Elanders implements structural measures regarding non-profitable parts of the road transportation operations in Germany, which entails one-off costs of approximately SEK 50 million

12/16/2022 2:01:20 pm

Press Release from Elanders AB (publ) 2022-12-16

As part of further improving profitability in the Group, Elanders will implement structural measures during the fourth quarter. Parts of the road transportation operations in Germany will be discontinued and this concerns Elanders’ sub-group LGI, which is part of the business area Supply Chain Solutions. The business that is being discontinued has had profitability problems for a long time. The closure means that sales will decrease by SEK 400 million on an annual basis, of which SEK 300 million already in 2023.

The structural measures entail one-off costs of approximately SEK 50 million, which will be charged to earnings in the fourth quarter. These costs relate to termination wages, provision for onerous contracts and as well as remaining rental costs for existing premises. The structural measures are expected to generate annual savings of SEK 35 million with full effect from 2023.

For further information, please contact
Magnus Nilsson, President and CEO, telephone: +46 31 750 07 50
Andréas Wikner, CFO, telephone: +46 31 750 07 50

This information is information that Elanders AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 14:00 CET on 16 December 2022.

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