Financial statement 2009

Positive cash flow despite negative results

 

Fourth quarter

• Operating income was SEK 539 million (820) 
• The operating loss was SEK 91 million (-36), giving an operating margin of -16.9 % (-4.4)
• One-off items affected earnings by SEK -101 million (-90), of which the write-down of goodwill and shares in associated companies was SEK 78 million (-) 
• The loss after tax was SEK -90 million (-26)
• Earnings per share (EPS) was SEK -4.97 (-1.45)
• The operating cash flow from current activities was SEK 3 million (33)

January - December

• Operating income was SEK 2,281 million (3,299)
• The operating loss was SEK 241 million (150), giving an operating margin of -10.6 % (4.5)
• One-off items affected earnings by SEK -171 million (-66), of which the write-down of goodwill and shares in associated companies was SEK 78 million (-)
• The loss after tax was SEK 209 million (92)
• Earnings per share (EPS) was SEK -11.52 (5.14)
• The operating cash flow from current activities was SEK 107 million (138)
• The equity/assets ratio was 30.5% (33.6) 

“2009 was a year where the recession hit the company very hard, resulting in significantly lower business volumes, a low utilization ratio and greater price pressure. The cash flow was positive however as a result of less tied up working capital and the Group’s equity/assets ratio is in line with the financial objectives. Orders are expected to steadily improve throughout 2010, with increased market activity and more offer enquiries from the automotive, energy and industry sectors.” 

Kjell Nilsson, President & CEO