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1st QUARTER REPORT 2000<br />
Bildservice Bo Thell 1<br />
2000-04-13
1st QUARTER REPORT 2000<br />
Bildservice Bo Thell 2<br />
Volume and sales<br />
♦ Net sales became 26% or MSEK 143 higher than 1999.<br />
♦ Volume sales + 24%.<br />
♦ Currency + 2%.<br />
♦ Price/mix +/- 0%.<br />
♦ Press powder volumes became 22% higher than 1999.<br />
♦ Strong Chem/Met sales. Volumes increased by + 43%.<br />
♦ Welding volumes were 10% higher than 1999.<br />
2000-04-13
1st QUARTER REPORT 2000<br />
Bildservice Bo Thell 3<br />
Volume and sales<br />
♦ Other Asia starts with strong growth + 19%.<br />
♦ South Korea + 29% and Taiwan + 26%.<br />
♦ Europe came out 17 % stronger including press powder of + 15%.<br />
♦ Japan volumes were up 13% with press powder being up 17 %.<br />
♦ The new Coldstream powder application area replaces thermal<br />
coated powder. Strong start with 22% volume increase.<br />
2000-04-13
1st QUARTER REPORT 2000<br />
Cost of sales and expenses<br />
♦ Cost of sales increases due to higher raw material prices, freight<br />
and one time production costs in Sweden and Brazil.<br />
♦ Lower margin explained by the above as well as by operating<br />
expenses in US, consolidation of Brazil, stronger R & D and<br />
exchange losses.<br />
♦ Net interest expense in line with 1999. Cash flow became MSEK -66<br />
after the acquisition of First Miss Steel, ( MSEK 104 )<br />
♦ Income tax 1% lower than 1999 which included dividend<br />
withholding tax.<br />
Bildservice Bo Thell 4<br />
2000-04-13
1st QUARTER REPORT 2000<br />
Investments and balance sheet items<br />
♦ Total investments amounted to MSEK 56 (34 ) .<br />
♦ Main projects in Sweden are atomized Astaloy raw powder<br />
production in Halmstad ( Jan.2001 ) and capacity increase in<br />
powder plant.<br />
♦ Main foreign project is increased atomizing capacity of stainless<br />
powder up to 8.000 tonnes in Belgium( Nov. 2000 ). The mixing<br />
station in China will start production in April.<br />
♦ Cash flow of MSEK -66 came out in line with projection.<br />
Bildservice Bo Thell 5<br />
2000-04-13
1st QUARTER REPORT 2000<br />
Acquisitions and US operations<br />
♦ First Miss Steel consolidated as from February 16th. No P/L<br />
impact.<br />
♦ The project investment to rebuild steel mill into a “state of the<br />
art” iron powder plant for an amount of MUSD 40 million has<br />
commenced.<br />
♦ The metal powder producer Pyron Corp was acquired and its<br />
operations will be consolidated as from April.<br />
♦ Progress is US in line with plan. Current year projection of<br />
10,000 new tons remains unchanged.<br />
Bildservice Bo Thell 6<br />
2000-04-13
1st QUARTER REPORT 2000<br />
Bildservice Bo Thell 7<br />
New applications<br />
♦ Warm compacted powders continues to increase .Volumes are up<br />
30% compared with 1999.<br />
♦ Soft magnetic composites volumes increased by 34 % in the 1<br />
quarter.<br />
♦ SMC sales mainly for magnetic cores.<br />
♦ Several Somaloy projects shows good prospects but only<br />
insignificant volumes projected for this year.<br />
♦ Astaloy Chrome now included in 3 new components. Several<br />
significant prototype applications are currently being tested.<br />
2000-04-13
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