Haldex Year-End Report 2012

  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%

· 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

· 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

· 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

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:

The webcast will also be available afterwards and you can download the Interim
Report and the presentation from Haldex website:


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


Haldex AB (publ)
Pramod Mistry, CFO
phone: +46 (0) 418 47 60 00
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: info@haldex.com
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