· Sales and profit continued to grow robustly through the third quarter.
· The Hitech acquisition continued to progress very positively, making significant sales and profit contributions.
· Turnover rose 30 per cent to SEK 446.9 m (343.8) in the nine-month period.
· Operating profit grew 31 per cent in the period to SEK 43.8 m (33.4); profit after tax was SEK 29.4 m (24.1).
· Earnings per share: SEK 4.73 (3.88).
Comments from Göran Sigfridsson, our CEO
"I'm still very satisfied with our acquisition of Hitech Electronics, which has provided better sales and profit than we expected. Our collaboration is functioning superbly - we're now launching Hitech's products in Europe and the US under Beijer Electronics brands. The acquisition also meant the group's two business areas becoming equally sized in the third quarter. Hitech will also help Beijer Electronics achieve its best-ever year in 2005 in sales and profit terms.
HMI Products sustained its healthy growth, even excluding Hitech, and was able to retain good profitability. We've relocated some of our operator terminal production to Thailand to respond to a stronger dollar and intensifying competition. Our aim is to preserve the business area's gross margins.
Automation's sales also increased in the third quarter, which is a good sign of an investment cycle rally. Moreover, the business area has won market share. Beijer Electronics has reached an agreement with Cognex of the US in the vision systems product area, implying an extended product range in this segment."