Brief: Ferronordic To Purchase Two Additional Sites In Germany

Ferronordic AB

07/10/2019 11:05

Oct 7 (Reuters) - Ferronordic AB  FNMA.ST :
    * FERRONORDIC INTENDS TO PURCHASE TWO ADDITIONAL SITES IN
GERMANY
    * AS PART OF ITS PLANNED EXPANSION INTO GERMANY, FERRONORDIC
INTENDS TO PURCHASE TWO ADDITIONAL SITES IN MAGDEBURG AND DESSAU
    * PURCHASE PRICE IS EXPECTED TO BE APPROX. SEK 36M
    * IN 2020, FERRONORDIC EXPECTS ACQUIRED SITES TO GENERATE A
REVENUE OF APPROX. SEK 265M WITH AN OPERATING MARGIN OF 3-4%
    * SITES ARE OPERATED BY AUTO-HAAS GMBH
    * FERRONORDIC WOULD ACQUIRE AUTO-HAAS WITH EXISTING ASSETS
AND
LIABILITIES, INCLUDING TRUCKS FOR RENTAL AND RELATED DEBT
    * FERRONORDIC ESTIMATES THAT TWO SITES IN 2016-2018
GENERATED AN
ANNUAL AVERAGE REVENUE OF APPROX. SEK 265M WITH AN OPERATING
MARGIN OF APPROX. 3%
    * IN 2020, FERRONORDIC EXPECTS BUSINESS TO REMAIN LARGELY
UNCHANGED
    * TRANSACTION IS THUS EXPECTED TO HAVE A POSITIVE IMPACT ON
CO'S
REVENUE IN 2020 OF APPROX. SEK 265M WITH AN OPERATING MARGIN OF
3-4%
    * OPERATING CASH FLOWS ARE EXPECTED TO BE POSITIVE FROM
START
    * AMBITION IS FOR TRANSACTION TO CLOSE BY END OF 2019

Source text for Eikon:  ID:nWkr1T51FP 
Further company coverage:  FNMA.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))