Continued weak market>

Continued weak market

(Thomson Reuters ONE) - Download the report in full:Nobia Q2 2009The recession continued to have a negative impact on the demand forkitchens. At the end of the period, demand was between 10 and 30 percent lower in Nobia's markets compared with the preceding year. Thecustomers' purchasing process is taking a longer time andprice-consciousness has increased sharply. Nobia's sales amounted toSEK 4,291 million (4,477) and organic growth was a negative 15 percent. Profit after tax was SEK 39 million (271) and earnings pershare after dilution were SEK 0.23 (1.61).Operating profit for the second quarter, excluding structuralexpenses of SEK 30 million, amounted to SEK 107 million (417) and theoperating margin was 2.5 per cent.Operating profit including structural expenses totalled SEK 77million (417) and the operating margin was 1.8 per cent (9.3).The strong decline in earnings was attributable to reduced volumes,structural expenses, price pressure and a changed sales mix.The currency effect was SEK 0 million (neg: 55).Operating cash flow amounted to SEK 456 million (11). The improvementcompared with the preceding year is attributable to lower tied-upcapital, lower tax paid and reduced investments.Comments from the CEO"Market conditions have remained very difficult," says President andCEO Preben Bager. "Cash flow was strengthened considerably as aresult of our focused efforts. We are intensifying the scope of theinternal initiatives that we have launched, which will lead to alower overall cost structure through adapted production capacity andenhanced efficiency."http://hugin.info/133488/R/1329504/313932.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Bereitgestellt von Benutzer: hugin
Datum: 17.07.2009 - 13:01 Uhr
Sprache: Deutsch
News-ID 3701
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