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October 22, 2004
Record profit and continued volume growth
· Order volumes up 6%, 4% negative currency translation effect. · Revenues reached MSEK 12 760 (11 598), up 6% in volume. · Operating profit margin increased to 15.4% (12.7). · Profit after financial items increased 35% to MSEK 1 847 (1 368). · Net profit increased to MSEK 1 229 (891). · Earnings per share was SEK 5.86 (4.25). · Operating cash flow totaled MSEK 1 647 (1 702). · Agreement to sell electric tools business to Techtronic Industries in Hong Kong. Note: All comparative figures are for the third quarter of 2003, unless otherwise stated. Near-term demand outlook In North America, the non-residential construction sector is expected to improve and the demand from the manufacturing and process industries is foreseen to stay unchanged at the current favorable level. The overall demand in Western Europe is also expected to remain at the current level, while Eastern Europe still provides good opportunities for growth. The growth of demand in Asia is expected to continue, but at a slower rate compared to the most recent quarters.