Orio AB, a global supplier of Original Saab Parts, reports an operating result of MSEK -1 (-88) /-112108.90 US Dollar/ for the period January – December 2016, in which impairment of goodwill and other items affecting comparability are included to the sum of MSEK -36 (-145).
Net sales for the period amounted to MSEK 814 (935) / $91.3 million, a decrease by 13 percent compared to the corresponding period of the previous year.
Net sales for the fourth quarter of 2016 amounted to MSEK 187 (219), a decrease by 15 percent compared to the corresponding quarter of the previous year. Gross result for the fourth quarter of 2016 was MSEK 76 (74), which is an increase by 3 percent compared to the corresponding quarter of last year.
“2016 has been an intensive year for Orio where we have continued to take important development steps in order to strengthen our competitiveness in the long term. We have invested further to improve our IT based sales channels, scaled up for a proper venture within third party logistics, and with the launch of Orio Parts and the continued expansion of the customer network, built the foundation for Orio to grow and be successful in the long term,” says Jonas Tegström, CEO of Orio AB.
“In parallel with strengthening the prerequisites to achieve our strategic growth objective, we have worked hard with improving the profitability in sales, which we succeeded with during 2016”, says Jonas Tegström.
Operating result for the quarter was MSEK -31 (-158), in which items affecting comparability are included to the sum of MSEK -36 (-145).
During the quarter, cash flow from operating activities was MSEK 17 (14), and MSEK 65 (58) for the full year 2016.