STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
FULL-YEAR 2010
· Sales amounted to MSEK 6,624 (7,621), of which organic growth was -7 percent (-12).
· Sales of services totaled MSEK 3,186 (3,286), of which organic growth was 4 percent (-1).
· Operating profit (EBIT), excluding restructuring costs of MSEK 200 in Q1, amounted to MSEK 376 (493), corresponding to an operating margin (EBIT) of 5.7 percent (6.5).
· Profit before tax, excluding restructuring costs, amounted to MSEK 372 (460).
· The operating cash flow, excluding restructuring programs, amounted to MSEK 502 (1,075).
· Net profit amounted to MSEK 120 (320) and earnings per share amounted to SEK 0.33 (0.87).
· The Board of Directors proposes a dividend of SEK 0.30 (0.30) per share.
THE FOURTH QUARTER 2010
· Sales amounted to MSEK 1,754 (1,961), of which organic growth was -3 percent (-17).
· Sales of services totaled MSEK 805 (827), of which organic growth was 5 percent (-3).
· Operating profit (EBIT) amounted to MSEK 123 (91), corresponding to an operating margin (EBIT) of 7.0 percent (4.6).
· Profit before tax amounted to MSEK 131 (79).
· The operating cash flow, excluding restructuring programs, amounted to MSEK 299 (342).
· Net profit amounted to MSEK 91 (54) and earnings per share amounted to SEK 0.25 (0.15).
Comments by the CEO, Håkan Kirstein
The quarter was characterized by challenging market conditions, particularly in the southern parts of Europe and in the countries within the US/UK/Ireland segment. Niscayah’s organic growth amounted to -3 percent during the fourth quarter, which is not satisfactory, but it represents a sequential improvement and indicates a moderation of the negative organic growth in the company. Sales of services were good and the organic growth amounted to 5 percent during the quarter, and to 4 percent during the year, compared with the preceding year.
We continued to implement the restructuring program during the fourth quarter with the aim of reducing costs, increasing the centralization within the countries and thereby raising efficiency in the company significantly. The savings from the program amounted to approximately MSEK 35 during the fourth quarter. The program is expected to be completed during the first quarter 2011. The productivity disruptions caused by the implementation of the program in Sweden, Norway and Germany, have decreased during the fourth quarter and are expected to cease in connection with the program’s completion. The work on improving the cash flow is yielding results and the operating cash flow for the year, excluding restructuring programs, amounted to MSEK 502, corresponding to 124 percent of EBITA.
We are in a long-term transformation process and the work is proceeding as planned.
Press conference
A press conference will be held at Niscayah's head office at Lindhagensplan 70 in Stockholm on February 14, 2011 at 10.30 a.m. CET. 10.30. To follow the press conference by phone (and ask questions), please call:
| Sweden: +46 (0)8 505 598 53 |
| UK: +44 (0)203 043 24 36 |
| US: +1 866 458 40 87 |
| The press conference may also be followed online via the link: |
|
http://storm.zoomvisionmamato.com/player/niscayah/objects/fmpjxvrw |
Niscayah Group AB (publ) is a world-leading security company specialized in technical security services. Niscayah offers complete security solutions for customers with high security demands within segments such as bank and post, retail, utilities, transport and logistics and gas stations. Niscayah has approximately 5,300 employees and is present in 14 countries in Europe as well as in the US. www.niscayah.com (http://www.niscayah.com/)
Niscayah Group AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information is submitted for publication on February 14, 2011 at 08.30. CET.
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