Year-end report from ProfilGruppen AB (publ), January – December 2011

2012-02-16 14:05

 

Delayed insurance compensation affects result and cash flow
Fourth Quarter
* Turnover MSEK 195.5 (230.5), down 15 percent compared to previous year.
* Operating profit/loss MSEK 1.4 (4.1), after one-off items of net MSEK 3.4 (-1.9)
* Operating profit has been affected by an insurance compensation of MSEK 2.1 for production losses in conjunction to fire damages
* Cash flow from current operations MSEK -6.5 (19.0). The not yet paid proportion of the recognised insurance compensation has had a negative impact of MSEK 18.8.
* Earnings per share SEK 0.14 (0.21)
Full year
* Turnover MSEK 836.7 (901.4), down 7 percent compared to previous year.
* Operating profit/loss MSEK 17.7 (29.2), after one-off items of net MSEK 1.9 (-3.7)
* Operating profit has been affected by an insurance compensation of MSEK 17.1 for production losses in conjunction to fire damages
* Net income MSEK 7.5 (15.6).
* Cash flow from current operations MSEK 21.6 (18.4).
* Earnings per share SEK 1.51 (3.17)
* The Board is proposing no dividend for the 2011 financial year (SEK 1.50 per share).
 
Peter Schön, Acting CEO of ProfilGruppen, says:
“Under 2011 a program was initiated to strengthen the long-term competitiveness and profitability of the group. New competences have been added, the organisation has been made more efficient and both customer focus and productivity improvement work have been strengthened. Complications in the form of fire damages and production losses have consumed much energy and unfortunately had a negative impact on the result for 2011. However, in total we are well prepared for 2012 and will continue with our improvement program in order to reach our financial targets.”

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Contact for information:
Peter Schön, Acting CEO, mobile: +46 (0)70 339 89 99
e-mail: peter.schon@profilgruppen.se
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