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Interim Report January - March 2012


Best first quarter for sales and profit. Slower pace in order entry

  • Pricer reached its highest net sales and best operating profit for a first quarter
  • Order entry was lower this quarter as compared to last year. The first quarter 2011 included several large orders with longer delivery time, which was not the case this past quarter
  • Sales in the EMEA market area grew by over 30 percent
  • Alimerka in Spain has ordered systems to 50 stores, worth SEK 7 M
  • A retail chain in the US has ordered Pricer’s solution for an additional 52 stores for 2012

First quarter
Order entry: SEK 126.3 M (204.2)
Net sales: SEK 125.5 M (111.1)
Gross margin: 33 percent (30)
Operating profit: SEK 12.6 M (7.6)
Operating margin: 10.1 percent (6.8)
Net profit: SEK 10.9 M (4.9)
Cash flow: SEK 20.5 M (29.9)
Basic earnings per share: SEK 0.10 (0.05)

Comments from the CEO Fredrik Berglund
We are pleased to note that the first quarter was the best first quarter ever so far both for net sales and operating profit. We note, however, a slower pace in the order entry, which we are not pleased with. Order entry during the first quarter 2011 included several orders for deliveries during the whole of 2011, and even 2012. This type of orders with long delivery time we have not had in the past quarter. Geographically growth during the quarter comes from our main market, Europe. This is even if Carrefour defers its upgrading programme, as earlier announced, from three to four years with lower pace expected for 2012. Even if net sales decrease in certain markets during the quarter, we are not worried, as the outcome is the result of delivery and installation cycles with some larger customers. In all, we confirm our outlook to reach a higher net sales and operating profit in 2012 as

compared to 2011.

Attached files