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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Q3 2020 Ferronordic AB Earnings Call Transcript

Nov 12, 2020 / 09:00AM GMT
Release Date Price: kr164.8 (+4.57%)
Lars Corneliusson
Ferronordic AB - CEO & President

All right alone. This is James Cornelius and Adam. Welcome to through this presentation of our Q3 results. And as you can see on slide 2, we had a record result and strong cash flow. And in Russian CIS, we saw strong unit sales growth despite a lower markets. And overall, we had an organic sales growth that was partly hidden by a weaker ruble, solid operating profit due to revenue mix and continuing cost control.

In Germany, unit sales was flat compared to Q2 as the markets remained weak as I have strong cash flow, SEK 100 million lower net debt and AGM approved a dividend payout of SEK 4.25 per share sorry, numbers, 17% revenue increase 1% operating profit decline, 9.5% operating margin, but a 9% increase in EPS and our highest net profits ever in our 10 years history.

If we move to slide 3, some highlights for the group, where revenue then was up 17% to SEK1.129 billion due to headwind on the ruble, Russia decreased 7%, but then adding consolidating German operations added 24%. As you can see again in Russia Total revenue,

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