Ferronordic AB (OSTO:FNM)
kr 83.5 -0.5 (-0.6%) Market Cap: 1.21 Bil Enterprise Value: 2.76 Bil PE Ratio: 0 PB Ratio: 0.72 GF Score: 32/100
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Q1 2020 Ferronordic AB Earnings Call Transcript

May 13, 2020 / 05:30AM GMT
Release Date Price: kr95 (-5.00%)
Lars Corneliusson
Ferronordic AB - President & CEO

All right. Good morning, everybody, and welcome to this presentation of our first quarter results in 2020. This is Lars Corneliusson speaking. And if we move to slide 2, the quarter was characterized by growth in Russia/CIS and the start of our operations in Germany. And we saw, during the quarter, both revenue and operating profit growth in Russia/CIS. We had negative earnings impact from Germany in line with what our previous expectations were. We have strong cash flows from operating activities.

And we have disruption, unfortunately, from COVID-19, which we started noticing in March, and we expect that to increase going forward. And we are taking measures and we have taken measures to reduce our costs and strengthen liquidity.

So if we move to slide 3, financial highlights. As I said, we had revenue of SEK1,118 million, which was up 55% compared to last year. That was 17% organic growth in Russia/CIS and then 38% from the consolidation of the operations in Germany. And we saw growth in Russia and CIS from all the sectors of our

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