Brief: Elanders To Discontinue Parts Of Operations in Germany

Elanders AB

16/12/2022 13:28

Dec 16 (Reuters) - Elanders AB  ELANb.ST :
    * IMPLEMENTS STRUCTURAL MEASURES REGARDING NON-PROFITABLE
PARTS OF
THE ROAD TRANSPORTATION OPERATIONS IN GERMANY, WHICH ENTAILS
ONE-OFF COSTS OF APPROXIMATELY SEK 50 MILLION
    * STRUCTURAL MEASURES ENTAIL ONE-OFF COSTS OF APPROXIMATELY
SEK 50
MILLION, WHICH WILL BE CHARGED TO EARNINGS IN Q4
    * STRUCTURAL MEASURES DURING Q4. PARTS OF ROAD
TRANSPORTATION
OPERATIONS IN GERMANY WILL BE DISCONTINUED
    * THESE COSTS RELATE TO TERMINATION WAGES, PROVISION FOR
ONEROUS
CONTRACTS AND AS WELL AS REMAINING RENTAL COSTS FOR EXISTING
PREMISES
    * STRUCTURAL MEASURES ARE EXPECTED TO GENERATE ANNUAL
SAVINGS OF
SEK 35 MILLION WITH FULL EFFECT FROM 2023
    * PARTS OF ROAD TRANSPORTATION OPERATIONS IN GERMANY WILL BE
DISCONTINUED AND THIS CONCERNS ELANDERS' SUB-GROUP LGI, WHICH IS
PART OF BUSINESS AREA SUPPLY CHAIN SOLUTIONS
    * CLOSURE MEANS THAT SALES WILL DECREASE BY SEK 400 MILLION
ON AN
ANNUAL BASIS, OF WHICH SEK 300 MILLION ALREADY IN 2023

Source text for Eikon:  ID:nGNE7rXmB8 
Further company coverage:  ELANb.ST 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com;))