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FOURTH QUARTER 2020 • Sales fell by 13 % to SEK 989m ( 1,141 ) . In currency - adjusted terms , the decline was 6 % . • Gross margin improved by 3 percentage points to 28.6 % ( 25.6 ) . The improvement is attributed to the closure of production units as well as increased share of aftermarket sales . STRONG SEQUENTIAL RECOVERY AND IMPROVED ADJUSTED OPERATING INCOME ● ● Adjusted operating income increased to SEK 66m ( 44 ) , equivalent to an adjusted operating margin of 6.7 % ( 3.8 ) . Adjusted operating margin excluding investments in new technology was 8.0 % ( 4.9 ) . Reported operating income totaled SEK 44m ( 133 ) . Non - recurring expenses of net SEK 22m , including positive earnings of SEK 35m from the sale of the Blue Springs property , weighed upon profit . • Changes in exchange rates had a negative impact on operating income of SEK -20m ( -2 ) . • Profit after tax was SEK -61m ( -149 ) . The tax amounted to SEK 59m ( 4 ) . Earnings per share were SEK -1.27 ( -3.36 ) . • Cash flow from operating activities totaled SEK 123m ( 239 ) . • The structural savings programs developed according to plan and reduced expenses by SEK 34m . • Haldex signed an agreement with a Chinese bus manufacturer for the pre - series manufacturing of electromechanical braking system ( EMB ) . • The supply chain is strained due to increased raw material costs and component shortages . Group overview , SEKm Net sales , SEKm Organic growth Operating income , SEKM Adjusted operating income , SEKm Operating margin Adjusted operating margin , % Adjusted operating margin excl . investment in new technology Return on capital employed ¹ Return on capital employed excl . non - recurring items , ¹ ) Profit after tax , SEKm Earnings per share , SEK Cash flow , operating activities , SEKM ¹ ) Rolling twelve months , effect of IFRS16 Finance Leases has been excluded . HE Haldex AB | Year - end report January - December 2020 HALDEX YEAR - END REPORT JANUARY - DECEMBER 2020 FULL YEAR 2020 • Sales fell by 22 % to SEK 4,007m ( 5,151 ) . In currency - adjusted terms , the decline was 20 % . Q4 2020 • Adjusted operating income fell to SEK 163m ( 317 ) , equivalent to an adjusted operating margin of 4.1 % ( 6.1 ) . Adjusted operating margin excluding investments in new technology was 5.0 % ( 6.9 ) . • The structural savings programs reduced expenses by SEK 69m for the full year . • Reported operating income totaled SEK -100m ( 105 ) . Non - recurring net expenses of SEK 263m , including positive earnings of SEK 35m from the sale of the Blue Springs property , weighed upon income for the full year . • Changes in exchange rates had a negative impact on operating income of SEK -16m ( 24 ) . • The annual profit after tax was SEK -300m ( 5 ) . The tax amounted to SEK 111m ( 56 ) . Oct - Dec 2020 • Earnings per share were SEK -6.44 ( 0.12 ) . • Cash flow from operating activities totaled SEK 215m ( 328 ) . • The Board proposes that no dividend be paid . 989 -6 % 44 66 4.5 % 6.7 % 8.0 % -3.8 % 5.0 % -61 -1.27 123 Fourth quarter Oct - Dec 2019 1,141 -11 % -133 44 -11.6 % 3.8 % 4.9 % 3.1 % 9.4 % -149 -3.36 239 A -13 % -133 % 52 % 16.1 2.9 3.2 -6.9 -4.4 -59 % -59 % -116 Jan - Dec 2020 4,007 -20 % -100 163 -2.5 % 4.1 % 5.0 % -3.8 % 5.0 % -300 -6.44 215 12 months Jan - Dec 2019 5,151 -5 % 105 317 2.0 % 6.1 % 6.9 % 3.1 % 9.4 % 5 0.12 328 A -22 % -195 % -49 % -4.5 -2.0 -1.9 -6.9 -4.4 na na -113 This document is essentially a translation of Swedish language original thereof . In the event of any discrepancies between this translation and the original Swedish document , the latter shall be deemed correct . 1 ( 23 )