Orio AB reports an operating result of MSEK -1 (1) for the period January – March 2018. Net sales for the period amounted to MSEK 154 (185), a decrease by 17 percent compared to the corresponding period of the previous year
The first quarter of 2018 has been dominated by the implementation of Orio’s new organizational structure, which means that we strengthen the company by refining and dividing the business into two more independent business divisions: spare parts and logistics. At the same time, we simplify our processes and apply a new type of workflow, more transparent with broader responsibilities and directly adapted to customers’ needs of services over the internet, says Jonas Tegström, CEO of Orio AB.
In terms of profit, we see continued decline in net sales of spare parts, especially in the UK and the US, says Jonas Tegström.
In the logistics area, Orio becomes an increasingly well-known player, and during the quarter further new customer contracts were signed.
Cash flow from operations for the quarter was MSEK -17 (-14) and the equity ratio per 31 March 2018 was 75 percent (79).