Haldex Year-End Report 2012 Business Wire STOCKHOLM -- February 14, 2013 Regulatory News: Haldex: (STO:HLDX) Q4: Strong cash flow on lower volumes Haldex Group, October – December 2012 · Sales amounted to SEK 864 m compared to SEK 1,035 m in the corresponding period last year, primarily due to the continued destocking in Q4, especially in December. Adjusted for exchange rate fluctuations, sales decreased 14% compared with the same period (Q4) prior year. · Operating income and operating margin excluding restructuring costs amounted to SEK 34 m (49) and 3.9% (4.8), respectively. Operating income and operating margin including restructuring cost amounted to SEK 28 m and 3.2% respectively. · The cost reduction program of SEK 60 m initiated 2012 is finalized with annual savings expected in the region of SEK 35 – 40 m from Q2 2013. One-off expenses related to the cost reduction program amounted to SEK 6 m during the fourth quarter. · Earnings after tax amounted to SEK -4 m (24), negatively impacted by the revaluation of the Swedish tax assets of SEK 15 m due to a decrease of the Swedish corporate tax rate from 26,3 % to 22 % from January 1, 2013. Earnings per share amounted to SEK -0.09 (0.52). · Cash-flow from operating activities, excluding restructuring, was strong in the period amounting to SEK 108 m (178). · Despite the strong cash flow the Board of Directors has decided to propose a dividend of SEK 1:00 per share in order to manage future potential strategic options. · Two new members of the Haldex Group Management have been appointed; Ed Meador as Senior Vice President, North American Sales, and Per-Erik Kronqvist as Senior Vice President, Research and Development. Key ratios, Haldex Group Amounts in SEK m Jan-Dec, Jan-Dec, Oct-Dec, Oct-Dec, 2012 2011 2012 2011 Net sales 3,933 4,030 864 1,035 Operating income1) 210 235 34 49 Operating income 150 235 28 49 Operating margin, % 1) 5.3 5.8 3.9 4.8 Operating margin, % 3.8 5.8 3.2 4.8 Earnings after tax 49 142 -4 24 Earnings per share, SEK 1.02 3.08 -0.09 0.52 1)Excluding restructuring costs Comments from the President and CEO Bo Annvik; “In the fourth quarter we experienced a weaker development of our sales, particularly in December due to destocking by our major OE customers and lower vehicle demand which drove further extended factory shutdowns. In light of the lower volumes and impact on our earnings our focus turned to managing our capital base and we significantly reduced our inventories in the quarter and delivered a robust cash flow. For the full year our sales, currency adjusted, were down 3%, with flat sales in North America and Europe and a weakening development in Asia and South America. 2013 has started more positive, which make us cautiously optimistic about the market development.” Haldex Group, January – December 2012 · Sales for Haldex Group totaled SEK 3,933 m (4,030). Adjusted for exchange rate fluctuations, sales decreased 3% compared with the same period prior year. · Operating income and operating margin for Haldex Group excluding restructuring costs amounted to SEK 210 m (235) and 5.3% (5.8) respectively. Operating income and operating margin for Haldex Group including restructuring cost amounted to SEK 150 m and 3.8% respectively. · Earnings after tax for Haldex Group amounted to SEK 49 m (142). Earnings per share were SEK 1.02 (3.08). Calendar 2013 Q1: Interim report, January – March, 2013, April 25, 2013 Annual General Meeting Time: 16.00, CET, Venue: IVAs Konferenscenter, Wallenbergsalen, Grev Turegatan 16, Stockholm, April 25, 2013 Q2: Interim report January – June, 2013, July 19, 2013 Q3: Interim report, January – September, 2013, November 6, 2013 Invitation to telephone conference / webcast Media and analysts are invited to a telephone conference at which the report will be presented with comments by Bo Annvik, President and CEO, and Pramod Mistry, CFO. The presentation will also be webcasted live. Date/Time: Thursday, February 14, at 11:00 CET To join the telephone conference: You can participate with questions by telephone. Dial-in numbers: SE: + 46 8 505 598 53 UK: +44203043 2436 DK: +45369541 87 US: +1866458 40 87 Internet: The presentation will be web casted live at: http://storm.zoomvisionmamato.com/player/haldex/objects/9hxsqzcg/ The webcast will also be available afterwards and you can download the Interim Report and the presentation from Haldex website: http://www.haldex.com/en/GLOBAL/Investors/Report-archive/Interim-Reports/ www.haldex.com Haldex discloses the information in this Interim Report according to theSwedish Securities Market Act and/or the Swedish Financial Trading Act. The information was provided for public release at 8:30 CET on Thursday February 14, 2013. This information was brought to you by Cision http://www.cisionwire.com Contact: Haldex AB (publ) Pramod Mistry, CFO phone: +46 (0) 418 47 60 00 or Kristina Brink, Corporate Communications Manager / Investor Relations phone: +46 (0) 418 47 61 88 +46 (0) 705 90 91 40 Corporate Registration Number 556010-1155 E-post: email@example.com
Haldex Year-End Report 2012
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