Brief: Pierce Group Q3 Net Revenue Decreased By 1%

Pierce AB (publ)

17/11/2023 07:11

Nov 17 (Reuters) - Pierce Group AB (publ)  PIERCE.ST :
    * Q3 NET REVENUE DECREASED BY 1%, TOTALLING SEK 369 (373)
MILLION.
    * Q3 OPERATING PROFIT (EBIT) WAS SEK -47 (-15) MILLION.
    * AMBITION FOR PLANNED OPERATING MODEL IS TO GENERATE ANNUAL
PROFIT IMPROVEMENT OF APPROXIMATELY SEK 25 MILLION, WHICH WILL
AFFECT EARNINGS ALREADY FROM Q1 OF 2024
    * CORRESPONDING EFFECT ON CASH FLOW WILL BE GENERATED
GRADUALLY
DURING FIRST HALF OF 2024.
    * CHANGES PLANNED TO BE IMPLEMENTED WILL ENTAIL
NON-RECURRING
COSTS DURING THIRD AND FOURTH QUARTERS THIS YEAR
    * PLANNED ORGANIZATIONAL CHANGE IS EXPECTED TO ENTAIL A COST
OF
APPROXIMATELY SEK 15 MILLION DURING Q4

Source text for Eikon:  ID:nMFN7D4dHQ 
Further company coverage:  PIERCE.ST 

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