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Nilörngruppen AB: Interim Report Q3 2020

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Period July – SeptemberOrder bookings decreased by 17 percent to MSEK 162 (195).Revenue decreased by 14 percent to MSEK 147 (171).Revenue adjusted for currency effects amounted to MSEK 162 (171), i.e. an underlying organic decrease of 5 percent.Operating profit amounted to MSEK 20.4 (19.3).Profit for the period amounted to MSEK 14.4 (14.0).Earnings per share amounted to SEK 1.26 (1.23).Period January – SeptemberOrder bookings decreased by 17 percent to MSEK 464 (561).Revenue expressed in SEK decreased by 18 percent to MSEK 445 (545).Revenue adjusted for currency effects amounted to MSEK 456 (545), i.e. an underlying organic decrease of 16 percent.The operating profit amounted to MSEK 29.5 (54.6).Profit for the period amounted to MSEK 19.0 (40.1).Earnings per share amounted to SEK 1.66 (3.52).Net cash (debt) at the end of the period excluding IFRS 16 is MSEK 4 (-36).Significant events during the quarterRevenue was negatively affected during the quarter due to COVID-19 pandemic as big parts of Europe have been closed and the demand from our clients has decreased.Government contributions in Europe and Hong Kong for furlough amounts to MSEK 2.3.The result has been affected by write down of client-specific inventory and accounts receivables of MSEK 2.6Effects attributable to the COVID-19 pandemicThe demand for the Company’s products will be affected even during the fourth quarter.We monitor the development closely and take continuous measures to limit the adverse effects on the company, but at the same time have capacity to take advantage of the possibilities that will occur.Employees in Europe have been furloughed but the main part is now back at work.Significant events after the quarterKrister Magnusson, CFO and CEO, has been appointed to permanent CEOMaria Fogelström, Group Controller, has been appointed to CFOFOR FURTHER INFORMATION, CONTACT:
Krister Magnusson, President & CEO                
Mobile: +46-704 85 21 14
E-mail: krister.magnusson@nilorn.comThis information is information that Nilörngruppen is under obligation to publish in accordance with the EU Market Abuse Regulation and the Securities Markets Act. The information herein was provided by the contact person named below for publication at 06:00 p.m., 19 October 2020.AttachmentNilorn Interim report Q3 2020

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