Brief: Elanders Expands Restructuring Program And Adjusts Historical Errors

Elanders AB

13/01/2020 07:08

Jan 13 (Reuters) - Elanders AB  ELANb.ST :
    * REG-ELANDERS EXPANDS RESTRUCTURING PROGRAM AND ADJUSTS
HISTORICAL ERRORS IN CUSTOMER PROJECTS
    * ANOTHER MSEK 120 WILL BE CHARGED TO OPERATING RESULT FOR
Q4
2019, I.E. IN TOTAL SOME MSEK 180.
    * ERRORS RELATE TO TRANSPORTATION OPERATIONS WITHIN GERMANY
SUBSIDIARY LGI, WHICH IS PART OF BUSINESS AREA SUPPLY CHAIN
SOLUTIONS.
    * SHORTCOMINGS IN TRANSPORTATION MANAGEMENT SYSTEM RESULTED
IN
ERRORS IN ONE MAJOR CUSTOMER PROJECT, DUE TO A SYSTEM ERROR AND
DEFICIENT INTERNAL CONTROL
    * ADJUSTMENT WILL NOT HAVE A NEGATIVE EFFECT ON CASH FLOW
FOR
GROUP.
    * TO EXPAND ACTION PLAN FOR COST-CUTTING AND STREAMLINING
PROGRAM
IN OUR GERMAN OPERATIONS FROM AROUND MSEK 60 TO MSEK 92
    * SAVINGS ARE EXPECTED TO INCREASE FROM AROUND MSEK 60 TO
MSEK 75,
BEGINNING IN 2020

Source text for Eikon:  ID:nGNE4dczK6 
Further company coverage:  ELANb.ST 

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