Orio’s net sales for the fourth quarter of 2017 decreased by 10 percent compared to the corresponding quarter of the previous year and amounted to MSEK 168 (187).
Operating result for the quarter was MSEK -28 (-31), which includes items affecting comparability of MSEK -23 (-36).
-Net sales for the period January – December 2017 amounted to MSEK 755 (814), which is a decrease by 7 percent compared to the corresponding period of the previous year. Operating result for the period was MSEK -24 (-1). Operating result includes items affecting comparability in the amount of MSEK -39 (-36).
-Continued efforts have been made on Orio Parts but sales have not developed at the pace we expected. As a result, we have adjusted our cost base during the quarter, and at the same time taken a major step developmentally and structurally.
The restructuring means that we strengthen the company by dividing the business into two more separate business divisions: spare parts and logistics. The restructuring has affected approx. 30 people in Sweden, and another ten employees in our subsidiaries, says Jonas Tegström, CEO of Orio AB.
During the quarter, cash flow from operating activities was MSEK 15 (17) and equity ratio at 31 December 2017 was 74 percent (79).