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  • Ferronordic AB
    Nybrogatan 6 114 34 Stockholm
    +46 8 50907280
    http://ferronordic.com
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    Interim report 1 January – 30 September 2021

    Best quarter to dateTHIRD QUARTER 2021 · Revenue increased by 47% to SEK 1,661m (1,129) · Operating profit increased by 37% to SEK 147m (107) · Operating margin decreased to 8.9% (9.5) · The result for the period increased by 34% to SEK 109m (81) · Basic earnings per share amounted to SEK 7.48 (5.57) · Cash flows from operating activities amounted to SEK 327m (100) JANUARY- SEPTEMBER 2021 · Revenue increased by 31% to SEK 4,517m (3,450) · Operating profit increased by 41% to SEK 371m (263) · Operating margin increased to 8.2% (7.6) · The result for the

    Interim Report January - June 2021

    Record operating resultSECOND QUARTER 2021 · Revenue increased by 32% to SEK 1,590m (SEK 1,203m) · Operating profit increased by 37% to SEK 144m (SEK 105m) · Operating margin increased to 9.0% (8.7%) · The result for the period increased by 13% to SEK 86m (SEK 76m) · Basic earnings per share amounted to SEK 5.94 (SEK 5.24) · Cash flows from operating activities amounted to SEK 120m (SEK 312m) JANUARY- JUNE 2021 · Revenue increased by 23% to SEK 2,856m (SEK 2,321m) · Operating profit increased by 44% to SEK 224m (SEK 156m) · Operating margin increased to 7.8%

    Invitation to Ferronordic’s investor presentation 12 August 2021

    Ferronordic’s interim report for the second quarter of 2021 will be published on 12 August 2021 at 07:30 CET. A presentation of the report will be held the same day at 10:00 CET.Ferronordic’s interim report for the second quarter 2021 will be published on 12 August 2021 at 07.30 CET and will be accessible at www.ferronordic.com. Ferronordic invites investors, analysts and the media to a presentation where Lars Corneliusson, CEO, and Erik Danemar, CFO, comment on the report. The presentation will be held on 12 August 2021 at 10:00 CET and can be followed via telephone conference or audiocast.

    Bulletin from Ferronordic’s annual general meeting (AGM) 2021

    At Ferronordic’s AGM on 12 May 2021, held without physical presence pursuant to the Act on temporary exceptions to facilitate the execution of general meetings in companies and other associations (SFS 2020:198), the shareholders resolved as follows: · It was resolved to pay dividends of SEK 7.50 per share. The record day for receiving the dividend is 17 May 2021. Payment should be made around 20 May 2021. · The company’s and the group’s income statements and balance sheets were adopted. The Board members and CEO were discharged from liability for the financial year 2020. ·

    Notice of annual general meeting in Ferronordic AB (publ)

    The shareholders of Ferronordic AB (publ) (the “Company”) are invited to attend the annual general meeting to be held on 12 May 2021. Due to the extraordinary situation resulting from the COVID-19 pandemic, the Meeting will be held without physical presence pursuant to the Act on temporary exceptions to facilitate the execution of general meetings in companies and other associations (SFS 2020:198). Since there will not be any meeting with the opportunity to vote physically or to ask questions to the Company’s representatives, Ferronordic AB encourages shareholders to participate at the

    Ferronordic publishes annual report for 2020

    Ferronordic’s annual report for 2020 has been published and is available on the Company’s website at www.ferronordic.com. ------------------------------------------------------- About Ferronordic           Ferronordic is a service and sales company in the areas of construction equipment and trucks. It is the dealer of Volvo Construction Equipment and certain other brands in all of Russia and Kazakhstan, aftermarket partner of Volvo Trucks and Renault Trucks in part of Russia, and dealer of Volvo Trucks and Renault Trucks in part of Germany. The company also offers contracting

    Ferronordic grows network in Germany with the addition of workshop in Limburg

    Ferronordic has signed an agreement to acquire Thomas Nutzfarzeuge GmbH and the related real estate (“Thomas”). Thomas is an authorised Volvo and Renault Trucks workshop in Limburg, Hessen. The acquisition is in line with Ferronordic’s strategy to expand and improve its service network in Germany. In 2019 and 2020, Thomas had an average annual revenue of EUR 4.8m (SEK* 49m) with an average operating profit of approx. EUR 0.8m (SEK* 8m).Thomas Nutzfahrzeuge GmbH is operating a workshop for service and maintenance of trucks and buses in Limburg an der Lahn, located on the A3 motorway between

    Ferronordic becomes distributor for Sandvik mobile crushers and screens in Russia

