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Year-end Report 2011

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New record in sales and profit for the quarter and the year · During 2011 a number of agreements have been signed and an increased number of pilot proje...

New record in sales and profit for the quarter and the year

  • During 2011 a number of agreements have been signed and an increased number of pilot projects were installed
  • The arbitration against ProMargin ended and Pricer will pay SEK 1.9 M in damages. In total, the process has cost SEK 3.6 M during the quarter and SEK 5.8 M during the year
  • The operating profit before these costs was SEK 30.1 M in the quarter and SEK 82.5 M for the year, equivalent to an operating margin of 15.7 percent and 13.5 percent respectively
  • A new portion of the tax-loss carry forward has been capitalised, which improved the net profit and earnings per share
  • The board of directors proposes an increased dividend of SEK 0.25 (0.20) per share
  • Increased net sales and operating profit is expected for 2012 as compared to 2011

Fourth quarter

  • Order entry:                                  SEK 148,2 M (144.0)
  • Net sales:                                     SEK 191.9 M (161.3)
  • Gross margin:                               32 percent (33)
  • Operating profit:                            SEK 26.5 M (26.0)
  • Operating margin:                         13.8 percent (16.1)
  • Net profit:                                     SEK 102.5 M (25.6)
  • Cash flow:                                    SEK 29.7 M (13.3)
  • Basic earnings per share:              SEK 0.95 (0.24)

Full year

  • Order entry:                                  SEK 648.1 M (439.0)
  • Net sales:                                     SEK 613.0 M (447.2)
  • Gross margin:                               32 percent (37)
  • Operating profit:                            SEK 76.7 M (60.8)
  • Operating margin:                         12.5 percent (13.6)
  • Net profit:                                     SEK 150.3 M (56.2)
  • Cash flow:                                    SEK 5.9 M (-15.3)
  • Basic earnings per share:              SEK 1.40 (0.54)

 
Comments from the CEO Fredrik Berglund
It is gratifying that the strong development for Pricer continues also during the fourth quarter both with regards to net sales and profit. During the year a number of important agreements have been signed and the number of pilot projects has doubled as compared to last year. Furthermore, an increasing number of custom­ers, also outside the traditional food retail, have discovered the advantages with the solution of Pricer. By geography, growth has increased during the quarter in the region of America. The uncertainty of the economic climate however, makes judge­ment about the company’s development in 2012 more difficult. We are expecting a deferral of the revenue from Carrefour, which have informed that they will extend the project of upgrading of our system in their hypermarkets from earlier three to four years. In all, however, despite the above, our outlook is that we will reach a higher net sales and operating profit in 2012 as compared to 2011.

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