Interim Report January-June 2010
(Thomson Reuters ONE) -
Summary
First half-year
Net turnover decreased by 12% and amounted to SKr 552.2 million (625.4).
The operating result was a loss of SKr 57.2 million (loss 32.6). The
deterioration in the result is largely related to the Romanian business. Geveko
normally reports a loss for the first half of the year for seasonal reasons.
The consolidated result after tax was a loss of SKr 48.4 million (loss 31.0).
The loss per share was SKr 2.85 (loss 2.80).
Second quarter
Net turnover declined by 19% and amounted to SKr 414.1 million (510.2).
The operating result was a profit of SKr 37.3 million (74.9).
The consolidated result after tax was a profit of SKr 26.9 million (55.1).
Important events during the seccond quarter
Rights issue
The SKr 164 million (gross) rights issue carried out during the spring was fully
subscribed, which was announced in a press release. The number of shares in
issue was thereby increased in May 2010 by a total of 12,658,599 to a total of
16,878,132. The issue has strengthened Geveko's financial position and improved
its flexibility, which will make the company better placed to seize new business
opportunities.
New MD and CEO
Stefan Tilk, M.Sc. in Engineering Physics from Chalmers Institute of Technology,
who is currently head of Region Africa & Middle East within Volvo Trucks, has
been appointed MD and CEO of AB Geveko. He will take up his appointment on 1
September 2010.
New CFO
Göran Eklund, currently CFO within Lear Corporation Sweden AB, has been
appointed Chief Financial Officer in the Geveko Group. He will take up his
position on 16 August 2010.
Significant events after the end of the reporting period
As one aspect of the implementation of a new factory structure, whereby the
number of production units is to be halved, the factory property in Moss,
Norway, has been sold for a small capital gain. The transaction will be taken
into the interim report for the third quarter.
Forecast for full year
Given that the road-marking market in Europe as a whole is expected to remain
weak in 2010 it is estimated that Geveko's turnover will be lower than it was in
2009, when it amounted to SKr 1,435 million. An operating loss is expected to be
incurred, albeit a smaller one than last year's when it amounted to SKr 40
million.
Forthcoming information, 2010-2011
Interim report, January-September 2010 29 October 2010
Year-end communiqué 2010 23 February 2011
Annual report 2010 April 2011
Annual General Meeting 2011 28 April 2011
Interim report January-March 2011 28 April 2011
Contact information:
Hans Ljungkvist, CEO and Managing Director
Tel: +46 (0) 31 172945, +46 (0) 705 371110
Hans.ljungkvist(at)geveko.se
The information AB Geveko has provided in this interim report is such that shall
be published in accordance with the Act concerning the Securities Market and/or
the Act concerning Trading in Financial Instruments. This information was
released for publication on 14 July 2010 at 12.30 p.m.
AB GEVEKO (publ) Co.reg.no.: 556024-6844
Box 2137, SE-403 13 Göteborg, Sweden. +46 31 172945,info(at)geveko.se www.geveko.se
The full report with tables can be downloaded from the following link:
[HUG#1432751]
Interim Report January-June 2010: http://hugin.info/1075/R/1432751/378758.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Geveko via Thomson Reuters ONE
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Datum: 20.07.2010 - 11:16 Uhr
Sprache: Deutsch
News-ID 24154
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