Quarterly result MSEK 26

First quarter

  • Turnover MSEK 401.1 (443.3), down 10 percent compared to previous year
  • Operating profit MSEK 26.0 (35.6)
  • Operating margin 6.5 percent (8.0)
  • Net income MSEK 11.4 (25.6)
  • Cash flow from operating activities MSEK -7.9 (-54.4)
  • Earnings per share SEK 1.26 kr (3.36)
  • The Board proposes that no dividend will be paid for the financial year of 2019
  • Short-term layoffs were introduced in March

Fredrik Zöögling, CEO and President of ProfilGruppen, comments:

”We summarize a first quarter that to some extension was affected by the spread of covid-19 and its consequences. In the end of March the demand decreased significantly from our customers in the Automotive segment when several of them closed their facilities temporarily. We have also seen a tendency of slow down from other segments, mainly on extrusions with added value during the later parts of March, which in total has had an effect on the result for the period.

Positive for now is that the inflow of new requests has increased and new agreements have been made during the period. On the 23rd of March it was decided to use short-term layoffs in order to be able to customize the capacity to the current demand situation. That way are we able to balance our costs, maintain all competence and act promptly when the demand increases. The organization has answered up to these actions in a solidary way and stays strong despite the head-wind.“

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