2012-10-09
Year-End Report, 1 September 2011 – 31 August 2012 for Bergs Timber AB (publ)
Summary
Financial Year (1 September 2011 – 31 August 2012)
- The Group reports net sales of SEK 824.5 (853.0) million, an operating loss of SEK 34.4 million (SEK 36.6 million) and a loss of SEK 52.9 million (SEK -53.5 million) after financial items.
- A loss of SEK -39.0 (-39.4) million after tax was recorded, resulting in earnings per share of SEK -5.66 (-5.71) after tax. Shareholders’ equity per share was SEK 27.68 (33.33).
- The operating result for the previous financial year was affected favourably by the amount of SEK 31.8 million due to profits from the sale of forest properties, and adversely affected by an impairment adjustment of SEK 8.8 million for machinery and equipment, as well as other costs in connection with the closure of operations at Järnforsen.
- Once the above-mentioned one-time effects that occurred last year are taken into consideration, the Companys results are better this year. The improvement in results is due to lower raw material costs and improved productivity. Lower selling prices for sawn timber have had an adverse effect on results.
- Results were affected favourably by recognised exchange rate differences of SEK 3.7 (9.7) million.
- Cash flow from day-to-day operations totalled SEK 17.0 (-45.2) million.
- Production of sawn timber declined by 4 percent.
- Volumes processed at Bitus rose by 8 percent.
Fourth Quarter (1 June 2012 – 31 August 2012)
- The Group reports net sales of SEK 187.7 (209.7) million, an operating loss of SEK 10.2 million (SEK 11.0 million) and a
loss of SEK 14.3 million (SEK 17.1 million) after financial items.
- A loss of SEK 10.5 (12.5) million after tax was recorded, resulting in earnings per share of SEK -1.52 (-1.81) after tax.
- In the previous year, results were affected favourably by the amount of SEK 4.2 million by the sale of forest properties.
- Results were affected favourably by the amount of SEK 1.7 (3.7) million from revaluation of forest properties.
- Results were affected by recognised exchange rate differences of SEK 5.2 (-0.8) million.
- Once the above-mentioned effects are taken into consideration, operating results are at the same level as the previous year. Results were affected favourably in comparison with the previous year by lower raw materials costs, and negatively affected by lower selling prices for sawn timber and secondary products. Lower production and delivery volumes have had a negative impact on results.
- Cash flow from day-to-day operations totalled SEK 8.1 (8.0) million.
- Production of sawn timber declined by 10 percent.
- Volumes processed at Bitus declined by 14 percent.
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- The Board of Directors proposes that no dividend be paid.
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