NOBINA YEAR-END REPORT 1 MARCH 2014–28 FEBRUARY 2015
FOURTH QUARTER
• Net sales were SEK 1,905 million (1,816), an increase of 4.9 per cent.
• The operating profit was SEK 41 million (32).
• Profit after tax were SEK –11 million (–25) and earnings per share were SEK –0.02 (–0.04).
• Cash flow from operating activities was SEK 375 million (345).
• Investments, which refer chiefly to the purchase of buses, totalled SEK 134 million (7).
THE FINANCIAL YEAR 1 MARCH 2014 – 28 FEBRUARY 2015
• Net sales were SEK 7,549 million (7,269), which is an increase of 3.9 per cent.
• The operating profit was SEK 371 million (326).
• Profit after tax were SEK 94 million (56) and earnings per share were SEK 0.15 (0.09).
• Cash flow from operating activities was SEK 964 million (899).
• Investments, which refer chiefly to the purchase of buses, totalled SEK 295 million (39).
SIGNIFICANT EVENTS IN THE FOURTH QUARTER
• During the period the contracts for regional and school bus services in Värmland were finally signed. The contracts are worth around SEK 400 million annually over ten years.
• December 2014 saw the launch of the first services under the new Copenhagen contract, which increases the number of buses to 100 from 55 under the previous contract.
• The company’s financial position improved in the fourth quarter as a result of increased funding facilities and a stronger cash position.
SIGNIFICANT EVENTS after end of period
• After the end of the period the Board appointed advisors to explore strategic alternatives.
• The Board has updated Nobina´s financial targets:
– Nobina targets to grow net sales at a rate faster than the market.
– Nobina aims to grow its EBT, and on an annual basis reach an EBT margin in excess of 4 per cent in the medium term
CEO’S COMMENTS
“Nobina’s earnings performance was very strong in the fourth quarter. For the financial year as a whole Nobina reports its best operating profit to date, for the third year in a row.
Following an extended appeals process, Nobina concluded contracts in the fourth quarter with Värmlandstrafik starting in December 2015. We are very pleased to note that a greater premium is now being placed on quality criteria, as evidenced by the Värmland tender and in other tenders, as this fits in with Nobina’s business model. In preparation for the launch of services in Värmland Nobina will be investing in about 160 brand new buses, most of which will run on non-fossil fuel.
For the year as a whole the outcome of tenders was very successful, as Nobina won 49 per cent of the volume in the tenders in which we competed. The volume of services due to be put out to tender is expected to increase in the coming year.
Putting an eventful year behind us, we now turn our sights to the coming year, in which we expect to see steady and profitable growth. Finally, I would like to say a big thank you to all our employees in Nobina for their hard work in the past year.”
Ragnar Norbäck
President and CEO
For further information, please contact:
Ragnar Norbäck, President and CEO +46 8-410 65 000
Per Skärgård, CFO +46 8-410 65 056
Ingrid Håkanson, IR Manager +46 8-410 65 051
Tags: