Nilörn Group AB’s operating result for the first quarter 2021 is estimated to be better than expected

2021-04-15 08:00

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Pressrelease

Nilörngruppen AB’s operating profit for the first quarter 2021 is assessed to exceed the company’s profitability target due to sales being better than expected. The Group’s sales are estimated at SEK 175 million (155), an increase of 13 percent and in local currencies by 25 percent.

Operating result is expected to SEK 27 (9) million. The previous year was charged with termination costs of SEK 2.8 million attributable to the former CEO. The COVID-19 pandemic will continue to affect demand for the company’s products, but it is very difficult to estimate how long and to what extent it is happening. In 2020, we received government contributions while limiting costs through lower activity. This year it will need to be compensated for by increased volumes.

All figures in this press release are preliminary and the final report for the first quarter 2021 will be published on April 29, 2021 at 08:00 a.m. CET. Nilörn Group will not make any further comment about the financial developments until after the interim report for the first quarter has been published.

For further information, please contact:
Krister Magnusson, President and CEO
tel: 0704-852 114, e-mail: krister.magnusson@nilorn.com

This information is information that Nilörngruppen AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above contact persons, on April 15, 2021 at 08:00 a.m. CET.

General about Nilörn Group
Nilörn Group is a global company, founded in the 1970s, with expertise in how to add value to brands through branding and design in the form of labels, packaging and accessories, primarily to customers in the fashion and clothing industry. Nilörn Group offers complete, creative and tailor-made concepts in branding, design, product development and logistical solutions. The Group operates through its own companies in Sweden, Denmark, the UK, Germany, Belgium, Portugal, Hong Kong, India, Turkey, China, Bangladesh, Italy and Pakistan. Partner companies are located in Tunisia, the United States and Switzerland. See also: www.nilorn.se