Report January - September 2002
- Profit before tax rose by 30%
to 146.0 SEK million (112.3) in Q3, including WSP costs
of SEK 25 million
- Cash flow continued to be
strong
- Orders received stood at SEK
6 521.8 million (6 058.2)
- Net sales amounted to SEK 6
041.4 million (5 691.7)
- The profit before tax was SEK
470.6 million (425.8)
- Extensive restructuring of
Heraeus Med Tec has started
The third quarter
Orders received climbed
organically over the quarter by 4.1%. Demand for Surgical Systems
improved significantly in comparison to the year’s first two
quarters. The increase rate of orders received by Infection
Control decreased somewhat and should be seen in the light of a
very strong volume growth over the last three quarters. Extended
Care saw organic growth of 5.2%. In summary the Group’s
orders received rose organically by 5.6% during the first three
quarters and the order book continued to be at a very good level.
The profit before tax rose by 30%
compared with the same period last year. Results for the quarter
have been charged with one-off costs of SEK 25 million for
restructuring Infection Control’s manufacturing units in
France and the US. Excluding the restructuring costs, the
consolidated profit before tax soared 52%. All the business areas
reported improvements in their operating profits and operating
margins. Surgical Systems reported an exceptional increase.
The Group's cash flow development
continues to be positive.
Outlook
Good demand for the Group’s
products and services is expected to continue in all business
areas and on all the most important markets.
The Infection Control business
area, which has been, and is being significantly reorganized,
concerning its production structure and marketing organization,
strengthened its operating margin during the quarter if the one-off
costs charged to the quarter’s results are ignored. The
outlook for continued, stable, operating margins is very good
when coupled with the effects the restructuring measures will
have. Surgical Systems continued to bolster its positions and
competitive strength. The acquisition of Heraeus Med Tec, where
the restructuring scheme was started in Q3, will significantly
contribute to a profit improvement over the coming two years.
Simultaneously the potential to continue the volume growth in
general is good, not least in the US. Extended Care continued to
strengthen its operating profit on a stable, expanding market and
by continuing to concentrate on market penetration, geographic
expansion and product development, focus more on organic growth.
To sum up: the consolidated profit
outlook for both the current year and next, continues to be good.
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