NewsDiamorph AB: Interim Report Third Quarter 2017

Third quarter

  • In our previous second quarter report we noted the results should be considered against a strong comparative in the second quarter of 2016. The third quarter results should now however be considered against a weaker comparative in the third quarter of 2016.
  • Net sales in creased by 6% to SEK 95.6 (90.0) million.
  • Adjusted to fixed exchange rates, net sales in creased by 9% .
  • Adjusted operating profit in creased by 7% to SEK 28.8 (26.9) million.
  • Adjusted profit before tax in creased by 24% to SEK 21.8 (17.6) million.
  • In September 2017, Diamorph AB (publ) redeemed all of its remaining SEK 450 million of outstanding bonds. The transaction required the payment of an early redemption premium of 3% (SEK 13.5 million) to bondholders. The bonds were redeemed using a combination of existing surplus cash accumulated within the Group as well as from proceeds drawn down through a new senior secured bank facility.
  • Operating profit (as reported under IFRS) in creased by 8% to SEK 27.8 (25.8) million.
  • Profit before tax (as reported under IFRS) decreased by 64% to SEK 7.1 (19.7) million.

First nine months

  • Net sales in creased by 1% to SEK 317.1 (313.0) million. Adjusted to fixed exchange rates, net sales in creased by 1%.
  • Adjusted operating profit increased by 3% to SEK 108.1 (104.7) million.
  • Adjusted profit before tax increased by 9% to SEK 83.5 (76.8) million.
  • In February 2017, Diamorph AB (publ) acquired the final 10% of Diamorph Bearings AB and so today controls 100% of each of its subsidiaries.
  • Operating profit (as reported under IFRS) increased by 9% to SEK 110.2 (101.2) million.
  • Profit before tax (as reported under IFRS) decreased by 29% to SEK 82.8 (116.0) million.

The full report is attached to this press release and is also available for download at www.diamorph.com .

Link to the report

For additional information, please contact:
Gordon MacLeman, CEO
Telephone: +44 161 955 2410

Mark Hutchison, CFO
Telephone: +44 161 955 2409

The information was submitted for publication on November 20, 2017, at 08:00.