Quality. Respect. Excellence.

3rd Quarter Results 2020

Ferronordic reported its results for the third quarter on November 12 2020 which was the Group’s best net income to date despite market challengs

Strong unit sales growth despite a lower market in Russia/CIS

Organic sales growth partly undone by weaker ruble

Solid operating profit thanks to revenue mix and cost control

Unit sales in Germany flat Q-o-Q as market remained weak

Strong operating cash flows and lower net debt

EGM approves SEK 4.25 per share dividend payout

Revenue SEK 1,129m
Operating Profit SEK 107m
Operating Margin 9.5%
Operating Profit Decline 7%
Revenue Increase 17%
EPS Increase 9%

"Q3 2020 was another quarter where our organization delivered a very strong result. Despite continued uncertainty related to COVID-19, we achieved our best net profit to date” 

 - Lars Corneliusson, CEO Ferronordic

                                                     Selected key Group ratios*

SEK M Q3 2020* Q3 2019 %             9M 2020* 9M 2019 %
Revenue 1 129 964 17%             3 450 2 787 24%
Operating profit 107 109 -1%             263 262 0%
Result for the period 81 74 9%             177 193 -8%
Earnings per share 5,57 5,09 9%             12,21 13,31 -8%
           
Gross margin 19.6% 21.4%             17.7% 20.6%
Operating margin 9.5% 11.3%             7.6% 9.4%
           
Return on capital employed 25% 34%             25% 34%
Working capital / Revenue 8% 18%             8% 18%
Net debt / (cash) 83 411             83 411

* * Q3 and 9M 2020 includes consolidation of Ferronordic’s operations in Germany