STOCKHOLM, Sweden, May 6, 2002 (PRIMEZONE) -- Sapa:
- Positive profit trend during Q1 2002
- Operating profit amounted to MSEK 101 (162)
- Profit before tax MSEK 82 (98)
- Earnings per share SEK 1.50 (2.10)
- Debt/equity ratio fell to 0.42 (1.17)
- Cash flow after investments (excluding acquisitions/divestments
subsidiaries) improved to MSEK 59 (negative: 75)
Sapa in brief Q1 2002 Q1 2001 Q1 2000
Net sales, MSEK1 2,821 3,126 2,580
Operating profit, MSEK(1) 101 162 176(2)
Profit before tax, MSEK(1) 82 98 150(2)
Operating margin, %(1) 3.6 5.2 6.8(2)
Cash flow after investments, MSEK(3) 59 -75 -187
Debt/equity ratio 0.42 1.17 0.74
Deliveries, tonnes 70,660 77,990 71,870
(1) Excluding Eurofoil and Autoplastics which were divested in 2001
(2) Excluding non-recurring items (see note, p 7)
(3) Excluding divestments/acquisitions subsidiaries
Comparisons according to the legal structure can be seen from the tables on pages 6 and 7.
"We now begin to see the positive effects on profit from our realised programmes of measures, which have led to lower cost levels and thereby strengthened competitiveness. The strong financial position of the Group from last year's divestments has also markedly improved the financial net," commented Staffan Bohman, President and CEO of Sapa.
"The quick downturn in volumes during the second half of 2001 slowed down during the first quarter of 2002. We now see signs of stabilisation on certain markets, with an increased order intake from previous low levels."
For further information, please contact
Staffan Bohman, CEO, tel. +46-8-459 59 11, Bo Askvik, CFO, tel. +46-8- 459 59 18, or Mikael Widell, Vice President IR & Communication, tel. +46-8-459 59 31.
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 Investor Relations, Presentations.
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www.waymaker.net/bitonline/2002/05/06/20020506BIT00160/wkr0001.doc The Full Report www.waymaker.net/bitonline/2002/05/06/20020506BIT00160/wkr0002.pdf The Full Report