STOCKHOLM, Sweden, April 29, 2003 (PRIMEZONE) -- Gunnebo AB:
Dividend
The ordinary Annual General Meeting of Gunnebo AB held on April 29, 2003 resolved in favour of paying a dividend of SEK 4.00 per share (previous year: 3.50).
The date of record for entitlement to dividend was set at May 5, 2003, and it is expected that the dividend will be paid out via VPC on May 8, 2003.
Election of Board
Roger Holtback, Rolf Ekedahl, Nils-Olov Jonsson, Mikael Jonsson, Sten Langenius and Bjarne Holmqvist were re-elected as ordinary members of the Board. Martin Svalstedt was newly elected to the Board.
At the statutory meeting of the Board, Roger Holtback was elected chairman.
Election of nominations committee
Roger Holtback, Nils-Olov Jonsson, Dan Sten Olsson and Ragnhild Wiborg were elected to the nominations committee.
Authorisation for Board
The Annual General Meeting resolved in favour of authorising the Board to decide to issue up to 600,000 shares for use in connection with company acquisitions before the next Annual General Meeting.
Points from President's AGM address
Bjarne Holmqvist, Gunnebo's President and CEO, opened his address to the AGM by reporting in detail on the current position of the basic activities of the divisions that accounted for the greater part of the improvement in the result, and the strong cash flow for 2002.
The two most important factors behind the improvement in the result were the continued, consistent implementation of Gunnebo Physical Security's structuring programme for its European safe production; and the radical improvement in the result of Gunnebo Integrated Security's electronic security systems business in France.
Bjarne Holmqvist also commented on Gunnebo Physical Security's launch of SafePay - the Group's new system for secure cash handling in the retail trade, which has been very favourably received.
To exemplify Gunnebo's successful growth strategy, Bjarne Holmqvist provided some details about the Group's growth in France - now by far Gunnebo's largest and most important market. Turnover there has increased from MSEK 40 in 1994 to MSEK 1,700 today, and the number of employees has risen from 6 to 1,500.
Gunnebo's key local presence in France currently consists of four factories, 14 subsidiary companies, 19 sales offices and 109 agents and distributors.
"Naturally, our goal is eventually to have the same structure on other key markets in Europe, such as England, Germany, Spain and Italy."
Rounding up, Bjarne Holmqvist commented on the result for the first quarter of 2003, which is always low owing to seasonal factors. The order intake is particularly encouraging; Gunnebo Security's was up by 6 per cent, and organic growth totalled no less than 7 per cent. This means that the Group's order books are currently very well filled, which will lead to a high level of invoiced sales during the coming quarter.
"Gunnebo will have a good year in 2003. We estimate that the result after net financial items will be significantly better than last year's. The operative cash flow for the year as a whole is expected to remain strong. We are focusing primarily on profitability, and I foresee further expansion and profitability improvements this year and in the years to come," concluded Bjarne Holmqvist.
For further information, contact Bjarne Holmqvist, President and CEO, Gunnebo AB, +46 31 83 68 00 or +46 708 40 03 70, or Lennart Gustavsson, Director of Finance, Gunnebo AB, +46 31 83 68 00 or +46 705 93 40 80, or Janerik Dimming, Director of Corporate Communications, Gunnebo AB, +46 31 83 6803 or +46 705 83 68 03, e-mail: janerik.dimming@gunnebo.se, www.gunnebo.se
Gunnebo is today an international fast growing security group with 110 companies located in 32 countries. The Group has sales to a further hundred markets via agents and distributors. Turnover amounts to some MEUR 760. Gunnebo's security products mainly include fire and burglar re sistant safes, security products for banks and cash handling, electronic security systems, fire protection, entrance control and access control, alarm centres and indoor and outdoor perimeter protection.Gunnebo has at its disposal some of the world's leading brand names in physical security: Chubb Safes, Fichet-Bauche, Rosengrens, Garny and Leicher.
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The following files are available for download:
http://www.waymaker.net/bitonline/2003/04/29/20030429BIT01590/wkr0001.doc
http://www.waymaker.net/bitonline/2003/04/29/20030429BIT01590/wkr0002.pdf