Interim Report January – September 2011

NET ASSET VALUE

  • The net asset value amounted to SEK 126 per share on 30 September, compared to SEK 157 per share at the beginning of the year.

INDUSTRIAL OPERATIONS

Third quarter

  • Orders received in the industrial operations increased to SEK 1,618 (1,296) m, which is an organic increase of 8 percent adjusted for exchange effects.
  • Net sales in the industrial operations amounted to SEK 1,655 (1,243) m, an organic increase of 16 percent adjusted for exchange effects.
  • Operating result in the industrial operations increased to SEK 218 (159) m, an increase of 37 percent which corresponds to an operating margin of 13.2 (12.8) percent in continuing operations.
  • The merger between Latour and SäkI was completed at the beginning of July.
  • At the beginning of July Latour sold the property in Gothenburg, where it has its headquarters, for SEK 110 m.
  • At the beginning of August the Latour Industries business area acquired Superbolt Inc. and Swiss P&S Vorspannsysteme AG.
  • In August the Latour Industries business area divested Stenbergsgruppen.

January to September
*Orders received in the industrial operations increased to SEK 5,224 (3,973) m, which is an organic increase of 18 percent adjusted for exchange effects.
*Net sales in the industrial operations amounted to SEK 4,985 (3,745) m, an organic increase of 19 percent adjusted for exchange effects.
*Operating result in the industrial operations increased to SEK 610 (418) m, an increase of 46 percent which corresponds to an operating margin of 12.2 (11.2) percent in continuing operations.

GROUP
*Group result after net financial items amounted to SEK 1,702 (785) m.
*Group result after tax amounted to SEK 1,556 (655) m, or SEK 11.14 (5.08) per share.
*The net loan debt level amounted to SEK 395 m at the end of September. The debt level is less than 2 percent of the market value of total assets.

INVESTMENT PORTFOLIO
*The investment portfolio value decreased by -22.3 percent while the comparable index (SIXRX) decreased by -20.3 percent in the first nine months.
*At the beginning of September Latour’s holdings in Niscayah were sold for SEK 739 m, entailing capital gains of SEK 468 m.

EVENTS AFTER THE REPORT PERIOD
*No significant events have taken place.