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BTS Group AB (STO:BTS) Continued growth; dollar rate impacts negatively
* Net turnover increased by 2 percent during the first half-year and amounted to MSEK 270.5 (265.4). Adjusted for changes in exchange rates, growth was 12 percent. * The operating profit before amortization on intangible assets (EBITA) decreased by 14 percent to MSEK 41.1 (47.6). * Profit after tax decreased by 4 percent to MSEK 23.6 (24.5). * Earnings per share amounted to SEK 1.31 (1.35).
The second quarter 2008
* Net turnover increased by 5 percent during the second quarter and amounted to MSEK 148.2 (141.7). Adjusted for changes in exchange rates, growth was 16 percent. * The operating profit before amortization on intangible assets (EBITA) decreased by 6 percent to MSEK 27.6 (29.5). * Profit after tax increased by 6 percent to MSEK 16.9 (15.9). * Earnings per share amounted to SEK 0.93 (0.88).
Summary of the first half-year
* The demand for BTS services continued to be good in all markets. * The negative change in BTS' earnings was principally attributable to considerably lower sales within the APG unit which was acquired in 2006, increased investments and lower cost efficiency within BTS USA and a weakening of the USD and GBP, currencies of importance for BTS. * BTS' other operations have continued to develop positively. * The revenue and earnings trends were significantly more positive during the second quarter compared with the first quarter. * New clients secured during the first half-year included Alcoa, ConocoPhilips, Deutsche Bank and National Foods Limited, among others.
