Brief: Duroc Warns Q1 Result Negatively Impacted

Duroc AB

16/09/2022 07:27

Sept 16 (Reuters) - Duroc AB  DURCb.ST :
    * SAID ON THURSDAY EXTRAORDINARY FACTORS IMPACTED
DEVELOPMENT IN
PARTS OF THE GROUP
    * THE RESULT IS CLEARLY NEGATIVELY AFFECTED IN THE SHORT
TERM,
WHILE NET DEBT IS REDUCED
    * HEAVY MANUFACTURING UNITS HAVE BEEN AFFECTED BY A
SIGNIFICANTLY
WORSE RESULT THAN EXPECTED 
    * IT IS HIGHLY UNLIKELY THAT THE GROUP WILL REACH THE SAME
RESULT
LEVEL AS IN Q1 2021/2022
    * THE QUARTER HAS BEEN AFFECTED BY A RAPID AND SHARP DROP IN
PRICES FOR INPUT GOODS, EXCEPTIONALLY STRONG INCREASES IN
ELECTRICITY AND GAS 
    * DROP IN PRICES HAS RESULTED IN SIGNIFICANT WRITE-DOWNS OF
INVENTORY
    * HOWEVER, THE GROUP'S NET DEBT HAS DECREASED CONSIDERABLY:
NET
DEBT AT THE END OF AUGUST AMOUNTED TO ABOUT SEK 210 MILLION
EXCLUDING IFRS 16 EFFECTS, COMPARED TO SEK 270 MILLION AT THE
END OF JUNE

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nWkr7G5n20
 Further company coverage:  DURCb.ST  

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