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August 22, 2005
FlexLink® - Half-year report, January–June 2005
August 22, 2005
Net sales increased by 16% during the first half of 2005, compared with the same period 2004 and earning levels improved. Sales rose significantly in America and Asia, particularly in China, and major projects for telecom components were closed in Finland. Order intake continued at a high level, showing a 9% increase over the same period 2004, with particular contributions from Asia and the Americas. Significant orders for Assembly Automation were received from electronics manufacturers in Southeast Europe and North Africa. A positive development of net sales and earnings is expected for the second half of the year.
ABN AMRO Capital acquired all shares in FlexLink AB.
Net sales amounted to MSEK 553 (475)
Earnings before interest, taxes and amortization of intangible assets (EBITA) amounted to MSEK 54 (44). The EBITA margin was 10% (9%). Operating income (EBIT) amounted to MSEK 47 (37). Earnings before tax amounted to MSEK 30 (19), and net income to MSEK 21 (14). The debt/equity ratio amounted to 1.2 (1.5) and the equity ratio was 31% (28%)
Inventories were 6% (5%) of net sales.
Comparative figures for 2004 are restated in accordance with the newly applied IFRS accounting principles. FlexLink is a leading global supplier of innovative automation solutions to assembly and manufacturing industries. FlexLink, based in Göteborg, Sweden employs 540 people in 25 companies and is represented in 50 countries. In 2004, group turnover was MSEK 1,137
Göteborg, August 22, 2005
FlexLink AB
Posted by Industrial at August 22, 2005 11:02 PM