Axel Johnson AB - Report on First Half of 2001.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Sept. 6, 2001 All operations in the Axel Johnson AB
Axel Johnson AB is a Swedish food importer and retailer, and part of the Axel Johnson Group, with a history going back to 1873. Group developed favorably during the first six months of 2001. Excluding VAT, sales during the period amounted to SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3.4 billion (3.2). The increase was attributable to the positive trend of sales within Servera and Ahlens. Including partly owned companies, sales totalled SEK 21 billion, up 7 percent compared with the corresponding period in the preceding year. Operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before rose to SEK 83 M from a loss of SEK 47 m. Earnings before appropriations, taxes and minority interests amounted to SEK 66 M (loss: 27). For comparable units, earnings improved by SEK 100 M. The positive trend was due primarily to the favorable development shown by AxFood. The Group's financial position remains strong. As at June 30, the equity/assets ratio was 47 percent, compared with 49 percent at the end of 2000. The net debt/equity ratio Debt/Equity Ratio A measure of a company's financial leverage calculated by dividing long-term debt by shareholders equity. It indicates what proportion of equity and debt the company is using to finance its assets. was zero, unchanged compared with the position at year-end 2000. The Axel Johnson Group The Axel Johnson Group is a Swedish fourth-generation family-owned company. It traces its origins to the trading company A. Johnson & Co, founded in 1873. The Group consists of four legally and financially independent groups with a common owner, Antonia Ax:son Johnson and her is a fourth-generation, family-owned company, originating in the A. Johnson & Co. trading company, founded in 1873. The group consists of four legally and financially independent groups with a common owner, Antonia Ax:son Johnson and family. In addition, Axel Johnson has proprietary interests in the British company Spirent, listed on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. , and in Nordstjernan, which in turn has major interests in other listed companies, including NCC NCC See National Clearing Corporation (NCC). . Axel Johnson AB focuses on consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and and services for the Nordic market in general and Sweden in particular. Currently, the majority of Axel Johnson AB's operations is represented by wholly owned Ahlens and Servera, by partly owned exchange-listed Axfood and by Saba Trading. Subsidiaries and affiliated companies report sales totalling SEK 41 billion, with 13,000 employees. Axel Johnson International AB is engaged in the trading and distribution of industrial products, primarily for the European market. Sales total SEK 4.6 billion, and the number of employees 1,200. Axel Johnson Inc., with the majority of its operations in North America, provides products and services in the business areas Energy, Environment and Communications Technology. Sales total SEK 24 billion, and the number of employees 1,150. AxFast BV owns real estate in Sweden with the focus on commercial premises for trade and distribution. At year-end 2000, the portfolio comprised some 80 properties, amounting to 644,000 square meters of space. |
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