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Ha HALDEX INTERIM REPORT JANUARY - MARCH 2021 Q1.2021 Sharp increase in profitability in the first quarter FIRST QUARTER 2021 • Sales fell by 8 percent to SEK 1,080m ( 1,180 ) . The organic growth increased by 1 percent . • Gross margin improved by 4.6 percentage points to 31.1 percent ( 26.5 ) . • Adjusted operating profit increased to SEK 115m ( 43 ) , equivalent to an adjusted operating margin of 10.6 percent ( 3.6 ) . • Adjusted operating margin , excluding investments in new technology , was 11.5 percent ( 4.4 ) . • . Reported operating income totaled SEK 142m ( 30 ) . Non- recurring effects of net SEK + 27m , including a profit of SEK 43m on the sale of the property in Kansas City in the United States , had an impact on profit . Changes in exchange rates had a negative impact on operating income of SEK -17m ( +13 ) . • Profit after tax was SEK 95m ( 3 ) . Tax totaled SEK -32m ( -1 ) . flow • Cash SEK - 30m ( -43 ) . from operating activities totaled • The savings programs developed according to plan and reduced expenses by SEK 88m , whereof the structural savings amounted to SEK 57m . • The Board of Directors has appointed Jean - Luc Desire as the new CEO . The new CEO will take up his duties by July 1 , 2021 , at the latest . • The supply chain is strained due to increased raw material costs and component shortages . EVENTS AFTER THE QUARTER • The Board of Directors has decided to update the financial targets and dividend policy . • A joint venture has been formed with FAST Group to produce and sell Air Disc Brakes and aftermarket service with initial focus on the Chinese market . • Earnings per share were SEK 1.94 ( 0.04 ) . First quarter Rolling 12 m Full year Group overview , SEKm Net sales , SEKM Organic growth Operating income , SEKm Jan - Mar 2021 Jan - Mar 2020 ^ Apr 2020 - Mar 2021 2020 1,080 1,180 -8 % 3,907 4,007 1 % -14 % -20 % 142 30 380 % 12 -100 Adjusted operating profit , SEKm 115 43 170 % 235 163 Operating margin , % 13.1 2.5 10.6 0.3 -2.5 Adjusted operating margin , % 10.6 3.6 7.0 6.0 4.1 Adjusted operating margin excl . investment in new technology , % 11.5 4.4 7.1 6.9 5.0 Return on capital employed , % 1 0.0 1.2 -1.2 0.0 -3.8 Return on capital employed excluding non - recurring items , % 1 7.7 8.6 -0.9 7.7 5.0 Profit after tax , SEKm 95 3 na -208 -300 Earnings per share , SEK 1.94 0.04 na -4.37 -6.44 Cash flow , operating activities , SEKM -30 -43 13 228 215 1 Rolling twelve months . The effect of IFRS16 Leases has been excluded . Haldex AB ( publ ) | Interim report January - March 2021 1