Report January - May 1999

Report January - May 1999 HL Display AB (publ) Sales for January to May increased by 17.6% to SEK 303.6 m (258.1) compared to corresponding period 1998 Profit before tax amounted to SEK 15.5 m (33.8) January to May in brief The consolidated sales for the period increased by 17.6 per cent to SEK 303.6 m (258.1). In spite of the reported growth rate, the total net sales is not in line with our expectations. Operating profit amounted to SEK 19.8 m (33.8). HL Display now has capacity for considerably higher volumes than those achieved so far during 1999. This has been made through increased production capacity in the four Swedish plants and through employment of sales personnel in both production and sales companies. As long as the growth rate is not increasing further, the higher cost level will result in a lower profitability than planned. Profit before tax was SEK 15.5 m (33.8), This includes a translation loss on consolidation of SEK -2.7 m (-0.8). This is explained by the strengthening of the Swedish Krona to other Group currencies, primarily to the Euro, since the beginning of this year. Net investments in fixed assets amounted to SEK 22.6 m (25.0). In addition SEK 7.9 m (2.4) is related to acquisitions. Stockholm 18/06/99 Anders Remius Managing Director HL Display shall increase customer profitability by offering the retail trade and its suppliers cost efficient, customer-adapted display systems. Production is to be flexible and delivery times are to be kept short. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/06/18/19990618BIT00360/bit0001.doc http://www.bit.se/bitonline/1999/06/18/19990618BIT00360/bit0002.pdf