Summary First half-year Net turnover decreased by 12% and amounted to SKr 552.2 million (625.4). The operating result was a loss of SKr 57.2 million (loss 32.6). The deterioration in the result is largely related to the Romanian business. Geveko normally reports a loss for the first half of the year for seasonal reasons. The consolidated result after tax was a loss of SKr 48.4 million (loss 31.0). The loss per share was SKr 2.85 (loss 2.80). Second quarter Net turnover declined by 19% and amounted to SKr 414.1 million (510.2). The operating result was a profit of SKr 37.3 million (74.9). The consolidated result after tax was a profit of SKr 26.9 million (55.1). Important events during the seccond quarter Rights issue The SKr 164 million (gross) rights issue carried out during the spring was fully subscribed, which was announced in a press release. The number of shares in issue was thereby increased in May 2010 by a total of 12,658,599 to a total of 16,878,132. The issue has strengthened Geveko's financial position and improved its flexibility, which will make the company better placed to seize new business opportunities. New MD and CEO Stefan Tilk, M.Sc. in Engineering Physics from Chalmers Institute of Technology, who is currently head of Region Africa & Middle East within Volvo Trucks, has been appointed MD and CEO of AB Geveko. He will take up his appointment on 1 September 2010. New CFO Göran Eklund, currently CFO within Lear Corporation Sweden AB, has been appointed Chief Financial Officer in the Geveko Group. He will take up his position on 16 August 2010. Significant events after the end of the reporting period As one aspect of the implementation of a new factory structure, whereby the number of production units is to be halved, the factory property in Moss, Norway, has been sold for a small capital gain. The transaction will be taken into the interim report for the third quarter. Forecast for full year Given that the road-marking market in Europe as a whole is expected to remain weak in 2010 it is estimated that Geveko's turnover will be lower than it was in 2009, when it amounted to SKr 1,435 million. An operating loss is expected to be incurred, albeit a smaller one than last year's when it amounted to SKr 40 million. Forthcoming information, 2010-2011 Interim report, January-September 2010 29 October 2010 Year-end communiqué 2010 23 February 2011 Annual report 2010 April 2011 Annual General Meeting 2011 28 April 2011 Interim report January-March 2011 28 April 2011 Contact information: Hans Ljungkvist, CEO and Managing Director Tel: +46 (0) 31 172945, +46 (0) 705 371110 Hans.ljungkvist@geveko.se The information AB Geveko has provided in this interim report is such that shall be published in accordance with the Act concerning the Securities Market and/or the Act concerning Trading in Financial Instruments. This information was released for publication on 14 July 2010 at 12.30 p.m. AB GEVEKO (publ) Co.reg.no.: 556024-6844 Box 2137, SE-403 13 Göteborg, Sweden. +46 31 172945,info@geveko.se www.geveko.se The full report with tables can be downloaded from the following link: [HUG#1432751]
Interim Report January-June 2010
| Source: Geveko, AB
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