ProfilGruppen AB: Focus on margin development

This is a translation of the Swedish version of the report. In case of any discrepancies, the Swedish version shall prevail.
 
Second quarter
· Turnover MSEK 604.5 (672.5), down 10 percent compared to the previous year
· EBITDA MSEK 78.4 (86.6)
· Operating profit MSEK 54.9 (63.3) and operating margin 9.1 percent (9.4)
· Net profit MSEK 41.6 (39.6)
· Cash flow from operating activities MSEK 63.2 (55.6)
· Earnings per share SEK 5.32 (4.99) (no dilution exists)
 
Profit with altered allocation of metal cost
· Total profit amounts to MSEK 53.9 (63.7)
· Of which adjusted operating profit MSEK 50.7 (39.6), corresponding to 8.4 percent (5.9) of turnover
and result of metal position at risk MSEK 3.2 (4.1)
· Adjusted net profit MSEK 40.8 (39.8)
· Adjusted earnings per share SEK 5.23 (4.99)
 
First six months
· Turnover MSEK 1,185.7 (1,356.3), down 13 percent compared to the previous year
· EBITDA MSEK 144.9 (140.3)
· Operating profit MSEK 98.5 (95.1) and operating margin 8.3 percent (7.0)
· Net profit MSEK 69.1 (58.6)
· Cash flow from operating activities MSEK 98.6 (252.3)
· Earnings per share SEK 8.76 (7.19) (no dilution exists)
 
Profit with altered allocation of metal cost
· Total profit amounts to MSEK 104.1 (91.6)
· Of which adjusted operating profit MSEK 100.8 (69.8), corresponding to 8.5 percent (5.1)
of turnover and result of metal position at risk MSEK 3.3 (1.8)
· Adjusted net profit MSEK 73.5 (55.5)
· Adjusted earnings per share SEK 9.36 (6.77)
 
Mari Kadowaki, CEO and President of ProfilGruppen, comments:

"The maintained delivery volume holds up the improved reported Group operational result. 
However, the actual calculated return is significantly lower and is not sufficient to maintain and develop our company. We therefore have important work ahead of us to change and raise profitability through price and margin increasing measures as well as expanded business that gives the customer greater added value.”