STOCKHOLM, Sweden, Feb. 13, 2002 (PRIMEZONE) -- Framfab:
-- Operating profits (EBITA) for the fourth quarter of 2001 amounted
to SEK 2.8 million. Profits before tax (EBT) for the same period
totalled SEK 5.0 million.
-- Operating profits (EBITA) improved from SEK -86.0 million in Q3
to.SEK 2.8 million in Q4 for 2001. Sales rose during the fourth
quarter by SEK 19.6 million - or 17 per cent - while costs fell by
SEK 69.2 million, or 35 per cent compared to the third quarter of
2001.
-- At December 31, 2001, cash holdings totalled SEK 114.5 million,
compared with SEK 125.9 million at 30 September 2001.
-- Framfab works with existing long-term customer relations with
major international companies. New customers such as Coca-Cola,
Philippine Airlines and Ondeo were added during the
fourth quarter
-- The Board confirms that Framfab now has completed the restruction
programme that was presented at the ordinary General Meeting
May 4, 2001. The Board believes that conditions are in place for
the company to continue to generate modest profits in the first
quarter of 2002. In addition, the Board believes that the Company
has a comfortable cash position to continue its activities. Cash
Flow for the second quarter is estimated to be positive. The
long-term target is now to pursue profitable growth to become one
of Europe's leading Internet consultancy companies.
-- Today, the Board of Framfab, appointed Anders Ekman as new CEO. He
joins the company from IBM, where he was Nordic Manager of IT and
business consulting within Financial Services. Anders Ekman will
take up his new duties no later than April 15, 2002. Last summer,
Framfab's current CEO Johan Wall informed the Board of his wish to
step down once the goal of restoring profitability in Framfab had
been achieved. Johan Wall became CEO in November of 2000 and has
worked itensively with restructuring the business and creating a
profitable company.
The full report including tables can be downloaded from the enclosed links.
The report is presented today at 13.30 CET at a press conference at IVA, Grev Turegatan 16 in Stockholm.
Framfab is a leading supplier of consultancy services and business solutions based on Internet technology. Framfab's customer base primarily consists of major international companies such as 3M, AXA, Coca-Cola, Danske Bank, Electrolux, Ericsson, Hydro Texaco, IKEA, Kellogg's, Maersk Sealand, McDonalds, NEC Packard-Bell, Nike Europe/US/Asia Pacific, Observer, Postbank, Quelle Versicherungen, SAAB, Volvo Car Corporation, Volvo Group and UBS. Framfab operates in Denmark, France, Germany, the Netherlands and Sweden. Framfab is listed on the O- list of the OM Stockholm Stock Exchange (ticker FTID). For additional information, call in at www.framfab.com.
Visit www.framfab.co, where the management's presentation of the year-end statement for January-December 2001 is published.
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The following files are available for download:
www.waymaker.net/bitonline/2002/02/13/20020213BIT00440/bit0002.doc The full year-end report www.waymaker.net/bitonline/2002/02/13/20020213BIT00440/bit0002.pdf The full year-end report