    Ferronordic has entered into an agreement to become the distributor of Sandvik mobile crushing and screening equipment in all of Russia. Under the agreement, Ferronordic is responsible for sales, service and repair of Sandvik mobile crushing and screening equipment throughout the country. Over time, Ferronordic expects that sales related to the new products may represent up to 5% of its revenue in Russia.Sandvik Mobile Crushing and Screening, a division within Sandvik’s newly formed business area Rock Processing Solutions, has appointed Ferronordic its distributor throughout Russia for

    Year-end Report January - December 2020

    Strong equipment sales and cash flowFOURTH QUARTER 2020 · Revenue increased by 23% to SEK 1,185m (SEK 960m) · Operating profit decreased by 31% to SEK 65m (SEK 95m) · Operating margin decreased to 5.5% (9.9%) · The result for the period decreased by 23% to SEK 44m (SEK 57m) · Earnings per ordinary share amounted to SEK 3.05 (SEK 3.95) · Cash flows from operating activities amounted to SEK 179m (SEK 3m) JANUARY-DECEMBER 2020 · Revenue increased by 24% to SEK 4,635m (SEK 3,747m) · Operating profit decreased by 8% to SEK 328m (SEK 358m) · Operating margin

    Invitation to Ferronordic’s investor presentation 19 February 2021

    Ferronordic’s year-end report for 2020 will be published on 19 February 2021 at 07:30 CET. A presentation of the report will be held the same day at 10:00 CET.Ferronordic’s year-end report for 2020 will be published on 19 February 2021 at 07.30 CET and will be accessible at www.ferronordic.com. Ferronordic invites investors, analysts and the media to a presentation where Lars Corneliusson, CEO, and Erik Danemar, CFO, comment on the report. The presentation will be held on 19 February 2021 at 10:00 CET and can be followed via telephone conference or audiocast. The presentation will be

    Ferronordic expands network in Germany with the addition of new workshop in Fulda

    Ferronordic has signed an agreement to acquire Truck Center Röhn GmbH (”TCR”), an authorized Volvo and Renault Trucks workshop in Fulda, Hessen. The acquisition is in line with  Ferronordic’s strategy to expand and improve its service network in Germany. In 2019, TCR generated a revenue of approx. EUR 3.9m (*SEK 40m) with an operating profit of approx. EUR 0.6m (*SEK 6m) and 15% operating margin.The business of TCR consists of servicing and repairing trucks and selling spare parts. TCR also operates a small truck rental business. The company currently employs 19 employees, mainly mechanics.

    Interim Report January - September 2020

    Record profit and strong cash flowTHIRD QUARTER 2020 · Revenue increased by 17% to SEK 1,129m (SEK 964m) · Operating profit decreased by 1% to SEK 107m (SEK 109m) · Operating margin decreased to 9.5% (11.3%) · The result for the period increased by 9% to SEK 81m (SEK 74m) · Earnings per ordinary share amounted to SEK 5.57 (SEK 5.09) · Cash flows from operating activities amounted to SEK 100m (SEK 95m) FIRST NINE MONTHS 2020 · Revenue increased by 24% to SEK 3,450m (SEK 2,787m) · Operating profit was largely unchanged at SEK 263m (SEK 262m) · Operating

    Bulletin from Ferronordic’s extraordinary general meeting (EGM) 2020

    At Ferronordic’s EGM on 5 November 2020, held without physical presence pursuant to the Act on temporary exceptions to facilitate the execution of general meetings in companies and other associations (SFS 2020:198), the shareholders resolved as follows: · As proposed by the Board of Directors, it was resolved to pay a dividend of SEK 4.25 per share. · It was resolved to approve the Board’s proposal for an incentive program for members of the group’s executive and extended management including to issue warrants. ------------------------------------------------------- About

    Invitation to Ferronordic’s investor presentation 12 November 2020

    Ferronordic’s interim report for the third quarter of 2020 will be published on 12 November 2020 at 07:30 CET. A presentation of the report will be held the same day at 10:00 CET.Ferronordic’s interim report for the third quarter 2020 will be published on 12 November 2020 at 07.30 CET and will be accessible at www.ferronordic.com. Ferronordic invites investors, analysts and the media to a presentation where Lars Corneliusson, CEO, and Erik Danemar, CFO, comment on the report. The presentation will be held on 12 November 2020 at 10:00 CET and can be followed via telephone conference or

    Ferronordic’s Board proposes to pay a dividend of SEK 4.25 per share

    The Board of Directors of Ferronordic have, based on a review of the financial position and outlook for the Group, decided to propose to pay a dividend of SEK 4.25 per shareAgainst the backdrop of the extraordinary uncertainty caused by the COVID-19 outbreak and with the  objective to further increase Ferronordic’s resilience and financial flexibility, the Group’s Board in May 2020 decided to withdraw its previously issued dividend proposal for 2019. Following the Group’s solid performance in Q2 2020, with strong cash flow and reduced net debt, Ferronordic’s financial position and liquidity

