NET ASSET VALUE
- The net asset value amounted to SEK 171 per share compared to SEK 162 per share at the beginning of the year. This is equivalent to an 8.9 percent increase adjusted for dividends compared to the dividend adjusted comparable index (SIXRX) which increased by 9.0 percent. The net asset value on 19 August was SEK 184 per share.1)
INDUSTRIAL OPERATIONS
Second quarter
*Orders received in the industrial operations increased to SEK 1,889 (1,880) m, an organic growth of comparable units by 5 percent adjusted for exchange effects.
*Net sales in the industrial operations amounted to SEK 1,764 (1,760) m, an organic growth of comparable units by -4 percent adjusted for exchange effects.
*Operating result before restructuring costs amounted to SEK 168 (170) m, a reduction of 1 percent, which is the equivalent of an operating margin of 9.5 (9.7) percent in continuing operations.
*Swegon acquired Walter Meier (Klima Deutschland) with 111 employees and EUR 37 m in annual net sales. See page 3 in the quarterly report for further details.
January to June
*Orders received in the industrial operations decreased to SEK 3,574 (3,653) m, an organic growth of comparableunits by -6 percent adjusted for exchange effects.
*Net sales in the industrial operations amounted to SEK 3,384 (3,468) m, an organic growth of comparable units by -6 percent adjusted for exchange effects.
*The operating result before restructuring costs amounted to SEK 300 (318) m, a reduction of 6 percent, which is the equivalent of an operating margin of 8.8 (9.2) percent in continuing operations.
GROUP
*Group result after net financial items amounted to SEK 710 (722) m.
*Group result after tax amounted to SEK 624 (650) m, or SEK 3.91 (4.08) per share.
*Net debt amounted to SEK 2,185 m at the end of June, compared to SEK 1,568 m at the end of the year, and was equal to 7.4 percent of the market value of the companys entire assets.
INVESTMENT PORTFOLIO
*During the first six months the investment portfolios value increased by 11.1 percent adjusted for dividends while the comparable index (SIXRX) increased by 9.0 percent.
EVENTS AFTER THE REPORT PERIOD
*LSAB acquired Teroteknisk Service in Norway. See page 3 in the quarterly report for further details.
1)The calculation of the net asset value on 19 August 2013 was based on the value of the investment portfolio at 1 p.m. on 19 August and the wholly owned industrial operations were calculated with the same values as on 30 June.
Göteborg, 20 August 2013
INVESTMENT AB LATOUR
Jan Svensson
President and CEO
For further information please contact:
Jan Svensson, President and CEO, Tel. +46 705-77 16 40 or
Anders Mörck, CFO, Tel. +46 706-46 52 11.