· Net sales increased by 38 per cent to SEK 304.4 m (220.3).
· Operating profit up to SEK 24.2 m (22.9).
· Net financial items reduced by interest expenses from acquisitions of SEK -3.8 m (0.1).
· Earnings after tax SEK 14.5 m (16.7).
· Earnings per share amounted to SEK 2.14 (2.55).
COMMENTS FROMÂ GÖRAN SIGFRIDSSON, OURÂ CEO
"Beijer Electronics achieved high growth in the first quarter. But this was an inconsistent period with varying demand. Combined with non-recurring events, this affected consolidated profits, which were lower than planned. However, I have good hopes that Beijer Electronics will be able to make up this downturn in the rest of the year.
Essentially, the strategic acquisition of Westermo at year-end, which is now a new and independent business area in the group-Industrial Data Communications (IDC)-went as planned. The business area launched a new product range in the Industrial Ethernet segment in the quarter.
The Automation business area experienced a slower market in the quarter, resulting in lower profits. Previous acquisitions in Denmark and Finland are going as planned, and had a positive effect on sales, but have not reached the business area's margin goal.
The HMI Products business area enjoyed sustained high growth, due to the acquisition of Lauer of Germany in 2007. Lauer's integration is going as planned, and the full effect on margins will be realized progressively. However, business area organic sales were lower than expected, resulting in some reduction of profits and margin."