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2016-02-08

ÅF AB: ÅF AB Year-end report 2015

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| For further information, please contact: |
| Jonas Wiström, President and CEO +46 70 608 12 20 |
| Stefan Johansson, CFO +46 70 224 24 01 |
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Fourth quarter 2015

* Net sales amounted to SEK 2,717 million (2,376)
* Operating profit, excl items affecting comparability , totalled SEK 257
million (205)
* Operating margin, excl items affecting comparability, was 9.5 percent (8.6)

* Operating profit totalled SEK 261 million (229)
* Operating margin was 9.6 percent (9.6)
* Profit after tax totalled SEK 191 million (171)
* Earnings per share, before dilution: SEK 2.46 (2.21)

January-December 2015

* Net sales amounted to SEK 9,851 million (8,805)
* Operating profit, excl items affecting comparability, totalled SEK 832
million (747)
* Operating margin, excl items affecting comparability, was 8.4 percent (8.5)

* Operating profit totalled SEK 839 million (756)
* Operating margin was 8.5 percent (8.6)
* Profit after tax totalled SEK 609 million (553)
* Earnings per share, before dilution: SEK 7.81 (7.16)
* The Board proposes a dividend per share for 2015 of SEK 3,75 (3.50)

A few words from the President, Jonas Wiström:

ÅF's operating profit for the fourth quarter was the highest ever. Excluding
items affecting comparability, operating profit amounted to SEK 257 million
(205), a rise of 25 percent, and the operating margin rose to 9.5 percent
(8.6). All divisions improved their operating profit and they all either
increased their operating margins or maintained them at a good level. It is
also gratifying that growth remains strong, with a net sales increase of 14
percent, combined with good cash flows.

The reorganisation of the Industry and Technology divisions provided the
synergies that had been identified and have now helped to improve earnings.

The Infrastructure Division continues to deliver strong growth while
maintaining its operating margin.

The International Division, which has its seasonally strongest performance in
the fourth quarter, continues to improve its earnings despite a weak European
domestic market in the energy sector. Investments in power generation are a
predominant portion of the Division's business exposure. Efforts made in the
Division with both the restructuring and an increase in the proportion of
projects outside Europe has been successful.

During the quarter, an important step was taken in the strong infrastructure
markets of Sweden and Norway when the Norwegian engineering and consulting
company Reinertsen and ÅF decided to combine their infrastructure operations
in Norway in a jointly owned company starting in February 2016. A decision to
acquire Reinertsen's infrastructure business in Sweden was made at the same
time. This provides a good basis for continued growth in the Infrastructure
Division.

The businesses acquired during the year have progressed well. With the
acquisition of LeanNova Engineering, originally part of the former Saab
Automobile's development department, ÅF is now the leading and most
comprehensive provider of development services to the automotive industry in
the Nordic countries. ÅF offers end-to-end solutions and has expertise in
everything from joining systems together to developing complete cars.

ÅF's services to the pharmaceutical industry were strengthened by the
acquisition of PRC Engineering and its specialists, while the acquisition of
EQC strengthened ÅF's infrastructure services in road and rail.

Six businesses were acquired during the year, resulting in a net sales
increase of about SEK 800 million on a full-year basis.

The strong finish to the year meant that the total operating income for 2015
increased to SEK 832 million (747), an increase of 11 percent, excluding
items affecting comparability, and that net sales increased 12 percent.
Despite some challenging changes in the market, especially in the energy
sector, ÅF has continued its growth strategy while maintaining profitability
and a strong cash flow.

Net sales have now surpassed one billion euros, which means that ÅF has
exceeded the 2015 target set five years ago. The target for 2020 is for ÅF to
generate net sales of at least EUR 2 billion and achieve an operating margin
of at least 10 percent over a business cycle.

Group Head Office:
ÅF AB (publ), SE-169 99 Stockholm, Sweden
Visitors' address: Frösundaleden 2, 169 70 Solna, Sweden
Tel. +46 10 505 00 00 Fax +46 10 505 00 10
www.afconsult.com/info@afconsult.com

Corporate ID number 556120-6474

The information in this interim report fulfils ÅF AB's disclosure requirements
under the provisions of the Swedish Securities Markets Act and/or the
Financial Instruments Trading Act. The information was released for
publication at 13.00, 8 February, 2016.

All assumptions about the future that are made in this report are based on the
best information available to the company at the time the report was written.
As is the case with all assessments of the future, such assumptions are
subject to risks and uncertainties, which may mean that the actual outcome
differs from the anticipated result.

This is a translation of the Swedish original. The Swedish text is the binding
version and shall prevail in the event of any discrepancies.

The full report including tables (pdf) is available for download

Year-end Report January - December 2015
http://hugin.info/1253/R/1984346/727457.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ÅF AB via Globenewswire

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