Höganäs Year-End Report 2009 - Record Volumes in Asia, Positive Earnings Performance and Pop Center Opening
Regulatory News:
Höganäs AB (STO:HOGAB):
CEO Alrik Danielsson comments on fourth quarter earnings: - The market
performed robustly in the fourth quarter, especially in Asia. Sales
volumes in China and India were the highest ever. However, the demand
situation going into 2010 remains uncertain. Accordingly, the group has
maintained a sharp focus on costs and cash flow. Meanwhile, we are
making major initiatives in research and development, and are pleased by
the response we have received from our customers and end-users to our
new prototyping centre, the PoP (Power of Powder) Centre in Höganäs,
which opened in October. The Centre got off to a flying start and will
play a key role in Höganäs’ future progress, and in driving powder
metallurgy to a new level.
Fourth 2009 (compared to corresponding period of previous year):
• Net sales were MSEK 1,364 (1,353) in the quarter, up 1% year on year.
Sales volumes were 27% higher. Demand conditions improved on all markets
in the fourth quarter.
• Operating income was MSEK 213 (-32) and income after tax was MSEK 157
(-4). Volume increases and positive effects of cost savings and price
increases had a positive impact on profit.
• Earnings per share for the quarter were SEK 4.50 (-0.13).
• Cash flow from operating activities was MSEK 129 (54).
• In the quarter, the net debt/equity ratio multiple reduced to 0.43
from 0.50.
1 January – 31 December 2009 (compared to previous year):
• Net sales were MSEK 4,571 (6,103) in the year, down 25% year on year.
Sales volumes were down 23%.
• Operating income was MSEK 298 (527) and income after tax was MSEK 206
(394). The profit deterioration was mainly caused by lower sales
volumes, especially during the first half-year.
• Earnings per share were SEK 5.92 (11.31).
• Cash flow from operating activities was MSEK 855 (564).
• The Board is proposing a cash dividend of SEK 3.00 per share (3.00).
• The outlook for a progressive improvement in demand is unchanged since
the third quarter. The market remains weak in most countries apart from
China and India, but demand conditions improved through the year.
Höganäs, Sweden, 9 February 2010
Höganäs AB (publ)
Streamed press conference
Alrik Danielson, CEO, and Sven Lindskog, CFO, will present the Interim
Report in a conference call at 10:30 a.m. on 9 February 2010.
The press conference will be streamed at: http://www.hoganas.com/Investor-Relations/Conference-Call/
. It is open to journalists, analysts and investors. Participants are
welcome to call on +44 (0)207 162 0125. The presentation is available at www.hoganas.com.
NB:
This information is mandatory for Höganäs to publish pursuant to the
Swedish Securities Markets Act. The information was submitted for
publication at 9 a.m. on 9 February 2010.
About Höganäs
Höganäs AB is the world's leading producer of iron and metal powders.
Building on its clear vision of the possibilities of powder to improve
efficiency, the consumption of resources and environmental impact across
a raft of segments, the company has developed in-depth application
skills.
Thus Höganäs can help create the automotive components, white goods,
water and exhaust treatment products of the future in collaboration with
its customers. Founded in 1797, the company had sales of MSEK 4,571 in
2009, and is quoted on NASDAQ OMX Stockholm's Mid Cap List. For more
information, visit our website: www.hoganas.com.
This information was brought to you by Cision http://www.cisionwire.com
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