STOCKHOLM, Sweden, Feb. 04, 2004 (PRIMEZONE) -- Fourth quarter 2003
- strong result and cash flow. Invoiced sales amounted to MSEK 1,857 (1,928).
- The profit after net financial items increased by 6 per cent to MSEK 134 (127).
- The profit after tax amounted to MSEK 105 (116).
- Gunnebo Security's operating margin improved to 10.0 per cent (9.1) and Gunnebo Engineering's to 9.0 per cent (7.9).
- The operative cash flow, excluding structuring costs, was continous very strong at MSEK 289 (289).
- Earnings per share declined to SEK 4.85 (5.30) pending on higher tax charges.
Financial year 2003
- Invoiced sales amounted to MSEK 6,961 (6,976) negatively affected by currency effects of MSEK 210.
- The profit after financial items increased by 22 per cent to MSEK 341 (280), profit influenced by a deficit of MSEK 30 resulting from currency fluctuations.
- The profit after tax increased by 14 per cent to MSEK 260 (229).
- Gunnebo Security's operating profit increased by 11 per cent to MSEK 428 Mkr (385) and its operating margin to 7.4 per cent (6.6).
- Gunnebo Engineering's operating profit increased by 7 per cent to MSEK 87 (81) and itsoperating margin to 7.6 per cent (6.9).
- The operative cash flow remained strong - excluding structuring costs it amounted to MSEK 500 (501). The cash flow per share from current operations was SEK 21.30 (21.15).
- Net loan liabilities declined by MSEK 272 to MSEK 1,309 (1,581). The Group's financial position strengthened further. The equity ratio rose to 37 per cent (30).
- Earnings per share increased by 13 per cent to SEK 11.95 (10:55).
Proposal for dividend and split
- It is proposed to increase the dividend with 12,5 per cent to SEK 4.50 per share (4.00). The Board also proposes a two-for-one share split.
Outlook for 2004
- The commercial outlook for the financial year 2004 as a whole is good. According to the normal seasonal pattern the first quarter result is expected to be weak. A forecast will be published in connection with the first quarter interim report.
GUNNEBO AB (publ) For further information please contact: Bjarne Holmqvist, President and CEO tel: +46-31-83 68 00 mobile: +46- 708-40 03 70 Lennart Gustavsson, CFO tel: +46-31-83 68 00 mobile: +46-705-93 40 80 Janerik Dimming, Director of information tel: +46-31-83 68 03 mobile: +46-705-83 68 03 e-mail: janerik.dimming@gunnebo.se www.gunnebo.se
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