· Net sales grew by 40 per cent to SEK 650.1 m (463.9).
· Operating profit up by 23 per cent to SEK 57.2 m (46.6).
· Net financial items were burdened by interest expenses from acquisitions and amounted to SEK -8.0 m (-0.9).
· Earnings after tax SEK 35.8 m (30.9).
· Earnings per share amounted to SEK 5.26 (4.68).
Comments from Fredrik Jönsson, CEO
"Beijer Electronics made strong progress in the second quarter. Sales and operating profit rose by some 40 per cent. The group's initiatives, including several major acquisitions over the past year, have paid off. But we're not all the way there yet and have more to do. We have also sharpened our focus on overhead costs against a background of a more challenging external environment.
The Automation business area made positive progress in the second quarter, with higher sales and profits. Our newly developed concepts for new customer segments like real estate automation and water treatment have also achieved successes on the market. The integration program in Denmark is completed, and will generate improved profits. We are also reviewing the costs of our operations in Finland.
The HMI Products business area maintained its high growth with robust profit gains, due to the acquisition of Lauer in Germany in June 2007. Lauer's integration, with restructuring and cost-cutting, has produced the expected effect, and in the second quarter, Lauer hit the business area's margin target.
The IDC business area progressed as planned in the first half-year. Its integration with the group, through measures including rationalizing processes, lifting productivity and a review of its product range, did generate some costs, which reduced business area profit. Meanwhile, we prioritized increased resources for product development in promising and high-growth segments, and launched communication products for the Industrial Ethernet segment."