As a result of the evolving situation with Covid-19 and the consequent impact on our customers, ITAB has decided to provide preliminary EBITDA guidance for the financial year ending
ITAB currently expects EBITDA for the financial year ending
Furthermore, ITAB's Board of Directors has decided to raise new capital in order to strengthen the company's balance sheet and provide additional financing flexibility, as well as to invest in the One ITAB transformation plan. Following the capital raise, the Board of Directors believes that ITAB will be better balanced in its financing between equity and debt elements. The funds from a capital raise will be used to both reduce current bank debt and fund the One ITAB transformation plan in order to enable ITAB to achieve its objective of becoming the leading retail solution provider, as described in the One ITAB strategy.
"We are happy to share this news since our refinancing is a key component in our transformation towards a strengthened market position and a more capital efficient operating model. Our ambition is that the One ITAB transformation plan will be fully implemented by mid 2022 with an incremental annualized improvement in EBITDA post implementation of approximately 270 to 330 MSEK, and with an associated capital release of 400 to 500 MSEK in the same period", says Andréas Elgaard, CEO & President of
ITAB will provide further information in relation to the capital raise once available and report on any changes to the EBITDA guidance as deemed necessary.
This information is such information that
For further information, please contact:
ITAB Shop Concept AB
CEO Andréas Elgaard
Telephone: +46 36 31 73 00
Mobile: +46 73 232 16 35
Box 9054, SE-550 09 JÖNKÖPING
Telephone: +46 36 31 73 00
itab.com, itabgroup.com
AT ITAB we help customers turn consumer brand experience into physical reality with our know-how, solutions, and ecosystem of partners. We co-create with our customers, efficient retail solutions that deliver convenient and inspiring consumer experiences. The offer includes consultative design services, custom-made interiors, checkout systems, consumer guidance solutions, professional lighting systems and interactive digital solutions for the physical store. ITAB has approximately 3,200 employees and net sales in 2019 amounted to MSEK 6,064. The company's B share is listed on Nasdaq Stockholm.
https://news.cision.com/itab-shop-concept/r/itab-publishes-ebitda-guidance-for-the-financial-year-2020-and-its-mid-term-profitability-ambition-a,c3152261
https://mb.cision.com/Main/862/3152261/1277696.pdf
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