• Income amounted to SEK 310.2 million (304.2 m)
• The operating profit was SEK 6.6 million (16.7 m)
• Adjusted for restructuring and other one-off costs the operating profit was SEK 25.8 million (16.7 m)
• The loss for the period was SEK 1.7 million (16.1 m)
• EPS was SEK 0.01 (0.10)
• Cash flow from current business was SEK 45.2 million (125.3 m)
Period january – december 2010
• Income amounted to SEK 921.4 million (951.0 m)
• The operating loss was SEK 56.2 million (-122.3 m)
• Adjusted for restructuring and other one-off costs the operating loss was SEK 36.0 million (-100.9 m)
• The loss for the period was SEK 66.8 million (-140.6 m)
• EPS was SEK -0.44 (-1.51)
• Cash flow from current business was SEK -65.4 million (6.9 m)
• Unrealized currency hedging effects amounted to SEK -6.2 million (3.0 m)
Significant events during the reporting period
• Andreas Sbrodiglia left his post as BRIO’s President and CEO with effect from 31
• Peder Zetterberg was appointed as acting President and CEO on 1 January 2011.
• Goodwill was written down by SEK 9.3 million as an effect of a less favourable
development of the Baby division and a revaluation of goodwill.
Significant events after the reporting period
• Deputy CEO and CFO Håkan Johansson was appointed as new divisional manager for BRIO Baby after the end of the reporting period, replacing Anders Hagert who will leave the company.
• The Board proposes that no dividend be paid for 2010.
• The Board has not issued any forecasts.
CEO’s comments “The Group’s positive sales trend continued in Q4, with sales up 2% on the same period last year. The differences between the Group’s divisions are however very evident with BRIO Toy sales up by 9 per cent while BRIO Baby sales fell by 10 per cent. The positive trend at BRIO Toy is due to the positive reception of the wider range of wooden railways and Alga, which also reported positive gross margin effects. Developments in the BRIO Baby division were however less favourable. The drop in sales in Q4 compared with the same period last year is due, in part, to weak market developments, but also to problems with the range as well as a clear alignment. A major action plan has now been implemented to deal with this problem. The BRIO Lekehuset Partner franchise in Norway reported favourable growth in 2010.”
Acting President and CEO, BRIO
This information is published by BRIO AB (publ) in accordance with Swedish Law regarding the securities market and/or the law regarding trading in financial instruments. This information was submitted for publication at 8.30 a.m. on 24 February 2011.