Brief: Goodbye Kansas Group Decides To Restructure Business Following Strategic Review

Goodbye Kansas AB

18/11/2022 06:39

Nov 18 (Reuters) - Goodbye Kansas Group AB  GBKG.ST :
    * GOODBYE KANSAS GROUP DECIDES TO RESTRUCTURE BUSINESS
FOLLOWING
STRATEGIC REVIEW
    * HAS DECIDED ON SEVERAL STRUCTURAL MEASURES IN BIZ IN ORDER
TO
CREATE PREREQUISITES FOR SUSTAINABLE, VALUE CREATING DEVELOPMENT
FOR CO
    * HAS DECIDED TO NARROW FOCUS OF BUSINESS AND FOCUS ON
STUDIO
BUSINESS
    * DECISION ALSO INCLUDES NEW FINANCIAL TARGETS OF AVERAGE
ANNUAL
SALES GROWTH OF 20% AND AN EBITDA MARGIN EXCEEDING 10% LATEST IN
2024
    * BALANCE SHEET IS STRAINED, SYNERGIES BETWEEN STUDIO
BUSINESS,
OTHER BUSINESS ARE DEEMED LIMITED
    * BOARD AND MANAGEMENT HAVE THEREFOR DONE STRATEGIC REVIEW
OF
COMPANY'S FOCUS
    * IN PARALLEL, NEW COST OPTIMIZATION PROGRAM HAS BEEN
INITIATED
THAT HAS POTENTIAL TO LOWER OPERATIONAL COSTS BY SEK 15-20
MILLION ANNUALLY
    * FOCUS FOR COST OPTIMIZATION PROGRAM IS OPTIMIZATION OF
OFFICE
SPACE, REDUCED USE OF CONSULTANTS AND MORE EFFICIENT USE OF
FREELANCE SERVICES

Source text for Eikon:  ID:nMFNbwD7DL 
Further company coverage:  GBKG.ST 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))