Year-end report from ProfilGruppen AB (publ), January – December 2008

Substantial one-off item effect in the fourth quarter



Fourth Quarter

		

* Turnover MSEK 220.6 (293.1), down 25 per cent compared with previous year.



* Operating profit MSEK -23.4 (16.1), negative impact by one-off items of MSEK -14.2.



Full year



* Turnover MSEK 1,086.1 (1,179.4), down 8 per cent compared with previous year.



* Operating profit MSEK 16.5 (63.3), negative impact by one-off items of MSEK -16.0.



* Net income MSEK 9.3 (40.2).



* Cash flow from current operations MSEK -4.6 (78.4). 



* Earnings per share SEK 1.88 (8.15).



* Return on capital employed 6.1 per cent (22.8). 



* The Board is proposing a dividend of SEK 1.00 per share (3.60). 





Nils Arthur, President and CEO of ProfilGruppen says,

 

”The dramatic weakening of the market during the autumn of 2008 has occurred in conjunction with an exceptional price decline for aluminium. Because of this the result for 2008 has been charged with both substantial restructuring costs and inventory write-downs.



The market is still very hard to assess but we are working to adjust the operations to the development of the market, at the same time we keep high preparedness for a market recovery.



We have now accomplished the first part of the investment programme at the main factory in Åseda, which will lead to increased efficiency.”