Nine months report 2009

FlexLink’s sales for the first nine months 2009 reached SEK 848 million which is 14% lower than in the previous year. The order intake is 25% less but the successful execution of the backlog from last year is compensating for the weak investment climate.  New products attract increased interest from customers in all FlexLink’s industry segments. 

Mattias Perjos, CEO: "I am pleased that we were able to protect profitability despite a significant sales volume reduction in the second quarter compared to the same quarter last year. The order intake has slightly improved since the beginning of the year, but the market conditions remain very challenging, and we continue to have a strong focus on cost control. At the same time we invest in our new product development program to be well positioned when the market climate improves again."

• Net sales for the third quarter were SEK 264 (332) million and 848 (984) million for the nine month period, which is a decrease of 14 % compared to previous year. 
• The order intake for the quarter was SEK 262 (326) million and 827 (1108) million for the nine month period. This is corresponds to a drop of 25% compared to the previous year. The order intake level has stabilized but the weak investment climate in industrial markets is expected to continue.
• Earnings before interest, taxes, depreciation and amortization of intangible assets (EBITDA) were SEK 7 (33) million for the third quarter. For the nine months, earnings were SEK 60 (94) million and the EBITDA margin was 7% (10%). Currency exchange rates had a negative impact of SEK 18 million on the third quarter EBITDA result. 

• Newly launched products continue to show good results. The spiral elevator, launched in June has received strong interest from customers in FlexLink’s major industry segments. 

The financial information for 2009 and 2008 refers to the FlexLink Holding AB Group.