Interim Report January -March 2001
Interim Report January - March 2001 First 12 months quarter SEK M (unless otherwise 2001 2000 0004- 2000 stated) 0103 Order intake 271 209 1357 1296 Backlog 450 392 450 523 Net sales 344 198 1400 1254 Operating profit 20 5 105 90 Profit after financial 17 4 94 81 items Net profit after tax 12 3 67 58 Profit per share, SEK 2.43 0.57 13.49 11.63 · Profit before taxes amounted to SEK 17M (4) - KMT's best first quarter ever · Net sales were SEK 344M (198). LMT accounted for 50 per cent of the increase · Order intake unchanged for comparable units · LMT - Lidköping Machine Tools - is developing positively and has started to contribute to KMT's profit per share · Unchanged forecast for 2001, i.e. profit before taxes will improve slightly compared with 2000, cleared of items affecting comparability (71) President's comments The year has started positively with a profit of SEK 17M after financial items, an increase of SEK 13M compared with the previous year. Smooth production and deliveries in most units combined with a solid backlog at the turn of the year generated the good result. LMT - Lidköping Machine Tools - which, following its acquisition by KMT last year, has undergone a wide-ranging effectiveness programme, also contributed to the results. The market situation during the quarter was subdued and customers tended to take longer in re-examining their investment decisions before placing an order. The US market remains difficult which has, especially, affected the product area of Sheet Metal Working. The activity and development levels remain high within UVA's main market of fuel injection equipment. UVA's investment in its own sales office in China has started to pay dividends and several orders have been received. Efficiency improvement and staff reductions are being implemented in the product areas of Sheet Metal Working and Tube Forming with the aim of raising efficiency as well as utilising the new modular products and adapt the operations to a lower overall market. 2001 is characterised by systematic improvement work aimed at a significant improvement of results as well as capital tied up during 2002. Prospects for the future The market situation is, on the whole, expected to remain sluggish for another few months. This also applies to the very weak resolve to invest in the US market. At the same time there are many promising projects in all the product areas which have made good progress in the customers' decision-making process. As the remaining quarters are not expected to be improved compared with year 2000, the forecast in the Preliminary Accounts Report remains unchanged. This means that the year's profit before taxes is expected to improve slightly compared with 2000, cleared of items affecting comparability (71). Skellefteå, 25 April 2001 Björn Kumlin President and CEO For further information, please contact Björn Kumlin, President of Karolin Machine Tool AB, telephone +46 910-71 10 30 or +46 70-587 26 60. E-mail: bjorn.kumlin@kmt.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/25/20010425BIT01080/bit0001.doc http://www.bit.se/bitonline/2001/04/25/20010425BIT01080/bit0001.pdf