Year-end Report January - December 2020
Strong equipment sales and cash flow
FOURTH QUARTER 2020
- Revenue increased by 23% to SEK 1,185m (SEK 960m)
- Operating profit decreased by 31% to SEK 65m (SEK 95m)
- Operating margin decreased to 5.5% (9.9%)
- The result for the period decreased by 23% to SEK 44m (SEK 57m)
- Earnings per ordinary share amounted to SEK 3.05 (SEK 3.95)
- Cash flows from operating activities amounted to SEK 179m (SEK 3m)
- Revenue increased by 24% to SEK 4,635m (SEK 3,747m)
- Operating profit decreased by 8% to SEK 328m (SEK 358m)
- Operating margin decreased to 7.1% (9.5%)
- The result for the period decreased by 12% to SEK 222m (SEK 251m)
- Earnings per ordinary share amounted to SEK 15.25 (SEK 17.26)
- Cash flows from operating activities amounted to SEK 693m (SEK -330m)
- Board updates financial objectives and proposes SEK 7.5 per share dividend
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Interim report 1 January – 30 September 2023
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Ferronordic expands to the USA – acquires one of the country’s largest Volvo Construction Equipment dealers
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.