- Net sales for the first quarter of the year were MSEK 266.5 (251.4), an increase of 6 per cent compared to the same period previous year.
- EBIT amounted to MSEK 31.0 (30.5).
- Cash flow after investments was MSEK 24.3 (31.9).
Comment from the CEO:
“We believe that the recession has bottomed out and net sales demonstrated positive progress in the first quarter, mainly due to the progress of the Swedish market. Operating profit continue at a sound level compared to the same period previous year. Cash flow for the first quarter last year was affected by a property sale in Malmö. Adjusted for this sale, cash flow improved somewhat in the first quarter of 2011, year on year.
In the first quarter, we launched a new model for installation with surface-mounted piping, which is a welcome addition to our environmentally friendly and flexible FM Mattsson 9000E mixer series. We have also continued to increase the company’s efficiency and productivity. This means we saw more positive results from our program of continuous improvements, through the positive efforts of Ostnor staff. Overall, this first quarter provides a good foundation for continued operations in 2011,” commented Ostnor’s CEO Håkan Olson.
For more information, please contact:
Håkan Olson, CEO
Tel: +46 (0)250 59 63 12