Brief: OmniCar To Reduce Monthly Cost Via Layoffs And Relocation

OmniCar Holding AB

17/06/2019 10:37

June 17 (Reuters) - OmniCar Holding AB  OMNIC.TE :
    * NEW STRATEGY, REVISED GUIDANCE AND COST CUTTING
    * FROM 1 JULY 2019 WE PLAN TO HAVE REDUCED OUR MONTHLY COST
TO
AROUND 800.000 - 850.000 SEK, PRIMARILY BY LAYING OFF EMPLOYEES
AND RELOCATE TO A NEW OFFICE LOCATION.
    * FORECASTED REVENUE IS EXPECTED TO BE IN RANGE OF 2,700.000
SEK
FOR Q3 2019 GROWING WITH 15% IN Q4 2019
    * WE WILL BE LIQUIDATING OMNICAR A/S AND ACTIVITIES WILL BE
CONTINUED IN OMNICAR HOLDING AB, OMNICAR AB AND A NEWLY
ESTABLISHED SUBSIDIARY IN DENMARK, OMNICAR IMPORTER APS
    * FROM 1 JULY 2019 AND ONWARDS, OMNICAR HOLDING AB IS
EXPECTED TO
BE A PROFITABLE COMPANY WITH A POSITIVE CASH FLOW
    * OUR FOCUS WILL NOW BE ON MORE LARGESCALE OPERATIONS SUCH
AS
IMPORTER AND DEALER GROUPS, STRONG WORKSHOP CHAINS AND
COMMERCIAL PARTNERING WITH FINANCIAL LEASING COMPANIES - CEO
    * WE HAVE DECIDED TO DOWNSCALE COMPANY'S COST BASE IN ORDER
TO
ENSURE THAT IT MATCHES OUR REVENUE.

Source text for Eikon:  ID:nWkr1rvrSJ 
Further company coverage:  OMNIC.TE 

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