Brief: Nobia Mulls Reduction Of 500 Positions

Nobia AB

20/01/2023 13:03

Jan 20 (Reuters) - Nobia AB  NOBI.ST :
    * COST REDUCTION PROGRAMME INCLUDING RESTRUCTURING IN THE UK
AND
UPDATE ON FOURTH QUARTER FINANCIAL PERFORMANCE
    * TO DRIVE EFFICIENCIES AND MARGIN IMPROVEMENT, NOBIA HAS IN
ADDITION TO EXISTING STRATEGIC AND COST INITIATIVES, DECIDED ON
A COST REDUCTION
    * PROGRAM INCLUDING A REPOSITIONING OF PART OF UK BUSINESS
    * NOBIA - PROGRAMME AIMS TO GENERATE ANNUAL SAVINGS IN
EXCESS OF
SEK 300M, WITH A NOTICEABLE IMPACT IN Q2 OF 2023 AND REACHING
FULL EFFECT IN Q2 OF 2024
    * POTENTIAL REDUNDANCY OF 500 EMPLOYEES
    * ORGANIC GROWTH FOR GROUP IN Q4 OF 2022 WAS LOW SINGLE
DIGIT,
WITH SUPPORT FROM PRICE INCREASES
    * PRELIMINARY OPERATING PROFIT FOR Q4, EXCLUDING ITEMS
AFFECTING
COMPARABILITY, DECLINED TO SEK 25M (238)
    * COSTS OF SEK 156M WILL BE REPORTED IN Q4 OF 2022 AND COSTS
OF
APPROXIMATELY SEK 300M IN Q1 OF 2023

Source text for Eikon:  ID:nWkr1b31Jh 
Further company coverage:  NOBI.ST 
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