checkAd

    Transmode AB  293  0 Kommentare Interim Report January-September 2014

    Stockholm, Sweden - 22 October 2014

    July-September 2014

    • Sales were SEK 193.0 (272.0) m, corresponding to a decrease of 29.0%, or 34.5% adjusted for exchange rate fluctuations.
    • Operating profit was SEK 1.6 (48.5) m, including restructuring expenses, corresponding to an operating margin of 0.9% (17.8). Excluding restructuring expenses of SEK 6.4 m, operating profit was SEK 8.0 m, and the operating margin was 4.2%.
  • Net profit was SEK 2.4 (40.1) m.
  • Basic and diluted earnings per share were SEK 0.09 (1.44).
  • Cash flow from operating activities was SEK 7.7 (45.1) m.
  • January-September 2014

    • Sales were SEK 674.3 (805.8) m, corresponding to a decrease of 16.3%, or 21.1% adjusted for exchange rate fluctuations.
    • Operating profit was SEK 45.0 (139.2) m, including restructuring expenses, corresponding to an operating margin of 6.7% (17.3). Excluding restructuring expenses of SEK 6.4 m, operating profit was SEK 51.4 m, and the operating margin was 7.6%.
    • Net profit was SEK 40.1 (112.4) m.
    • Basic and diluted earnings per share were SEK 1.45 (4.05).
    • Cash flow from operating activities was SEK 87.8 (103.0) m.

    CEO's Statement: A Weak Quarter-Focus on Remedial Actions
    Sales were down by 29.0% in the quarter to SEK 193.0 m. This decline affected our operating margin, which was 4.2%, excluding restructuring expenses of SEK 6.4 m. We have a strong gross margin of 52.0% and positive cash flow of SEK 7.7 m.

    The combination of a weak second quarter with persistent low sales on our largest EMEA customers in the third quarter resulted in low profits. After conducting a close dialogue with these customers, my view is that we haven't lost market share with them, but rather, the decline is due to lower investments in their metro networks. However, more recently, we have seen signs of a greater willingness to invest from them, although I don't expect any rapid change, but rather, a gradual recovery. Sales from other EMEA customers were stable in the quarter. Sales in the Americas increased in this quarter, and I take a continued positive view of progress in this region.

    To return to healthy profitability and growth, we've taken several measures. The cost and efficiency program we reported in the quarter is being executed, and will reduce our cost base by some SEK 40 m annually. Staff reductions concluded in early-October, while other savings are being executed, and this program will mainly generate its effect in 2015.

    Seite 1 von 3


    GlobeNewswire
    0 Follower
    Autor folgen
    Verfasst von GlobeNewswire
    Transmode AB Interim Report January-September 2014 Stockholm, Sweden - 22 October 2014 July-September 2014 Sales were SEK 193.0 (272.0) m, corresponding to a decrease of 29.0%, or 34.5% adjusted for exchange rate fluctuations. Operating profit was SEK 1.6 (48.5) m, including restructuring …