STOCKHOLM, Sweden, Feb. 14, 2005 (PRIMEZONE) -- Pergo:
(Figures in brackets (xx) correspond to the figures for the same period last year) 2004 -- A year of restructuring -- The year's net sales totaled SEK 2,780 million (2,799) -- a 6% rise compared with 2003, excluding currency effects. Net sales for Q4 reached SEK 682 million (732), a 1% drop compared with 2003, excluding currency effects. -- The year's operating loss was SEK 191 million (-146), which includes costs of SEK 253 million (-190) reported as items affecting comparability. -- Excluding items affecting comparability, the operating profit for the full year was SEK 62 million (44) and SEK 16 million (17) for Q4. -- The loss after tax for 2004 was SEK 197 million (-169). -- The EPS for 2004 was SEK -3.68 (-3.15). -- The negative impact of currency effects on the year's results was SEK 32 million compared with 2003. -- Cash flow from current business activities in Q4 was SEK 99 million and a loss of SEK 19 million (62) for the year. The cash deficit was SEK 5 million (+153). SEK million Q4 2004 Q1-Q4 2004 Net sales 682 (732) 2 780 (2 799) - North America 383 (462) 1 639(1 728) - Europe 269 (233) 1 019 (949) Operating profit/loss 16 (17) 62 before restructuring (44) and other items affecting comparability Operating profit/loss 16 (-5) -191 (-146) Profit/loss after tax 12 (-33) -197 (-169)
Comments by CEO Goran Bernhoff
"Pergo initiated highly extensive restructuring and new investment projects in both Europe and the USA in 2004. These will be completed during Q3 2005 and make the company more effective and competitive," says CEO, Goran Bernhoff. "Pergo improved its operating profit in 2004. Despite the loss of a premium product to The Home Depot, the profit in North America is better than last year when market and supply are consolidated. European business activities have significantly strengthened the gross margin and operating profit. In addition, our move to complement our premium products by expanding our range of mid-price segment products generated good results." "We will gradually benefit from the investments of the past year in 2005. We will become more active on our most important markets and fully exploit the constant global growth of the laminate flooring segment. We will proceed with our wood flooring initiatives and at the same time launch many new products."
Trelleborg, Sweden, February 14, 2005
Board of Directors
This is Pergo
Pergo is a laminate flooring company with leading market positions, particularly in Europe and the US. Net sales amounted to MSEK 2,780 in full-year 2004 and the number of employees is around 800. Pergo developed laminate flooring at the end of the 1970s and launched the product in Europe during the 1980s. The company started sales in the U.S. in 1994 and later also in Asia and Latin America. The company's products have been marketed under the PERGO(r) brand name since 1989. The company is listed on the Stockholm Stock Exchange's Attract 40-list. For further information about Pergo, please visit our homepagewww.pergo.com.
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