* Net sales rose by 8 % totalling MSEK 1,054 (MSEK 978).
* Operating profit amounted to MSEK 56.2 (MSEK 88.4).
* Pre-tax profit amounted to MSEK 32.7 (MSEK 69.9).
* Net profit was MSEK 26.1 (MSEK 54.7) or SEK 2.66 per share (SEK
5.88 per share)1).
* Operating cash flow rose to MSEK 129 (MSEK -213).
* A dramatic reduction in deliveries to customers in consumer
electronics in Europe was noted during the second quarter, which
is believed to have affected quarterly profit by MSEK 20 compared
with the previous year.
* Operating losses during the shutting down process in Östervåla,
further unplanned start-up costs for the Italian unit, and
temporary problems with the production of educational material in
Hungary affected profit negatively by a total of MSEK 16 in the
period compared with the previous year.
* The general restructuring of Swedish operations is expected to
have full effect first in 2009 and has thus far had a negative
effect on profits of MSEK 10.
* During the second quarter the Group was successful in attaining
new business with companies such as Audi, GE Moneybank and
Flextronics.
* The printing company Mairs Graphische Betriebe GmbH & Co KG in
Stuttgart was acquired in May and consolidated into the Group in
June, which led to new business with BMW, Volkswagen and Siemens.
* In the beginning of February Elanders acquired Seiz Printing Inc.
in Atlanta, U.S.A., which is an important platform for deliveries
to the Group's customers on the North American market.
* The forecast for 2008 has been changed to an increase in net
sales compared with previous year and pre-tax profits of around
MSEK 100 and profits after tax of approximately MSEK 75. The
previous forecast was an increase in net sales and pre-tax
profits compared with 2007, not including capital gains of MSEK
40.6 from the sale of property in Kungsbacka.
1) There was no dilution during the given periods.
Further information can be found on Elanders' website
www.elanders.com or via
e-mail info@elanders.com. Questions concerning this report can be
made to:
Patrick Holm
President and CEO
Phone +46 31 750 07 50
Mobile +46 708 210 410
Mats Almgren
Chief Financial Officer
Phone +46 31 750 07 60
Mobile +46 705 181 936
