Comments on the third quarter by Gunnebo’s President and CEO, Henrik Lange:
“Sales in the third quarter have been good with an organic increase of 4% and an operating margin excluding costs of a non-recurring nature of 7.4% (6.2%).
“During the quarter, Gunnebo acquired all shares in Spanish company, Grupo Sallén Tech S.L. The acquisition is in line with Gunnebo’s strategic agenda to grow the business in cash handling. With Sallén as part of the Group, Gunnebo has access to technology that will strengthen our global offering for the retail sector, banks and cash in transit companies.
“The order intake in Region Americas was strong during the quarter. In Region EMEA it was virtually unchanged, while it decreased in Region Asia-Pacific where the majority of markets reported weak demand. Organic order intake for the Group as a whole decreased by 2% during the quarter.
“During the quarter the Spanish Royal Mint signed an order regarding the delivery and installation of specially designed vault panels. An agreement has also been made with retail chain Desigual regarding the installation and maintenance of electronic security solutions. The order encompasses almost 200 stores in seven countries across Europe.
“Sales increased organically by 4% to MSEK 1,462 during the third quarter. Region Americas reported strong organic sales, particularly on the markets in Latin America. In Region EMEA, Sweden, France, Italy and South Africa reported good growth during the quarter. The general desire to invest in Region Asia-Pacific was still low on the majority of markets, which contributed to negative organic sales growth in the region.
“Operating profit amounted to MSEK 90 (77) and the operating margin to 6.2% (5.9%) during the quarter. The operating profit includes one-off costs of MSEK 18 (5) relating to cost adaptations in Europe in particular. The operating margin excluding costs of a non-recurring nature totalled 7.4% (6.2%).”
THIRD QUARTER 2015
- Order intake increased to MSEK 1,419 (1,331), organically a decrease of 2%.
- Net sales increased to MSEK 1,462 (1,314), organically they increased by 4%.
- Operating profit increased to MSEK 90 (77) and the operating margin to 6.2% (5.9%).
- Operating profit excluding items of a non-recurring nature amounted to MSEK 108 (82) and the operating margin to 7.4% (6.2%).
- Profit after tax for the period totalled MSEK 48 (36).
- Earnings per share were SEK 0.62 (0.47).
- Free cash flow amounted to MSEK 23 (-24).
- During the quarter, Gunnebo acquired all shares in Spanish company Grupo Sallén Tech S.L.
JANUARY - SEPTEMBER 2015
- Order intake increased to MSEK 4,846 (4,167), organically an increase of 5%.
- Net sales increased to MSEK 4,375 (3,983), organically they fell by 1%.
- Operating profit amounted to MSEK 199 (236) and the operating margin to 4.5% (5.9%).
- Operating profit excluding items of a non-recurring nature amounted to MSEK 248 (218) and the operating margin to 5.7% (5.5%).
- Profit after tax for the period totalled MSEK 88 (139).
- Earnings per share were SEK 1.13 (1.83).
- Free cash flow amounted to MSEK -162 (-48).
