· Robust sales and profit increases
· Hitech acquisition progressing positively
· Net turnover rose 23 per cent to SEK 293.5 m (238.2) in the half-year
· Operating profit grew 15 per cent to SEK 28.5 m (24.7) m in the half-year
· Profit after tax was SEK 19.8 m (18.0)
· Earnings per share: SEK 3.18 (2.89)
Comments from Göran Sigfridsson, our CEO
"Our acquisition of Hitech Electronics was a milestone in Beijer Electronics' history and a momentous strategic step for the group. So far, Hitech's integration has been very smooth, going completely according to plan, while the company's sales and profits are better than expected. I'm also pleased that our business in HMI Products is maintaining its healthy expansion, particularly the new operator terminal, EXTER. Moreover, the coordination and reorganization of Automation is now generating palpable effects, with robust sales and profit gains."
"During the second quarter, HMI Products posted its best-ever quarter in sales terms, including and excluding Hitech. And despite a heavier burden from development expenses, profits improved, even excluding Hitech. Other positives include very healthy sales performance in the US and Germany, and our launch of EXTER exceeding expectations."
"Automation has been able to benefit from a market rally, while we're also noting a positive effect from our new group-wide pan-Nordic marketing and procurement structure. A new central warehousing unit is now onstream on our logistics side, and its ramp-up has progressed well. The second quarter was the business area's best so far in sales and profit terms, and Automation is now strongly positioned to respond to a growing market and increased competition."