|
|
 |
|
October 31, 2005
Interim Report Q3 2005
Net sales for the remaining operations increased by 11% to SEK 4,715 m (4,257 ). Net earnings for the entire Group amounted to SEK 378 m (215).
- Following the close of the interim report period, Industri Kapital reached an agreement regarding the sale of Sydsvenska Kemi AB to PAI partners, a French private equity company. The transaction is expected to be completed in full by year-end.
- Following the close of the interim report period, Perstorp is completing its concentration to specialty chemicals operations through the sale of the activities within Compounds. A provision of SEK 44 m was posted during the third quarter, which affects earnings within the Operations held for sale category.
Net sales for the remaining operations increased by 11% to SEK 4,715 m (first nine months of 2004: SEK 4,257 m). On the whole, the exchange rates affecting sales were in line with the year-earlier period.
Operating earnings, before depreciation, from the remaining operations increased to SEK 930 m (755). Current-year earnings were affected by the reversal of acquisition balance sheet reserves totaling SEK 48 m, while the comparative period was affected by rationalization costs of SEK 67 m. The somewhat lower comparable profi t margin was due to a weaker exchange rate for the USD in currency hedging contracts, which was largely offset by effi ciency gains. In accordance with IFRS 5, operations that have been divested or that are being held for sale are reported separately in the income statement, under Net earnings.
Net earnings for the entire Group amounted to SEK 378 m (215).
Cash flow from operational activities was very strong during the interim report period and amounted to SEK 735 m (523). Cash flow from investing activities was also positive at SEK 253 m (neg: 69), as a result of the sale of Vyncolit.
Perstorp is investing SEK 60 m in the manufacture of potassium formates, to strengthen its leading position in the global market for formates.
Read the Interim Report in full (pdf)
|
|
|
|
