Growth for nine months was 15.6 percent - Tekla became part of Trimble Navigation Limited in July
Tekla became part of Trimble Navigation Limited ("Trimble") on July 8, 2011. Trimble currently holds 99.46% of all the shares and votes in Tekla. Trimble's intention is to acquire all the shares in Tekla, and it initiated the compulsory redemption proceedings for the remaining shares under the Finnish Companies Act. The related trustee of minority shareholders and the arbitral tribunal have been appointed. This Interim Report is prepared in accordance with IAS 34 and is not reflective of Tekla's results as reported as a part of Trimble Navigation Limited consolidated financial statements which are prepared in accordance with U.S. GAAP.
Net sales of Tekla Group for January-September 2011 totaled 47.34 (40.94) million euros, increasing by 15.6%. The operating result was 9.42 (6.89) million euros, 19.9% (16.8%) of net sales. Earnings per share were 0.30 (0.24) euros.
Net sales for the third quarter amounted to 14.88 (13.62) million euros, increasing by 9.3%. The operating result for the quarter was 3.20 (3.31) million euros, or 21.5% (24.3%) of net sales.
Ari Kohonen, President and CEO, comments on the reporting period:
- Net sales for the third quarter increased and operating result was at the same level with the previous year.
- Growth in the net sales of our main business area, Building & Construction, amounted to approximately 21% during the review period and its operating result improved clearly. During the third quarter, B&C's net sales increased by approximately 11% and operating result remained at the previous level.
- In January-September, our market areas with the most success in license sales were Western Europe, the Far East and the Nordic countries. The United States and India continued to be the largest individual markets.
- For Infra & Energy, the third quarter met expectations. Net sales increased slightly on the previous year. The order backlog remained strong.
- During the third quarter, the number of personnel increased by 20 persons. Additional recruitments in both R&D and the customer interface aim to ensure long-term growth.
The Board of Directors continues to expect net sales to increase by 15% or more, while the operating result is expected to exceed 20% of net sales.