Brief: BHG Group Launches Restructuring Program

BHG AB

29/09/2023 07:42

Sept 29 (Reuters) - BHG Group AB  BHGF.ST :
    * BHG GROUP CONTINUES STRUCTURAL SIMPLIFICATION 
    * BROAD RESTRUCTURING PROGRAM IN VALUE HOME SEGMENT IS
LAUNCHED
    * FINANCIAL IMPLICATION OF PROGRAM IS PROFORMA IMPROVEMENT
OF EBIT
BY SEK 91.4 MLN, REDUCED FIXED COSTS BY SEK 371.8 MLN RELATING
TO SG&A AND DEPRECATION OF LEASED ASSETS
    * CO HAS ENTERED INTO AGREEMENT TO TRANSFER AH-TRADING GMBH
TO
CURRENT MINORITY OWNER AND FOUNDER FOR EUR 1
    * CO HAS ENTERED INTO AGREEMENT TO TRANSFER DANISH OPERATION
MY
HOME MØBLER (22 STORES) TO FOUNDER FOR DKK 1, SUBSTANTIALLY
REDUCING ITS PHYSICAL STORE FOOTPRINT IN DENMARK
    * IN SWEDEN 15 PHYSICAL STORES WILL BE CLOSED (WITHIN THE
BRANDS
TRADEMAX AND CHILLI). IN NORWAY 7 STORES (TRADEMAX) AND IN
FINLAND ONE STORE (KODIN1) WILL BE CLOSED
    * SUBSTANTIAL PART OF RESTRUCTURING IS ACHIEVED BY
DIVESTMENTS OF
AH-TRADING AND MY HOME, AND OTHER PARTS ARE EXPECTED TO BE
COMPLETED BY MIDYEAR 2024

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nNDLbLQDYC
 Further company coverage:  BHGF.ST  

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