Interim report January - September 2009

Interim report January - September 2009

Third quarter of 2009 - Strong earnings and good margin in a slightly improved
market

- Net sales amounted to 651 MSEK (795) a decline with 18 per cent
- Operating profit amounted to 81 MSEK (85)
- Profit after tax increased 19 per cent to 57 MSEK (48)
- Earnings per share rose 19 per cent to 2.15 SEK (1.80)
- Operating cash flow was strong and amounted to 112 MSEK (68)

Jan - Sept 2009 - Favourable earnings thanks to forceful cost adjustments in a
weak market 

- Net sales amounted to 1,905 MSEK (2,493) a decline with 24 per cent
- Operating profit, excluding items affecting comparability, amounted to 181
MSEK (256). Including these items, profit amounted to 83 MSEK (256).
- Profit after tax, excluding items affecting comparability, amounted to 115
MSEK (152). Including these items, profit after tax amounted to 34 MSEK (152).
- Earnings per share, excluding items affecting comparability, amounted to 4.33
SEK (5.72). Including these items, earnings per share amounted to 1.28 SEK
(5.72).
- Operating cash flow totalled 319 MSEK (205) excluding items affecting
comparability.
- Restructuring costs amounted to 98 MSEK, recognised during the first quarter.


President's comments 
“Our earnings were strong in the third quarter and we increased our profit per
share by 19 per cent. In early 2009, we rapidly and forcefully adjusted our
costs to lower demand. Compared with the second quarter, we increased our sales
primarily to automotive-related customers and the subsequent volume increase was
managed in a flexible manner. Our operating profit amounted to 81 MSEK (85) and
our operating cash flow remained strong at 112 MSEK (68).

Lower sales were reported during the nine-month period due to sharply reduced
demand. Sales declined 24 per cent, but rapid and forceful internal measures
enabled us to report an operating profit of 181 MSEK and an operating margin of
9.5 per cent (excluding items affecting comparability). The operating cash flow
was strong and our net debt has been reduced significantly. The market climate
remains highly uncertain due to factors that include temporary government
scrapping premiums in a number of major markets now being discontinued.”
				
Georg Brunstam, President and CEO



For further information please contact;

Georg Brunstam		
President and CEO		
+46(0)708-55 12 51		

Urban Ottosson
CFO and Investor Relations
+46(0)767-85 51 44