Interim report January-September 1999

Opcon AB (publ) Interim report January-September 1999 *Sales turnover for the period January-September 1999 amounted to SEK 173.6 million (171.3 m). *The company reported a loss after financial items of SEK 5.8 million (-6.5 m). *The third quarter produced a profit after financial items, which helped to improve results. *The development company, Opcon Autorotor AB, reported a continuing loss after financial items, of SEK 6.8 million (-8.3 m) *Important co-operation agreements for the Group are expected to be signed during 1999. *The company forecasts a profit after financial items for the full year. The Group, January-September 1999 Sales turnover during the first nine months of 1999 amounted to SEK 173.6 million (171.3 m). Orders received in the same period amounted to SEK 189.7 million (188.5 m). The Group made a loss of SEK 5.8 million (-6.5 m). The result for the third quarter was weakly positive but still an improvement on previous quarters. 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 6.8 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, for example), head rests and shift-locks in vehicles, transformers and screw compressors for air-supply 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 September 30 the Group had 346 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 3% higher than 1998. * Orders received strengthened during the third quarter. * Orders received in the first nine months amounted to SEK 129.1 million (127.7 m). * Operating profit up by SEK 1.4 million compared with the previous year. * 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/1999/10/29/19991029BIT00800/bit0001.doc Full Report http://www.bit.se/bitonline/1999/10/29/19991029BIT00800/bit0002.pdf Full Report