Year-end Report 2014

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Sales trend up – New strategy launched

Fourth quarter 2014

  • Order intake unchanged at SEK 115 (114) million.
  • Net sales increased by 14% to SEK 173 (152) million.
  • NorgesGruppen has signed an agreement with Pricer´s Norwegian partner PSI Systems, which does not affect the order intake during the quarter.
  • The restructuring process effected the fourth quarter with non-recurring costs of SEK 12.1 million.
  • Non-recurring costs accounted for in the second quarter for warranty provisions and write-downs deemed sufficient.
  • Charles Jackson joined Pricer as Executive Vice President of Global Sales, Marketing and Strategy.

Full year 2014

  • Order intake increased by 3% to SEK 541 (523) million.
  • Net sales increased by 11 % to SEK 583 (525) million.
  • Major order from French Leroy Merlin of SEK 43.9 million – mostly to be delivered in 2015.
  • The previously announced restructuring process completed with non-recurring costs of SEK 16.0 million in total.
  • The Board of Directors will propose to the Annual General Meeting that no dividend will be paid for 2014.

Subsequent events

  • At the National Retail Federation’s (NRF) Annual Trade Show and Expo 2015 in New York, USA, in January 2015, Pricer presented its new in-store solutions that are based on a unique technology platform.
  • PSI Systems agreement with NorgesGruppen resulted in an order intake of over SEK 90 million for Pricer.
  • Sales office opened in Düsseldorf, Germany in February.

Fourth quarter Full year
Order intake (SEK m) 115 (114) 541 (523)
Net sales (SEK m) 173.2 (151.9) 583.0 (524.6)
Adjusted gross margin1,3) (percent) 24.6 (21.9) 24.0 (23.7)
Adjusted operating profit2) (SEK m) 7.2 (2.1) 15.9 (14.3)
Adj. operating margin2) (percent) 4.2 (1.4)  
2.7 (2.7)
Cash flow (SEK m) 56.8 (52.5)
13.6 (56.5)
Net profit (SEK m) -5.1 (-4.9) 
-55.5 (4.2)
Basic earnings per share (SEK) -0.05 (-0.04)  -0.51 (0.04)

1)      Excluding non-recurring costs of SEK 0.0 (6.5) million for Q4 2014 and SEK 37.5 (6.5) million for the full year 2014.
2)      Excluding non-recurring costs of SEK 12.1 (6.5) million for Q4 2014 and SEK 69.0 (6.5) million for the full year 2014.
3)      Amortization of capitalized development costs have been reclassified from research and development costs to the cost of goods sold. The effect of this is SEK 2.8 (2.9) million for Q4 2014 and SEK 11.2 (9.1) million for the full year 2014.