Interim Report 1 April – 30 September 2013 (6 months)

07.11.2013

B&B TOOLS
Interim report

Interim Report 1 April – 30 September 2013 (6 months)


  -- Revenue amounted to MSEK 3,734 (3,827).
  -- Operating profit increased to MSEK 152 (93).
  -- Profit after net financial items increased to MSEK 122 (56).
  -- Profit after taxes increased to MSEK 90 (39).
  -- Earnings per share increased to SEK 3.20 (1.40).
  -- Return on equity for the most recent 12-month period increased to 13
     percent (8).
  -- Cash flow from operating activities totalled MSEK 127 (–47).
  -- The equity/assets ratio at the end of the reporting period was 42 percent
     (33).



Second quarter (1 July–30 September 2013)

  -- Revenue for comparable units, measured in local currency, decreased by –2
     percent during the second quarter.
  -- Operating profit amounted to MSEK 87 (67) during the quarter.



President’s statement

The second quarter of the financial year was marked by a continued lag in
demand in Sweden and Finland. While our operations in the Norwegian market
reported a positive trend, due the weakening of the Norwegian krona (NOK) this
positive development was not fully reflected in the Group’s revenue translated
into Swedish krona (SEK). 

The decline in revenue was offset by slightly higher contribution ratios and
lower operating expenses during the quarter compared with the year-earlier
period. In total, operating profit increased for the quarter, with a
particularly strong earnings trend reported for the Business Areas Luna, Skydda
and Essve. At the same time, working capital continued to decline and the
Group’s profitability, measured as operating profit in relation to working
capital* (P/WC), continued to develop positively during the quarter and
amounted to 19 percent (15) for the most recent 12-month period. This has
contributed to a strong cash flow for the reporting period. 

By strengthening our customer focus and increasing efficiency through the use
of our new IT and logistics solutions the efforts to improve our operating
profit and decrease our funds tied up in working capital continue. 



Stockholm, November 2013



Ulf Lilius
President & CEO

* Working capital = Inventories + Accounts Receivable – Accounts Payable.



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