    Ferronordic to further expand its Contracting Services operations

    Ferronordic has signed agreements with Chernogorskaya Mining Company (“CMC”) to support the development of a new platinum group metal mine site in Russia’s Krasnoyarsk region. Ferronordic will assume the role of general contractor for the project. On current parameters and forecasts, the project will contribute approx. 5-6% of Ferronordic’s revenue in 2019 in Russia/CIS during 2021 and 2022.Ferronordic has signed agreements with CMC, a subsidiary of Russian Platinum, to develop a mine site 15 kilometres southeast of Norilsk in Russia’s Krasnoyarsk region. Ferronordic will assume the role of

    Ferronordic signs final agreements to become dealer for Volvo and Renault Trucks in Germany

    Ferronordic and Volvo Group Trucks Germany have entered into agreements to appoint Ferronordic dealer for Volvo and Renault Trucks in an area representing approx. 20% of the German market for heavy trucks. In connection herewith, Ferronordic has also completed the acquisition of eleven sites in Germany. Ferronordic will start operations in Germany in January 2020. The establishment in Germany is financed with loans from Nordea Bank.Lars Corneliusson, Ferronordic’s CEO, comments: “The expansion to Germany is moving ahead as planned. Preparations are almost ready and we look forward to

    Ferronordic intends to purchase two additional sites in Germany

    As part of its planned expansion into Germany, Ferronordic intends to purchase two additional sites in Magdeburg and Dessau. The sites are operated by Auto-Haas GmbH (“Auto-Haas”), a dealer for Volvo and Renault Trucks, as well as Volvo Cars. The purchase is expected to be made through an acquisition of Auto-Haas. The purchase price is expected to be approx. SEK 36m*. In 2020, Ferronordic expects the acquired sites to generate a revenue of approx. SEK 265m* with an operating margin of 3-4%.Lars Corneliusson, Ferronordic’s CEO, comments: “We are excited to continue the expansion in Germany,

    Ferronordic intends to expand to Germany as dealer for Volvo Trucks and Renault Trucks

    Ferronordic intends to enter into an agreement with Volvo Group Trucks Germany concerning the appointment of Ferronordic as dealer for Volvo Trucks and Renault Trucks in parts of Germany. Simultaneously, Ferronordic would acquire the operations at nine of Volvo’s sites in Germany. The purchase price is expected to be approx. SEK 250m*, financed with a loan from Nordea Bank. During 2016-2018, the relevant operations generated an annual average revenue of approx. SEK 1,3bn*, compared to Ferronordic’s revenue during the twelve months preceding 30 June 2019 of approx. SEK 3.6 bn. If the

    Invitation to Ferronordic’s investor presentation 15 August 2019

    Ferronordic’s report for Q2 2019 is published on 15 August 2019 at 07:30 CET. A presentation of the report will be held the same day at 10:00 CET.Ferronordic invites investors, analysts and the media to a presentation where Lars Corneliusson, CEO, and Erik Danemar, CFO, comments on the report. The presentation will be held on 15 August 2019 at 10:00 CET and can be followed via telephone conference or audiocast. The report is published on 15 August 2019 at 07.30 CET and will be accessible at www.ferronordic.com. The presentation will be held in English and will be followed by a questions

    Ferronordic to invest in component remanufacturing center

    Ferronordic will invest SEK 35m in a center for remanufacturing of engines and gearboxes in Ekaterinburg. The center is expected to open by end of Q1 2020.The investment relates to purchases of machinery, tools and equipment needed for the center. In addition, new engines and gearboxes will be purchased that will be sold to customers through trade-in deals to build an initial inventory of used components. The center will be used for components both from Volvo CE machines and trucks from Volvo and Renault Trucks. The investment is expected to have some negative impact on profitability and

    Invitation to Ferronordic’s investor presentation 14 May 2019

    Ferronordic’s report for Q1 2019 is published on 14 May 2019 at 07:30 CET. A presentation of the report will be held the same day at 10:00 CET.Ferronordic invites investors, analysts and the media to a presentation where Lars Corneliusson, CEO, comments on the report. The presentation will be held on 14 May 2019 at 10:00 CET and can be followed via telephone conference or audiocast. The report is published on 14 May 2019 at 07.30 CET and will be accessible at www.ferronordic.com. The presentation will be held in English and will be followed by a questions and answers session. Questions

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