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    FNM   SE0005468717

FERRONORDIC AB (PUBL)

(FNM)
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Delayed Nasdaq Stockholm  -  11:29 2022-08-12 am EDT
33.00 SEK   +3.13%
08/03Invitation to Ferronordic's investor presentation 17 August 2022
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05/20Changes in Ferronordic's Management
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05/20Ferronordic AB Announces Resignation of Ceren Wende as Director of Marketing and Communication and Member of Executive Management
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Ferronordic opens new workshop in Bad Hersfeld

04/20/2022 | 09:17am EDT

Ferronordic has begun operations at a new workshop in Bad Hersfeld, Germany, filling an important gap in its growing network. Ferronordic will invest approximately SEK 3m in 2022 to upgrade the facility.

Ferronordic has opened a new workshop near Bad Hersfeld in Hessen, Germany. The facility is rented and consists of 5,800 m2 of workshop, warehouse and office space. Investments to ensure that the facility meets both Ferronordic standards and those of Volvo and Renault Trucks will amount to approx. SEK 3m. Once fully established, the facility will accommodate 10-12 employees, including sales personnel.

 

Bad Hersfeld is strategically located in central Germany, between the A5, A4 and A7 highways that connect the country from north to south and east to west. It is also home to a growing number of logistics companies. The Hersfeld district has a population of approx. 120.000 people.

 

Ferronordic CEO Lars Corneliusson comments, "With the opening of Bad Hersfeld we are filling an important gap in our growing network in Germany. A dense and strategically located network of workshops is key to ensuring customer satisfaction and growing the market shares of Volvo and Renault Trucks in Germany. With the addition of Bad Hersfeld we are strengthening our service capabilities and taking further steps to become the leading service and sales company in Germany."

 

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About Ferronordic

Ferronordic is a service and sales company in the areas of construction equipment and trucks. It is the dealer of Volvo Construction Equipment, Sandvik Rock Processing Solutions and certain other brands in all of Russia and Kazakhstan, aftermarket partner of Volvo Trucks and Renault Trucks in part of Russia, and dealer of Volvo Trucks and Renault Trucks in part of Germany. The company also offers contracting services where it owns and operates equipment to carry out works for customers. Ferronordic began its operations in 2010 and now has approx. 100 outlets and approx. 1,800 employees. Ferronordic's vision is to be regarded as the leading service and sales company in its markets. The shares in Ferronordic AB (publ) are listed on Nasdaq Stockholm. http://www.ferronordic.com/

 

 

 

 

For investors and analysts:

Erik Danemar, CFO and Head of Investor Relations

+46 73 660 72 31

ir@ferronordic.com

For media and journalists:

Ceren Wende, Head of Marketing and Communications

+46 73 658 59 80

ceren.wende@ferronordic.com

https://news.cision.com/ferronordic-ab/r/ferronordic-opens-new-workshop-in-bad-hersfeld,c3549383

https://mb.cision.com/Main/1463/3549383/1566386.pdf

(c) 2022 Cision. All rights reserved., source Press Releases - English

All news about FERRONORDIC AB (PUBL)
08/03Invitation to Ferronordic's investor presentation 17 August 2022
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05/20Changes in Ferronordic's Management
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04/20Ferronordic opens new workshop in Bad Hersfeld
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04/20Ferronordic Opens New Workshop in Bad Hersfeld
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Financials
Sales 2022 5 548 M 544 M 544 M
Net income 2022 155 M 15,2 M 15,2 M
Net Debt 2022 150 M 14,7 M 14,7 M
P/E ratio 2022 3,10x
Yield 2022 1,91%
Capitalization 480 M 47,0 M 47,0 M
EV / Sales 2022 0,11x
EV / Sales 2023 0,17x
Nbr of Employees 1 804
Free-Float 63,1%
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 33,00 SEK
Average target price 40,00 SEK
Spread / Average Target 21,2%
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Managers and Directors
Lars Corneliusson President, Chief Executive Officer & Director
Erik Danemar Chief Financial Officer & Head-IR
Staffan Jufors Chairman
Erik Eberhardson Independent Director
Annette Brodin Rampe Independent Director
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