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
"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
| 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 |
