Group 
Interim report for January – June 2010
Press release from Elanders AB (publ) 2010-07-15
The first half-year
- Net sales fell by 12 % totaling MSEK 809 (MSEK 921).
- Operating result amounted to MSEK -20.0 (MSEK -10.3), of which one-off costs amounted to MSEK 14.8 (MSEK -13.1).
- Pre-tax result was MSEK -33.5 (MSEK -28.7).
- Net result was MSEK -30.5 (MSEK -20.6) or SEK -3.13 per share (SEK -2.11 per share)1).
- Operating cash flow amounted to MSEK -71.4 (MSEK 67.0), of which acquisitions were MSEK -3 (MSEK 0).
- Restructuring will take place during the second half of 2010 primarily in Sweden and will charge earnings in 2010 by some MSEK 80. These measures are expected to reduce costs annually by the same amount with full effect already in 2011.
- As part of Group strategy to broaden our product range Elanders has signed a contract in July to acquire the packaging printing plant Printpack in Germany with net sales of some MSEK 100. This is expected to contribute positively to Elanders’ result in 2011.
- The Board proposes a new issue of 1:1 with an issue price of SEK 22 which will provide the company with about MSEK 215 to use in implementing structural measures, financing the acquisition in Germany and strengthening Elanders financial position. The new issue is guaranteed in its entirety by Carl Bennet AB.
- The forecast for 2010 is a pre-tax result of around MSEK -110 including the costs for restructuring during the second half of the year. A positive pre-tax result is expected in 2011.
The second quarter
- Net sales fell by 8 % totaling MSEK 409 (MSEK 445).
- Operating result amounted to MSEK -8.1 (MSEK -22.4), of which one-off costs amounted to MSEK 4.5 (MSEK -13.1).
- Pre-tax result was MSEK -14.1 (MSEK -31.6).
- Net result was MSEK -11.8 (MSEK -24.0) or SEK -1.21 per share (SEK -2.46 per share)1).
- Operating cash flow amounted to MSEK -37.2 (MSEK 45), of which acquisitions were MSEK 0 (MSEK 0).
1) There was no dilution during the given periods.
Elanders AB (publ)
