Brief: Mekonomen Q3 Adjusted EBIT Up At SEK 231 Mln

Meko AB

08/11/2019 06:33

Nov 8 (Reuters) - Mekonomen AB  MEKO.ST :
    * THIRD QUARTER INTERIM REPORT JANUARY - SEPTEMBER 2019
    * JULY-SEPT ADJUSTED EBIT AMOUNTED TO SEK 231 M (148) AND
ADJUSTED
EBIT MARGIN WAS 8 PER CENT (8).
    * FOCUS REMAINS ON GENERATING PROFITABLE GROWTH IN ALL OF
OUR
OPERATIONS AND TO DELIVER ON COMMUNICATED STRATEGIC PROJECTS AND
INITIATIVES
    * Q3 REVENUE SEK 2.88 BILLION VERSUS SEK 1.85 BILLION YEAR
AGO
    * STRONG EUR INCREASING PURCHASING COSTS SYNERGIES FROM
ACQUISITION OF FTZ AND INTER-TEAM CONTRIBUTED TO LOWER
PURCHASING COSTS
    * ONGOING COST-SAVINGS PROGRAMME, WHICH WAS ANNOUNCED IN
FEBRUARY
2019, REMAINS ON TRACK AND HAD POSITIVE IMPACT IN Q3
    * FULL EFFECT OF SEK 65 M ON AN ANNUAL BASIS IS EXPECTED TO
BE
REACHED FROM Q4 OF 2019.
    * WILL CURRENCY-ADJUST OUR PRICES IN NORWAY, POLAND AND
SWEDEN IN
Q4 OF 2019.
    * SØRENSEN OG BALCHEN WAS NEGATIVELY AFFECTED BY CONTINUED
WEAK
CONSUMER SALES THROUGH STORES AND ORGANIC GROWTH WAS -6 PER CENT

Source text for Eikon:  ID:nWkr6j57S2 
Further company coverage:  MEKO.ST 

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