ÅF AB Interim report January - September 2014
(Thomson Reuters ONE) -
For further information, please contact:
Jonas Wiström, President and CEO +46 70 608 12 20
Stefan Johansson, CFO +46 70 224 24 01
Viktor Svensson, Executive VP, Corporate Communication +46 70 657 20 26
Third quarter 2014
* Net sales amounted to SEK 1,873 million (1,770)
* Operating profit totalled SEK 120 million (130)
* Operating margin was 6.4 percent (7.4)
* Operating profit, excluding non-recurring items, totalled SEK 134 million
(130)
* Operating margin, excluding non-recurring items, was 7.2 percent (7.4)
* Profit after tax totalled SEK 79 million (92)
* Earnings per share, before dilution: SEK 1.03 (1.15)
January - September 2014
* Net sales amounted to SEK 6,429 million (6,046)
* Operating profit totalled SEK 528 million (449)
* Operating margin was 8.2 percent (7.4)
* Operating profit, excluding non-recurring items, totalled SEK 542 million
(504)
* Operating margin, excluding non-recurring items, was 8.4 percent (8.3)
* Profit after tax totalled SEK 382 million (319)
* Earnings per share, before dilution: SEK 4.95 (4.02)
A few words from the President, Jonas Wiström:
ÅF's operating profit, excluding non-recurring effects from the sale of Russian
subsidiary Lonas in July, amounted to SEK 134 million (130). These are the
highest third quarter earnings ÅF has ever reported, and the same applies to the
first nine months of the year. The adjusted operating margin was 7.2 percent
(7.4) for the third quarter.
The highest profitability was delivered by the Industry Division and the
Infrastructure Division with operating margins of 9.5 (9.3) and 8.0 (9.4)
percent, respectively. It is satisfying that these divisions, with over half of
ÅF's total workforce, continue to gain market share and grow by about 15 percent
in their respective fields. The International Division reported an operating
margin of 5.9 percent (7.7), which is an improvement from 2014's first and
second quarters. The Technology Division's market for advanced product
development and IT continued to vary, and its operating margin was 5.0 percent
(5.7).
ÅF's organic growth was 6.3 percent in the third quarter. ÅF now has a workforce
of more than 7,000 highly qualified employees, with a stronger, more
comprehensive range of engineering services than ever before. ÅF can also offer
customers a pool of around 20,000 engineers from its own unique partner network.
It is also gratifying that our strong position as an employer is being upheld.
On 8 October ÅF was ranked, for the second year in a row, as Sweden's second
most attractive employer in a survey conducted by Universum. Participating in
the survey were 3,700 young professional engineers. ÅF was also named by
Universum as one of the top 20 employers in Europe. It is a success factor that
ÅF as a brand and a company is considered an ideal employer for engineers both
in Sweden and internationally.
The outlook for the ÅF Group in late 2014 is cautiously positive. The
infrastructure market remains strong in both Sweden and the rest of Scandinavia.
Industrial activity remains at a satisfactory level, although uncertainty has
increased slightly since the summer. The energy market continues to be
influenced by low levels of investment in Europe, while opportunities continue
to be good in the Asian and South American markets.
ÅF's most important goal is be the most profitable company among its closest
comparable competitors in the industry and achieve an operating margin of at
least 10 percent over a business cycle. This will be combined with growth - both
organic and through acquisitions. In early 2014, new long-term objectives were
introduced, which included increasing ÅF's revenue to at least EUR 2 billion by
2020.
Group Head Office:
ÅF AB (publ), SE-169 99 Stockholm, Sweden
Visitors' address: Frösundaleden 2, 169 70 Solna, Sweden
Tel. +46 10 505 00 00 Fax +46 10 505 00 10
www.afconsult.com / info(at)afconsult.com
Corporate ID number 556120-6474
The information in this interim report fulfils ÅF AB's disclosure requirements
under the provisions of the Swedish Securities Markets Act and/or the Financial
Instruments Trading Act. The information was released for publication at 10.30
a.m. on 21 October.
All assumptions about the future that are made in this report are based on the
best information available to the company at the time the report was written. As
is the case with all assessments of the future, such assumptions are subject to
risks and uncertainties, which may mean that the actual outcome differs from the
anticipated result.
This is a translation of the Swedish original. The Swedish text is the binding
version and shall prevail in the event of any discrepancies.
The full report including tables (pdf) is available for download
Interim report January - September 2014:
http://hugin.info/1253/R/1864371/654358.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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: ÅF AB via GlobeNewswire
[HUG#1864371]
Unternehmensinformation / Kurzprofil:
Datum: 21.10.2014 - 10:30 Uhr
Sprache: Deutsch
News-ID 345505
Anzahl Zeichen: 6125
contact information:
Town:
Stockholm
Kategorie:
Business News
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