Brief: Beijer Electronics Q4 EBIT Swings To Loss Of SEK 5.2 Mln

Ependion AB

28/01/2021 12:03

Jan 28 (Reuters) - Beijer Electronics Group AB  BELE.ST :
    * FINANCIAL STATEMENT 2020: DEMAND RECOVERY CREATES
POTENTIAL FOR
BETTER PERFORMANCE IN 2021
    * Q4 ORDER INTAKE AMOUNTED TO 397 MSEK (407).
    * Q4 NET SALES WERE 350 MSEK (415).
    * Q4 EBIT OF -5.2 MSEK (22.0).
    * Q4 BOARD OF DIRECTORS IS PROPOSING A DIVIDEND OF 0 SEK (0)
FOR
FINANCIAL YEAR 2020.
    * BEIJER GROUP'S BUSINESS WAS STILL IMPACTED BY EFFECTS OF
COVID-19 IN Q4
    * EARLY IN QUARTER, OPERATIONS PROGRESSED POSITIVELY, BUT AS
SECOND WAVE OF INFECTION ACCELERATED, AND COUNTRIES IMPLEMENTED
TIGHTER RESTRICTIONS, MARKET SLOWED MID-PERIOD, TO THEN
STABILIZE TOWARDS YEAR-END.
    * DEMAND SAW SOME FLUCTUATIONS IN PERIOD, BUT OVERALL,
GROUP'S
ORDER INTAKE-ITS MOST IMPORTANT LEAD INDICATOR-INCREASED BY 28%
IN Q4 ON THIRD.
    * ACTIONS AND INITIATIVES IMPLEMENTED IN YEAR HAVE CREATED A
SOLID
PLATFORM FOR PROFITABLE GROWTH AND INCREASED DEMAND.
    * PROGRAM OF MEASURES INITIATED IN MARCH, WHOSE AIM WAS TO
REDUCE
OUR OVERHEADS BY 25-30 MSEK IN 2020 AND 40-45 MSEK ANNUALIZED
SUBSEQUENTLY, HAS GONE AS PLANNED AND HAD INTENDED EFFECT

Source text for Eikon:  ID:nWkr4SvByC 
Further company coverage:  BELE.ST 

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