Invitation to Ferronordic's investor presentation 22 November 2019
Ferronordic invites investors, analysts and the media to a presentation where Lars Corneliusson, CEO, and Erik Danemar, CFO, comments on the report. The presentation will be held on 22 November 2019 at 10:00 CET and can be followed via telephone conference or audiocast. The report is published on 22 November 2019 at 07.30 CET and will be accessible at www.ferronordic.com.
The presentation will be held in English and will be followed by a questions and answers session. Questions can be asked via the telephone conference or in written form via the audiocast. No preregistration is needed.
To participate via phone, please dial-in no later than five minutes prior to the announced time.
- Switzerland: +41 225 805 976
- Germany: +49 691 380 34 52
- Russia: 8 800 500 01 33
- Sweden: +46 8 505 583 54
- Uinted Kingdom: +44 333 300 90 35
- United States: +1 833 526 83 84
The presentation can also be viewed live at https://tv.streamfabriken.com/ferronordic-q3-2019
Afterwards, a recording of the presentation will be available at the same page.
Ferronordic is the authorized dealer of Volvo Construction Equipment, Dressta, Mecalac and Rottne in Russia, and for Volvo Construction Equipment and Mecalac in Kazakhstan. In parts of Russia, Ferronordic has also been appointed aftermarket dealer for Volvo and Renault Trucks and dealer for Volvo Penta. The company began its operations in 2010. It is established in all federal districts of Russia with 80 outlets and over 1,100 employees. Ferronordic’s vision is to be regarded as the leading service and sales company in the CIS markets. The shares in Ferronordic AB are listed on Nasdaq Stockholm.
For more information, please contact:
This information was submitted for publication on 8 November, 10:30 CET.
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Ferronordic has entered into an agreement to purchase Rudd Equipment Company, Inc. (“Rudd”), one of the largest dealers of Volvo CE in the United States with operations in all or parts of nine states. Ferronordic thereby takes its first step to expand into the important US market. The purchase price amounts to USD 95.0m, corresponding to 5.8 x 2022 adjusted earnings before tax. In 2022, Rudd had sales of USD 308.3m with an operating income of USD 16.5m and earnings before tax of USD 16.4m (both adjusted to IFRS). In addition, Ferronordic acquires two real properties for USD 10m, currently rented by Rudd.