on April 2, 2024, HMS and Red Lion have started the work of realizing synergies between the companies and hereby announces immediate cost synergies. Additionally, as a result of strong organic growth the last few years, and a dampened market demand experienced over the recent quarters and a slower market recovery, HMS is now initiating a cost-saving program to reduce the costs and streamline the organization to be positioned for further growth. The main initiatives of the program will be to realize early cost synergies from the acquisition of Red Lion and a restructuring of the Anybus organization, but also a fine-tuning of the European organization.

The program is expected to affect approximately 45 positions in total, of which approximately 25 positions in Sweden, and result in cost savings of about SEK 30 million in 2024, with a full year effect of about SEK 55 million. As a result of the program, HMS will commence negotiations with labor unions in Sweden. The expected cost savings will gradually materialize during the second quarter of 2024, with full impact from the start of the third quarter of 2024.

As a result of the cost-saving program, the company expects one-time restructuring costs of approximately SEK 35 million during the second quarter.