Kährs BondCo AB (publ) evaluates a possible divestment of its operations in Russia

Kährs has, due to the prevailing market conditions, started a process to evaluate the possibilities and conditions for divesting its operations in Russia.

Already at the beginning of March 2022, Kährs decided to, in addition to sanctions, stop all investments as well as import and export flows from Europe to and from the company's operations and other suppliers in Russia. Kährs’ operations in Russia have continued, but at a lower level. The process of evaluating a divestment in a structured and responsible way, due to the changed market conditions, is now being initiated.

The business in Russia corresponds to approx. 6-7% of the revenue within Kährs Group and approx. 10% of the operating profit. Kährs has sales in Russia as well as a production facility for wood flooring. The operation includes a total of 300 employees in Russia. 
 

For further information, please contact:
Johan Magnusson, CEO
+46 70 540 13 96, johan.magnusson@kahrs.com

This information is information that Kährs BondCo AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on 9 August 2022.
 

Kährs BondCo AB (publ) is a leading manufacturer and distributor of flooring with the aim of providing customer experiences beyond expectations. Kährs’ innovations have shaped the industry throughout its history and the company is dedicated to offering flooring solutions for every room, environment and need. The company delivers sustainable and durable flooring solutions to more than 70 countries, being a market leader in hardwood flooring in Sweden and Finland and having strong positions in other key markets, such as Norway, the UK, US, Germany, and Switzerland. The Group has approximately 1,500 employees and annual sales of more than SEK 3.5 billion. www.kahrsgroup.com