Brief: Bonava Intends To Implement Restructuring Measures In Germany

Bonava AB (publ)

29/09/2023 09:35

Sept 29 (Reuters) - Bonava AB (publ)  BONAVb.ST :
    * BONAVA TO CARRY OUT MEASURES TO STRENGTHEN COMPETITIVENESS
    * INTENDS TO IMPLEMENT RESTRUCTURING MEASURES IN GERMANY,
AND
CONTINUE ADAPTATIONS IN SWEDEN AND FINLAND
    * ESTIMATED THAT THIS WILL AFFECT 400 POSITIONS
    * MEASURES ARE EXPECTED TO YIELD ANNUAL SAVINGS OF SEK 400 M
FROM
1 JANUARY 2025
    * RESTRUCTURING COST OF SEK 350 M WILL BE RECOGNISED IN Q3
OF 2023
    * SITUATION IN MARKET FOR NEWBUILT HOUSING REMAINS
CHALLENGING
    * SALES HAVE STABILISED BUT AT LOW LEVELS
    * PROVISION FOR NON-RECURRING COSTS OF SEK 350 M WILL BE
RECOGNISED IN Q3 OF 2023
    * DECISIONS CONCERNING STAFF REDUCTIONS WILL BE MADE ONLY
AFTER
NEGOTIATIONS WITH TRADE UNIONS ARE CONCLUDED

Source text for Eikon:  ID:nWkr8BhJxK 
Further company coverage:  BONAVb.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com;))