Ferronordic AB Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 16, 2023 at 01:30 am EST
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Ferronordic AB (publ) reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was SEK 643 million compared to SEK 412 million a year ago. Net loss was SEK 89 million compared to net income of SEK 366 million a year ago. Basic loss per share from continuing operations was SEK 6.16 compared to basic earnings per share from continuing operations of SEK 18.04 a year ago. Basic loss per share was SEK 6.16 compared to basic earnings per share of SEK 25.2 a year ago.
For the nine months, sales was SEK 1,948 million compared to SEK 1,268 million a year ago. Net loss was SEK 19 million compared to net income of SEK 461 million a year ago. Basic loss per share from continuing operations was SEK 1.29 compared to basic earnings per share from continuing operations of SEK 9.2 a year ago. Basic loss per share was SEK 1.29 compared to basic earnings per share of SEK 31.7 a year ago.
Ferronordic AB is a Sweden-based company engaged in sales and distribution of construction equipment. It operates as an authorized dealer of Volvo Construction Equipment, Renault trucks and Volvo CE. Additionally, it distributes Volvo and Renault Trucks, Volvo Penta, among others. Through its business segment, Equipment Distribution, the Company offers sale and rental of new and used machines and other equipment, contracting services, as well as aftermarket support (sales of parts and service). The Company distributes excavators, backhoe loaders, dump trucks, pipelayers, forestry machines, bulldozers and gensets. The Company provides its services to other companies in the Quarries and aggregates, mining, road construction, transport and logistic and general construction industries