Orio implementing newly developed web sales tools which have been tested by a group of workshops with positive response.
Orio AB today announced operating results for the fourth quarter of 2014:
In the fourth quarter of 2014, net sales amounted to MSEK 223 (254), a decrease of
12 percent compared with the corresponding quarter in the previous year.
Net sales for the full year 2014 were MSEK 994 (1044), a decrease of 5 percent compared with previous year.
The operating result for the quarter was MSEK -25 (-13) influenced by a provision for restructuring costs in Sweden of MSEK 38 (23). Adjusted for these restructuring costs, the operating result amounted to MSEK 13 (10).
The fourth quarter saw an increased focus on the ongoing restructuring activities. An important part of this involved adapting the organisation and the cost structure to new conditions, which led to the results being influenced by a provision for one-off costs of MSEK 38 relating to the redundancies announced on 28 November 2014.
The ongoing work on developing new web-based sales tools and product offering has taken longer than expected. In combination with tough competition, this has significantly influenced the rate of growth in our main markets. During the quarter, net sales decreased by 12 percent compared with the corresponding quarter in the previous year, while for the full year they decreased by 5 percent compared with the previous year.
“We are now gradually implementing newly developed sales tools which have been tested by a group of workshops with positive response. In order to make sales of our expanded product portfolio to a wider customer base more effective, we will be implementing a number of IT based tools. We are also working towards making our distribution processes more efficient in terms of costs and volumes,” says Jonas Tegström, CEO of Orio AB.
The goal of the restructuring activities is to create a more efficient operating platform which will strengthen the company’s long-term competitiveness.