Press Release Ferronordic Machines Investor Presentation 22 February 2018
Ferronordic Machines year-end report January - December 2017 will be published on 22 February 2018.
An investor presentation will be held by phone on 22 February at 13:00 p.m. CET. Ferronordic Machines will be represented by CEO Lars Corneliusson and CFO Anders Blomqvist.
The presentation can be accessed on the company’s website prior to the meeting.
To join the presentation, please dial the phone number below no later than five minutes prior to the announced time.
- Sweden Toll Number: +46 8 566 426 51
- Sweden Toll-Free Number: 0200 883 685
- UK Toll Number: +44 333 300 0804
- UK Toll-Free Number: 0800 358 9473
- Russia Toll-Free Number: 8800 500 9867
- Switzerland Toll Number: +41 225 809 034
- Switzerland Toll-Free Number: 0800 005 219
- Germany Toll Number: +49 691 380 3430
- Germany Toll-Free Number: 0800 627 0729
Participant code: 81635740#
About Ferronordic Machines
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 74 outlets and more than 800 employees. Ferronordic’s vision is to be regarded as the leading service and sales company in the CIS markets. The ordinary shares in Ferronordic Machines AB (publ) are listed on Nasdaq Stockholm. The preference shares in the company are listed on Nasdaq First North Premier. The company has appointed Avanza Bank AB as its Certified Advisor.
For more information, please contact:
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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.