Press Release

Ferronordic Machines AB (publ) Interim Report January - June 2018

10 Aug 2018


  • Revenue increased by 4% (15% increase in rubles) to SEK 817m (SEK 785m)
  • Operating profit increased to SEK 68m (SEK 62m)
  • Operating margin was 8.3% (7.9%)
  • EBITDA increased to SEK 77m (SEK 67m)
  • The result for the period increased to SEK 54m (SEK 51m)
  • Earnings per ordinary share amounted to SEK 2.71 (SEK 3.61)
  • Cash flows from operating activities amounted to SEK 58m (SEK 147m)


  • Revenue increased by 7% (16% increase in rubles) to SEK 1,431m (SEK 1,335m)
  • Operating profit increased to SEK 109m (SEK 100m)
  • Operating margin was 7.6% (7.5%)
  • EBITDA amounted to SEK 126m (SEK 112m)
  • The result for the period amounted to SEK 85m (SEK 80m)
  • Earnings per ordinary share amounted to SEK 4.64 (SEK 5.21)
  • Cash flows from operating activities amounted to SEK 34m (SEK 184m)
2018 Q2
2017 Q2
2018 6M
2017 6M
2018 Q2 817
2017 Q2 785
2018 6M 1 431
2017 6M 1 335
2018 Q2 77
2017 Q2 67
2018 6M 126
2017 6M 112
Operating profit
2018 Q2 68
2017 Q2 62
2018 6M 109
2017 6M 100
Result for the period
2018 Q2 54
2017 Q2 51
2018 6M 85
2017 6M 80
Net Debt/(Cash)
2018 Q2 (204)
2017 Q2 (293)
2018 6M (204)
2017 6M (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."

About Ferronordic

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
Date 10 August 2018
Interim report January-September 2018
Date 9 November 2018
Year-end report January-December 2018
Date 15 February 2019

For more information, please contact:

Anders Blomqvist, CFO and Head of IR, Tel: +46 8 5090 7280 or e-mail

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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