SEMCON: Annual report 2013

GÖTEBORG, Sweden--()--Regulatory News:

SEMCON (STO:SEMC):

2013: The year in brief

2013 was characterized by relatively weak demand. The company also reported delays in a major project and writedowns in another project, negatively affecting profitability.

A market-oriented organization for engineering services was introduced on 1 January 2014 to further focus on growth and boost cooperation. Restructuring costs as a result of this were reported in Q4, amounting to SEK 10 million. The reorganization is expected to generate annual savings of SEK 6 million. Cash flow has been strong and the financial position good. The Board proposes to raise the share dividend to SEK 2.50 per share.

Customers still have considerable development needs and demand is expected to gradually improve. Semcon has a positive outlook for growth in 2014.

Over the year:

· The Automotive R&D business area signed an agreement with a global German automotive manufacturer, which will employ around 130 people, of which 30 in Germany and 100 in Sweden, over a two-year period

· The Informatic business area signed two long-term partnership agreements for managed services with companies in the Swedish engineering industry

· Olof Christensson took over as Design & Development’s new business area manager in mid-September 2013

· The offer towards the energy and mining sectors was strengthened by establishing a new office in Luleå

The Annual Report 2013, http://mb.cision.com/Main/1934/9585773/245166.pdf

Semcon is a global company active in the areas of engineering services and product information. The Group has around 3,000 employees with extensive experience from many different industries. Semcon develops products, plants and information solutions along the entire development chain and also provides many other products and services including quality control, training and methodology development. Semcon increases customers’ sales and competitive strength by providing them with innovative and solid engineering solutions. From 2014 the business will be run in four business areas: Engineering Services Nordic, Engineering Services Germany, Engineering Services International and Product Information. The Group had sales of SEK 2.5 billion with activities at more than 45 sites in Sweden, Germany, the UK, Brazil, China, Hungary, India, Spain and Russia.

This information was brought to you by Cision http://news.cision.com

Contacts

SEMCON
Markus Granlund, President and CEO
Email: markus.granlund@semcon.com
or
Björn Strömberg, CFO
Email: bjorn.stromberg@semcon.com
or
Anders Atterling, Communications Manager
Email: anders.atterling@semcon.com
or
Switchboard: +46 (0)31-721 00 00

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Contacts

SEMCON
Markus Granlund, President and CEO
Email: markus.granlund@semcon.com
or
Björn Strömberg, CFO
Email: bjorn.stromberg@semcon.com
or
Anders Atterling, Communications Manager
Email: anders.atterling@semcon.com
or
Switchboard: +46 (0)31-721 00 00