Orio AB reports an operating result of MSEK -8 (-1) for the period January – March 2019. Net sales for the period amounted to MSEK 127 (154), a decrease by 18 percent compared to the corresponding period of the previous year.
The first quarter of 2019 was marked by the termination of the investment in spare parts for other car brands, which has led to redundancy and reorganization within the business area Parts, says Jonas Tegström, CEO of Orio AB.
Sales of Saab Original parts are declining according to expectations in all markets, but the gross margins are still at good levels, says Jonas Tegström.
In the logistics area, further new customer contracts were signed during the quarter.
Cash flow from operations for the quarter was MSEK -25 (-17) and the equity ratio per 31 March 2019 was 73 percent (75).