Business News

Elanders: The Annual Accounts Report 2008

Friday 30. January 2009 - Net sales rose by 8 % totalling MSEK 2,191 (MSEK 2,036).

Operating profit amounted to MSEK 16.0 (MSEK 226.8) after one-off items of MSEK -89 (MSEK 20).
Pre-tax profit amounted to MSEK -34.3 (MSEK 184.1).
Net profit was MSEK -25.7 (MSEK 172.2) or SEK -2.62 per share (SEK 18.06 per share). 1)
Operating cash flow rose to MSEK 217 (MSEK -230).
Weakening demand from customers in consumer electronics, automotives and white goods in Sweden, Hungary and Italy is the main reason for the drop in profits.
During the fourth quarter, primarily in Sweden and Hungary, measures were taken to adjust to the change in order volumes, among them giving notice to 250 employees throughout Europe.
Continued success in China and Germany that generated new business during the year with, among others, Audi, Siemens, BMW, Volkswagen, NEC and Sanyo.
Seiz Printing Inc in the US and Mairs Graphische Betriebe GmbH in Germany were acquired during the year.
The Board of Directors and CEO propose that no dividend be distributed for 2008 (SEK 4.50 per share).
1) There was no dilution during the given periods.