Printer Friendly

Svedala reports preliminary 1994 results.

MALMO, SWEDEN--(BUSINESS WIRE)--February 10, 1995--Svedala Industri AB, a worldwide leader in products and systems for the construction and civil engineering, mineral processing and materials handling industries, today released preliminary financial results for 1994.

The company expects to show a pre-tax profit, after net financial expenses, of SEK 580 million (US $78 million) for the year, up from SEK 88 million (US $12 million) in 1993. The profit comes on invoiced sales of SEK 10,344 million (US $1,387 million), up slightly from 1993. The improved earnings are the result of increased sales volume and reduced costs.

The profit figure includes a capital gain from the sale of the company's forklift operations and a writedown of goodwill, which generated a net profit of SEK 84 million.

The biggest improvements in profit after depreciation occurred in Europe (from SEK 148 million to SEK 283 million) and North America (from SEK 80 million to SEK 168 million), Svedala's most important markets.

Return on shareholders' equity grew to 19 percent. Return on assets increased from 7 to 17 percent. In Europe, return on assets grew from 8 to 18 percent and in North America from 9 to 18 percent. For comparable business units, invoiced sales grew 13 percent over 1993, to SEK 9,500 million. The largest growth occurred in North America (21 percent) and the Asia Pacific region (31 percent). In recent years, Svedala has established operations in China, Vietnam, Malaysia and India.

Profit after net financial expenses for the fourth quarter amounted to SEK 185 million (US $25 million), up from SEK 146 million (US $20 million) in 1993. Orders grew 13 percent in Europe, 10 percent in North America and 15 percent in the Asia Pacific region.

-0-
 Svedala Industri AB
 Preliminary 1994 Results (SEK millions)


 4th quarter
 1994(a) 1993 1994(a)


Order bookings 10,524 10,656 2,662
Invoiced sales 10,344 10,318 2,775
Profit after depreciation 677 337 193
Associated companies (1) (6) --
Net financial items (96) (243) (8)
Profit after net financial
 items 580 88 185
(a)Preliminary


CONTACT: Glenwood Communications

US--Robert Mueller, 1-708-352-9225;

Svedala Industri AB

Sweden--Rolf Jonegard, Chief Financial Officer,

+46 40 24 58 00
COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 10, 1995
Words:366
Previous Article:Countrywide and Other National Lenders Sign On with MixStar Mortgage Information Exchange; National and State Associations Also Sign On with Mortgage...
Next Article:T-HQ announces reverse stock split.


Related Articles
World MDF capacity doubles.
Sandvik enters U.S. crushing scene. (Installations).
General casting to buy hodge foundry from Metso minerals. (Acquisitions).
HIGH DESERT HOSPITAL SCORES 98 OUT OF 100 : COUNTY-RUN SITE PRAISED.
COUPLE TO STAND TRIAL IN CHILD ABUSE CASE.
INDICTMENT RETURNED IN CIA TREASON CASE.
Metso opens metals recycling office. (Equipment Report).
Metso EC shear sold. (Equipment Report).
Metso adds personnel. (Equipment Report).

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters