Cost reduction programme including restructuring in the UK and update on fourth quarter financial performance
In order to drive efficiencies and margin improvement, Nobia has in addition to existing strategic and cost initiatives, decided on a cost reduction program including a repositioning of part of the UK business. The programme aims to generate annual savings in excess of SEK 300m, with a noticeable impact in the second quarter of 2023 and reaching full effect in the second quarter of 2024. The programme involves the potential redundancy of 500 employees.Organic growth for the Group in the fourth quarter of 2022 was low single digit, with support from price increases. The Group’s preliminary