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2012-04-17

Interim report 1 September 2011 – 29 February 2012

Interim report 1 September 2011 – 29 February 2012

for Bergs Timber AB (publ)

Summary

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Interim report period (1 September 2011 – 29 February 2012)

- The Group reports net sales of SEK 401.7 (401.8) million, an operating loss of SEK -12.6 (-22.8) million and a loss of SEK -21.8 (-29.1) million after financial items.
- A loss of SEK -16.2 (-21.4) million after tax was recorded, resulting in earnings per share of SEK -2.34 (-3.10) after tax. Shareholders’ equity per share was SEK 30.99 (35.94).
- The improvement in results is primarily attributable to lower raw material costs. In addition, profits were affected by recognised exchange rate differences of SEK 2.8 (9.9) million and market valuation of electricity derivatives at SEK -0.8 (1.4) million. In the previous year an impairment adjustment of SEK -9.6 million was charged against earnings for inventories of sawn timber on the basis of a quality classification in which a fair value appraisal was applied.
- Cash flow from day-to-day operations totalled SEK -7.5 (-65.4) million.
- Production of sawn timber totalled 149,000
, which is unchanged since the previous year. The volumes processed at the timber protection company Bitus exceeded those of the preceding year by 34 percent.- Shipments of sawn timber rose by 4 percent.

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Second quarter (1 December 2011 – 29 February 2012)

- The Group reports net sales of SEK 196.6 (186.6) million, an operating loss of SEK -4.0 (-21.6) million and a loss of SEK -8.4 (-25.2) million after financial items.
- A loss of SEK -6.3 (-18.6) million after tax was recorded, resulting in earnings per share of SEK -0.91 (-2.70) after tax.
- The improved results were above all attributable to higher margins on the sale of sawn timber. Lower raw material costs and higher productivity at the sawmills had a positive impact on margins, while lower selling prices had a negative impact. In addition, profits were affected by recognised exchange rate differences of SEK 3.9 (5.5) million.
- Production of sawn timber rose by 20 percent. The volumes processed at the timber protection company Bitus exceeded those of the preceding year by 48 percent.
- Shipments of sawn timber rose by 7 percent.

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Read the whole official report(inswedish),clickhere:
http://feed.ne.cision.com/wpyfs/00/00/00/00/00/19/42/BD/wkr0006.pdf