Stockholm, 10 August 2018
OUR STRONGEST QUARTER SO FAR
SEK M 2018 2017 2018 2017
Q2 Q2 6M 6M
Revenue 817 785 1 431 1 335
EBITDA 77 67 126 112
Operating profit 68 62 109 100
Result for the period 54 51 85 80
Net Debt/(Cash) (204) (293) (204) (293)
Lars Corneliusson, CEO Ferronordic, comments: "The second quarter was the strongest quarter so far in Ferronordic's history, with revenue of SEK 817m and operating profit of SEK 68m. This was partly a result of improved gross margin, much thanks to our business in contracting services, and partly our work to improve efficiency that continues to bear fruit. We also continue to expand the organization and develop our network. During the quarter, for example, we opened a new service station for trucks and construction machines in Rostov-on-Don, employing about 30 new employees, mainly mechanics. In view of the recent recovery of Russia's economy, we are still optimistic about the development of the underlying market, especially in the light of the so-called May decrees which indicate significantly increased infrastructure investments in the coming years."
Ferronordic is the authorized dealer of Volvo Construction Equipment, Terex Trucks, Dressta, Mecalac and Rottne in Russia. In certain parts of the country, Ferronordic has also been appointed aftermarket dealer for Volvo and Renault Trucks and dealer for Volvo Penta. The company began its operations in 2010 and has expanded rapidly across Russia. The company is well established in all federal districts with 77 outlets and more than 850 employees. Ferronordic's vision is to be regarded as the leading service and sales company in the CIS markets. The ordinary shares in Ferronordic are listed on Nasdaq Stockholm.
Financial Calendar 2018
Interim report January-June 2018 10 August 2018
Interim report January-September 2018 9 November 2018
Year-end report January-December 2018 15 February 2019
For more information, please contact:
Anders Blomqvist, CFO and Head of IR, Tel: +46 8 5090 7280 or e-mail email@example.com
This information is information that Ferronordic Machines AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act (2007:528). The information was submitted for publication on 10 August 2018, 07:30 CET.
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