Interim Report Q2 2013
JANUARY 1–JUNE 30, 2013 (compared with same period a year ago)
- Net sales rose 12% (19% excluding exchange rate effects and divestments) to SEK 44,531m (39,763)
- Operating profit excluding items affecting comparability rose 11% (16% excluding exchange rate effects) to SEK 4,361m (3,939)
- Profit before tax, excluding items affecting comparability, rose 18% (22% excluding exchange rate effects) to SEK 3,884m (3,292)
- Items affecting comparability amounted to SEK -791m (-410)
- Earnings per share were SEK 3.22 (3.58)
- Cash flow from current operations was SEK 1,997m (3,067)
(Table included in attached pdf)
CEO’S COMMENTS
The hygiene operations are showing higher sales and earnings. The decrease in earnings for Forest Products is mainly attributable to lower prices and negative exchange rate effects as a result of the stronger Swedish currency.
The efficiency programs in the hygiene and forest products operations are continuing according to plan.
Consolidated net sales for the first half of 2013, excluding exchange rate effects and divestments, rose 19% compared with the same period a year ago. The increase is mainly attributable to acquisitions and higher volumes in the hygiene operations. Operating profit excluding items affecting comparability and exchange rate effects rose 16%. Acquisitions, higher volumes, lower raw material costs and cost savings contributed to the earnings improvement. The corresponding profit for Personal Care and Tissue rose 17% and 37%, respectively, while profit for Forest Products decreased by 34%. Profit before tax, excluding items affecting comparability and exchange rate effects, rose 22%.
Consolidated net sales for the second quarter of 2013, excluding exchange rate effects and divestments, rose 18% compared with the same period a year ago. The increase is mainly attributable to acquisitions and higher volumes in the hygiene operations. Operating profit excluding items affecting comparability and exchange rate effects rose 5%. Acquisitions, higher volumes and cost savings contributed to the earnings improvement. The corresponding profit for Personal Care and Tissue rose 3% and 33%, respectively, while profit for Forest Products decreased by 42%. Profit before tax, excluding items affecting comparability and exchange rate effects, rose 11%.
In connection with SCA’s acquisition of Georgia-Pacific’s European tissue operations in 2012, the European Commission set conditions for certain divestments of consumer tissue businesses. The European Commission has now approved all of SCA’s divestments. The businesses in question represent combined sales of approximately EUR 200m.
For further information, please contact:
Johan Karlsson, Vice President Investor Relations, Corporate Communications, +46 8 788 51 30
Boo Ehlin, Vice President Media Relations, Corporate Communications, +46 8 788 51 36
Joséphine Edwall-Björklund, Senior Vice President, Corporate Communications, +46 8 788 52 34
NB
SCA discloses the information provided herein pursuant to the Securities Markets Act. This report has been prepared in both Swedish and English versions. In case of variations in the content between the two versions, the Swedish version shall govern. Submitted for publication on July 18, 2013, at 12:00 CET.