STOCKHOLM, Sweden, Feb. 6, 2002 (PRIMEZONE) -- Sapa full year report 2001:
-- Eurofoil and Autoplastics operations divested - lower debt to
equity ratio
-- Improved cash flow for remaining operations
-- Far-reaching programme of measures, with personnel reductions of
about 1,300 employees during a two-year period until end of Q2
2002.
-- Earnings per share SEK 5.00 (12.75) excluding non-recurring items;
SEK 12.75 (21.05) including non-recurring items
-- Dividend of SEK 5.00 (5.00) per share proposed
Sapa in brief Full Year 2001 Full Year Full Year
2000 1999
Net sales, MSEK 15,168 15,395 12,220
Operating profit, MSEK(1) 531 893 789
Profit before tax, MSEK(1) 312 705 700
Operating margin, %(1) 3.5 5.8 6.5
Cash flow after investments(2) 320 -264 -120
Debt/equity ratio, % 44 119 66
(1) Excluding non-recurring items (see note, p 10)
(2) Excluding divestments and acquisitions
"During 2001, Sapa, like all our competitors, experienced a worse business climate for a very long time. The weakening state of the market resulted in receding profitability and a harder competition in prices on many markets where Sapa operates on. However, we started early with measures to cut our costs and achieve a strengthened competitiveness", comments Staffan Bohman, President and CEO of Sapa. "The strong financial position of the company give us both resistance in the present weak market situation and good possibilities for further growth within the focused Sapa."
This report is also available on Sapa's website on the Internet: www.sapagroup.com. A slide presentation of this release can be downloaded as a PDF-file. Select Financial information / Quarterly presentations.
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The following files are available for download: www.waymaker.net/bitonline/2002/02/06/20020206BIT00490/bit0002.doc The full year-end report www.waymaker.net/bitonline/2002/02/06/20020206BIT00490/bit0002.pdf The full year-end report