finnveden bulten ab (FBAB) Snapshot

FinnvedenBulten AB's longterm strategy and improve profitability for die cast components, the Finnveden Metal Structures division intends to streamline its foundry operation by concentrating its European magnesium die casting to the factory in Poland. The factory in Sweden will be streamlined for aluminum die casting and the company's intention is to find new owners for it. The measures are expected to result in annual profit improvements of approximately SEK 20 million. The planned restructuring means that production of die cast magnesium components will be concentrated to Poland and the foundry in Sweden will be downsized and streamlined for die cast aluminum production. Implementation is scheduled for completion in 2013. In total 50 people will be affected by the restructuring. Union representatives have been informed and summoned to negotiations, which will begin as soon as possible. The restructuring is expected to entail costs of approximately SEK 40 million in 2013: SEK 30 million of these costs will affect the second quarter in the form of depreciations and restructuring reserve.

FinnvedenBulten AB (publ) announced that its shareholders at the Annual general Meeting held on April 24, 2013 decided dividend of SEK 2.00 per share. The record day was established as April 29, 2013 and the dividend is expected to be distributed by Euroclear Sweden AB on May 3, 2013. At the meeting, the shareholders also elected Hans Peter Havdal as an ordinary Board member. Since 2010, he is President and CEO of Kongsberg Automotive Holding. He has previously held executive positions in the Kongsberg group.

FinnvedenBulten AB (publ) reported consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company has posted net sales of SEK 709.4 million against SEK 807.1 million a year ago. EBITDA was SEK 38.6 million against SEK 59.0 million a year ago. EBIT was SEK 19.5 million against SEK 40.2 million a year ago. Profit attributable to parent company shareholders was SEK 5.9 million against SEK 29.9 million a year ago. EPS was SEK 0.28 against SEK 1.42 million a year ago. Cash flow from operating activities was SEK 53.8 million against SEK 50.1 million a year ago. Acquisition of intangible fixed assets was SEK 1.5 million against SEK 0.1 million a year ago. Acquisition of tangible fixed assets was SEK 28.2 million against SEK 23.4 million a year ago.