- Net sales increased by 53 per cent to SEK 2,562.1M (1,679.8). The increase is due to the acquisition of Carrier ARW.
- Operating profit amounted to SEK 128.6M (147.3). Including one-time gains of SEK 53.2M, operating profit was SEK 200.5 in 2008.
- Profit after tax amounted to SEK 87.5M (106.0). Including one-time gains of SEK 53.2M, profit after tax was SEK 159.2M in 2008.
- Profit per share amounted to SEK 4.44 (8.55). Including one-time gains, profit per share was SEK 12.84 in 2008.
The G & L Beijer Group was affected by the continued general negative economic trend during the first half of the year. Consolidated sales for the first six months rose by 53 per cent to SEK 2,562.1M (1,679.8). The increase is explained by the acquisition of Carrier ARW which is included in G & L Beijer’s accounts from 1 February 2009. The Group’s underlying sales, excluding the acquisition, were lower compared with the previous year. In addition, demand during the first half of 2008 was on an historically high level. Sales for the second quarter increased by 58 per cent to SEK 1,454.6M (923.0).
THE BEIJER REF BUSINESS AREA’S sales for the first six months of the year increased by 71 per cent to SEK 2,292.7M (1,343.7). The increase is explained by the acquisition of Carrier ARW. In spite of the financial crisis, sales in the Nordic markets as well as in Switzerland and South Africa were relatively stable. Holland and Poland reported a slightly less favourable development and the other East European countries as well as Italy, France and Spain reported continued weak development. Sales for comparable units fell by seven per cent. Currency effects affected sales positively by approximately 10 per cent. Sales for the acquired operations, which were included in February-June, amounted to SEK 1,046M. Sales for the second quarter rose by 78 per cent to SEK 1,325.3M (745.0). Sales for the acquired operations amounted to SEK 656M for the second quarter.
THE BEIJER TECH BUSINESS AREA’S sales amounted to SEK 269.4M (336.1). The fall is due to the continued slowdown in demand within the manufacturing industry where Beijer Tech’s principal customers are found. Sales for the second quarter amounted to SEK 129.2M (178.0).
- The Nine-Month Report for 2009 will be published on 21 October 2009.
- The Year-End Report for 2009 will be published in February 2010.
This Interim Report has been prepared in accordance with IAS 34 and RR 31. The reporting principles applied correspond with the reporting principles applied in the preparation of the latest Annual Report.
This Interim Report has not been the subject of special examination by the company’s auditors.
The Board of Directors and the Managing Director assure that this Six-Month Report gives a true and fair view or the company’s and the Group’s operations, position and results and describes significant risks and factors of uncertainty which the company and the companies included in the Group are facing.
Malmö, Sweden, 17 July 2009
Peter Jessen Jürgensen, Chairman
Poul Friis, Board Member
Bernt Ingman, Board Member
Anne-Marie Pålsson, Board Member
William Striebe, Board Member
Philippe Delpech, Board Member
Joen Magnusson, Board Member, MD