Interim report January-June 1999

Interim report January-June 1999 * Sales turnover for the first six months of the year amounted to SEK 125.4 million (118.9). * The company reported a loss after financial items for the first six months of SEK 5.9 million (-5.3). * The development company, Opcon Autorotor AB, reported a continuing loss, of SEK 5.0 million (-6.2). * Gradual improvements in order received for the Group will mean better coverage for the second half of the year. * Important co-operation agreements for the Group are expected to be signed during 1999. A profit for the full year is forecast. The Group, first six months of 1999 Sales turnover during the first six months of 1999 amounted to SEK 125.4 million (118.9). The Group's order book showed an improvement during the second quarter compared with the first quarter. Orders received during the first six months amounted to SEK 125.5 million (127.7). The Group made a loss of SEK 5.9 million (-5.3). A continuing focus on the development of air systems for fuel cells by the development company, Opcon Autorotor AB, had a negative impact on results of SEK 5.0 million. Opcon AB in brief Opcon is based in Åmål, Sweden. The company was listed on the O-list of the Stockholm Stock Exchange on 30 December 1998. Opcon companies develop, manufacture and market products such as ignition cassettes for cars, ignition systems for chainsaws and motorbikes, electromagnetic devices (opening devices for petrol tank lids, head rests and shift-locks in vehicles for example), transformers and screw compressors for air systems in vehicles. Operations are organised in four business areas: Ignition systems - SEM AB, Åmål Electromagnetic devices - SEM Drive AB, Åmål Transformers - Transformator-Teknik AB, Åmål Screw compressors - Opcon Autorotor AB, Nacka Opcon AB is the parent company of the Group. As of June 30 the Group had 340 employees. SEM AB and SEM Drive AB both have QS 9000 certification. Work aimed at achieving ISO 9000 certification is in progress at Opcon Autorotor AB. Transformator-Teknik AB has ISO 9001 certification. Environmental certification for the Group is a key objective for coming years. Ignition systems - SEM AB * Sales turnover 8% higher than first half of 1998. * Orders received improved during the second quarter to end at around the same level as in 1998. * Orders received in the first six months amounted to SEK 81.9 million (83.5) * Operating profit up by SEK 2.1 million compared with the previous year. * Continued increase in volume for Saab ignition systems. * New ignition system introduced, which will mean additional volumes worth around SEK 15-20 million annually. * Assessment of acquisition alternatives continues. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/09/02/19990902BIT00440/bit0001.doc The full report http://www.bit.se/bitonline/1999/09/02/19990902BIT00440/bit0002.pdf The full report