Report January to July 1999
Report January - July 1999 HL Display AB (publ) @ Sales for January to July increased by 17.5% to SEK 428.5 m (364.7) compared to corresponding period 1998 @ Profit before tax amounted to SEK 27.2 m (48.7) @ The profit before tax of July was SEK 7.4 m (7.2) @ New joint venture; HL Trion in Lesjöfors [REMOVED GRAPHICS] January to July in brief The consolidated sales for the period increased by 17.5 per cent to SEK 428.5 m (364.7). Operating profit amounted to SEK 33.3 m (48.2). The profitability is weakened by the under utilised production capacity. An plan of action has been introduced to improve capacity utilisation for these production units. Profit before tax was SEK 27.2 m (48.7). This includes a translation loss on consolidation of SEK -3.3 m (+0.2). This is explained by the strengthening of the Swedish Krona to other Group currencies, primarily to the Euro, since the beginning of this year. The profit before tax of July was SEK 7.4 m (7.2). Net investments in fixed assets amounted to SEK 27.2 m (36.6). In addition SEK 8.4 m (2.4) is related to investments in associates. Joint Venture with Trion Inc Trion is the largest manufacturer of displayhooks. The European operations will be based on the production know-how of Trion together with HL's strong market position in Europe. The production equipment is already in place in the new factory. The marketing will be carried out through HLs marketing organisation. An agreement has been signed where each party holds equal shares in the new company. [REMOVED GRAPHICS] Stockholm 18/08/1999 Forthcoming Reports Monthly report 8 months 1999 17.09.1999 Interim report 9 months 1999 18.10.1999 Monthly report 10 months 1999 18.11.1999 Monthly report 11 months 1999 17.12.1999 Year end report 12 months 1999 24.01.2000 [REMOVED GRAPHICS] 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/1999/08/18/19990818BIT00370/bit0001.doc http://www.bit.se/bitonline/1999/08/18/19990818BIT00370/bit0002.pdf