Impact of restrictive measures on Ferronordic’s operations in Russia and updated dividend recommendation
The EU, the US and other countries have implemented additional sanctions against
Russia, including further export restrictions, the expulsion of selected banks from SWIFT
and measures to prevent the Russian Central Bank from using its international reserves.
In connection with this, some of our suppliers, most significantly the Volvo Group, have
communicated that they temporarily stop the sales of machines, components and spare
parts to Russia. Against this backdrop and the uncertain outlook, the Board has changed
its dividend recommendation and instead propose that the AGM 2022 decide not to pay a
dividend.
