Earning trend
The financial setting that took place in the autumn 2008 has been named “The Financial Crisis”. The negative impact on Midway’s operating profit peaked during the second half of 2008 with -26 MSEK in operating loss and in the first half of 2009 with an operating loss of 19 MSEK. After that, every half year period has shown profit.
Development over time:
Operating profit
The decline was met with general cost reductions and significant staff reductions and also compensated by a quick and powerful recovery of the result for the Capital market trading.
The increase in sales during 2010 has had a powerful impact on the earnings since the fixed costs, for comparable units, only increased marginally. Technology Companies still has a way to go before it´s back on 2007’s and 2008’s level.
The operating profit for Trading Companies has been more stable – the level from 2008 is passed and there has not been a negative result for any single half year period during the period from 2008 until 2010.
Well prepared for 2011
2010 can be summarized by saying that the performance level for Technology Companies and Capital Market Trading still is lower than that it was before the financial crisis while Trading Companies has recovered faster. The fixed costs remain low and the balance sheet and the financial position remains strong.
It´s been a tough period but with a strong balance sheet, fast reactions and short ways of decisions we have taken us through the recession. We are well prepared for continued growth both economically and in terms of capacity.
Midway has very strong financial resources
Our ability to maximize the long term return through investments and acquisitions is very good.
Midway´s subsidiaries are in good condition
They are well trimmed so that they can contribute to Midway´s long-term profit generation and capital growth.
OUR ACQUISITION STRATEGY STANDS, WE WANT TO PURCHASE EVOLVABLE COMPANIES:
- Well managed - Profitable - Stable
