Cardo announced increased inflow of orders and invoiced sales of its business unit Pumps, where ABS is the major part.
Demand increased in Cardo Pump´s biggest segment, water and wastewater, as did demand from the process industry. In the building services segment, demand was somewhat lower than last year, mainly owing to the weak demand in Germany.
With staff reductions and the closure of some regional offices Cardo Pump, one of Europe’s leading manufacturers of pumps, mixers and aerators for water and wastewater applications, industry, and the building services sector – well-known under its brand names ABS, Pumpex and Lorentzen & Wettre – plans to adapt to the market situation.
– Inflow of orders: SEK 2,900 million (2,357)
– Invoiced sales: SEK 2,375 million (2,214)
– Operating earnings: SEK 100 million (107)
– Earnings after financial items: SEK 76 million (83)
– Earnings per share: SEK 1.63 (1.80)
The annual general meeting will be held on Monday, April 2 2001 at 5 pm at Storan, Malmö Musikteater, Östra Rönneholmsvägen 20, Malmö, Sweden.
– Invoiced sales: SEK 6,851 million (6,748)
– Operating earnings: SEK 529 million (441)
– Earnings after financial items and minority share: SEK 438 million
(367)
– Earnings per share after full tax: SEK 10.47 (8.72)
Cardo is an international engineering group with a turnover of SEK 9.5 billion in 1999. Cardo holds a strong position in the markets for doors, pumps and rail-vehicle brake systems. Cardo has subsidiaries in about 30 countries with the focal point resting in western Europe, and roughly 7,700 employees.
Cardo Pump (one part of the Cardo Group) is one of Europe’s largest manufacturers of pumps, mixers and aerators for use in water and wastewater treatment plants, the process industry and the construction sector. Cardo Pump’s products are marketed under the brand names ABS, Pumpex and Lorentzen & Wettre.
After 18 years as head of Cardo’s Pump business area, Hans Borneson has decided to leave his post. He will be assisting Cardo’s group management team on a part-time basis in, for instance, acquisition matters primarily concerning the pump operation.
