· Sales amounted to SEK 3,394 m (2,971). Adjusted for exchange-rate changes and divestments, sales increased 32% compared with the year-earlier period.
· Earnings after tax amounted to SEK 46 m (142). Earnings pershare amounted to SEK 0.99 (4.37). Previous year result adjusted for discontinued operations amounted to SEK -190 m.
· Adjusted* operating income and adjusted* operating margin*amounted to SEK 194 m (loss: 93) and 5.7% (minus: 3.4), respectively.
· Cash flow remained strong, amounting to SEK 118 m (neg: 152), which reduced the Group’s net debt to SEK 873m (1,848).
· The Cost-Reduction Program continues with a review of the production structure in North America and further personnel cutbacks in certain areas of CVS’ other operations.
Business events after the reporting period
· In early July, Haldex announced an order for a new generation of disc brakes for SAF Holland. The total order value is expected to amount to about SEK 1,000 m over a five-year period. Deliveries will commence in the second quarter of 2011.
· The Haldex Board of Directors will propose a reorganisation of the divisions of Haldex, so that the Haldex shareholders will subsequently own shares in three separate listed companies instead of a single company. The intention is to submit this proposal to shareholders at the AGM in the second quarter of 2011.
* Continuing operations, excluding restructuring costs, nonrecurring items and amortization of acquisition-related surplus values
Tags: earnings, Haldex, Sales
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