VETLANDA, Sweden, April 10, 2002 (PRIMEZONE) -- Sapa, preliminary quarterly information.
If nothing else is stated, all information refers to the Sapa Group excluding Eurofoil and Autoplastics, which were divested in 2001. The third table shows the legal comparisons.
-- Operating profit amounted to MSEK 101 (162) -- Positive profit trend during Q1 2002 -- Profit before tax amounted to MSEK 82 (98) -- Earnings per share SEK 1.5 (2.1) Sapa in brief Q1 2002 Q4 2001 Q3 2001 Q2 2001 Q1 2001 Net sales, MSEK 2,821 2,735 2,718 3,022 3,126 Operating profit(1), MSEK 101 14 60 137 162 Profit before tax(1), MSEK 82 -26 26 95 98 Operating margin(1), % 3.6% 0.5% 2.2% 4.5% 5.2% Deliveries, tonnes 70,660 63,030 63,760 72,870 77,990 (1) Excluding non-recurring items
"We now begin to see the positive effects on profit from our realised programmes of measures, which have led to lower cost levels and thereby strengthened competitiveness. The strong financial position of the Group from last year's divestments has also markedly improved the financial net", commented Staffan Bohman, CEO and President of Sapa.
First Quarter 2002
Group net sales amounted to MSEK 2,821 (3,126). In comparison with the third and fourth quarters of 2001, there was an increase in volumes of 10 per cent.
Group operating profit amounted to MSEK 101 (162). The profit trend during the first quarter 2002 was positive, compared to the negative development during the second half of 2001.
Group operating margin was 3.6 per cent (5.2). Profit before tax amounted to MSEK 82 (98). The financial net improved after the realised divestments and a strengthened cash flow. Profit after tax amounted to MSEK 55, corresponding to earnings per share of SEK 1.5 (2.1).
The volumes fell during the period with 9 per cent, in comparison with the same period in 2001. During the fourth quarter of 2001, the volumes fell with 17 per cent.
Sapa Group including Eurofoil and Autoplastics
Income statement in summary (MSEK) Q1 2002 Q1 2001 Net sales 2,821 4,563 Costs -2,720 -4,329 Operating profit 101 234 Financial net -19 -83 Profit after financial items 82 151 Tax and minority interest -27 -51 Net result 55 100 Earnings per share, SEK 1.5 2.7
The full quarterly report for the period January-March 2002 will be presented on May 6.
This information is also available on Sapa's website on the Internet: www.sapagroup.com
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