Year-end report 2011

Year-end report 2011

Strongest year to date, despite a certain decline in the fourth quarter


  · Net revenues amounted to MSEK 668 (619) for the fourth quarter and MSEK
2,830 (2,290) for the full year.
  · Profit after net financial items amounted to MSEK 91.6 (95.1) for the fourth
quarter and MSEK 428.7 (398.8) for the full year.
  · Earnings per share after tax totaled SEK 2.33 (2.11) for the fourth quarter
and SEK 10.38 (9.51) for the full year.
  · Balance sheet remained strong, with net cash of MSEK 23 (91).
  · The Board proposes an ordinary dividend of SEK 6.00 per share (6.00) and an
extra dividend of SEK 1.00 per share (1.00).

The Group continued to grow organically during the fourth quarter, although at a
slower pace than in the past. Habia’s order bookings from the telecom sector
were particularly weak. Despite this decline in demand late in the year, 2011
was the strongest year to date in terms of both invoicing and earnings.

 During the fourth quarter, order bookings totaled MSEK 640 (614), up 4 percent.
Invoicing rose 8 percent to MSEK 668 (619). In comparable units, order bookings
decreased 2 percent, while invoicing rose 2 percent. Adjusted for currency
effects, order bookings rose 1 percent and invoicing rose 5 percent in
comparable units.

  Operating profit amounted to MSEK 95.0 (96.1) and the operating margin was
14.2 percent (15.5). Profit after net financial items totaled MSEK 91.6 (95.1).
Earnings per share after tax amounted to SEK 2.33 (2.11). Capital expenditures
amounted to MSEK 30.3 (22.6). Cash flow after capital expenditures, including
corporate acquisitions amounting to MSEK 8.9 (0), totaled MSEK 28.4 (40.9).

  During full-year 2011, order bookings rose 22 percent to MSEK 2,839 (2,321).
Invoicing totaled MSEK 2,830 (2,290), up 24 percent. In comparable units, order
bookings rose 9 percent and invoicing 10 percent. Adjusted for currency effects,
order bookings rose 13 percent and invoicing rose 14 percent in comparable
units.

Earnings improved in all three subsidiaries. For the Group, operating profit
totaled MSEK 441.4 (406.3) and the operating margin was 15.6 percent (17.7).
Profit after net financial items amounted to MSEK 428.7 (398.8) and earnings per
share after tax totaled SEK 10.38 (9.51).

  Capital expenditures amounted to MSEK 89.2 (55.2). Cash flow after capital
expenditures was MSEK 152.0 (168.2). Cash flow included corporate acquisitions
totaling MSEK 80.8 (65.0). At year-end, net cash for the Group totaled MSEK 22.5
(91.2).

If you have any questions, please contact:
Bertil Persson, President and CEO, Telephone +46 8 506 427 50,
bertil.persson@beijeralma.se
Jan Blomén, Chief Financial Officer, Telephone +46 18 15 71 60,
jan.blomen@beijeralma.se

Read more at: www.beijeralma.se