“The market continued to improve across most of our regions in the second quarter,” said CEO Alrik Danielsson, “But the demand conditions for the remainder of 2010 remain uncertain, especially in Europe.”
The company maintains that the market is strong in Asia and South America, while a gradual recovery, albeit at an uncertain rate, is expected in North America.
Höganäs plans to make strategic investments and develop applications based on metal powder technology. In this quarter Höganäs has launched a new generation of electric motors for electric bicycles and light vehicles (see Metal Powder Report, July/August issue).
Between 1 January – 30 June 2010, compared to corresponding period of 2009, net sales were SEK 3,331 million(2,014) in the period, up 65% year on year, and sales volumes were 72% higher. Operating income was SEK 615 million (-57) and income after tax was SEK 453 million(-53). Earnings per share for the period were SEK 13.02 (-1.53).