The Ekornes Group's factories in Norway will close for the Christmas holidays as from 23.12.2011 and will reopen on January 2. The traditional company Christmas lunch will be held at the company's main plant in Sykkylven today, 22.12.11, at which there will also be a brief presentation of the year 2011.
The turnover for 2011 is estimated to end at approx. NOK 2.76 billion, which represents a decline of approx. 4% increase compared to 2010. The preliminary consolidation has been based on exchange rates up till end November 2011.
The estimates indicate that the employee bonus will amount to 54% of a monthly salary. This bonus level is based on the operating margin before bonuses to be in the range of 15-17.9% of the turnover.
The company's intake of orders is somewhat lower than last year. We estimate the order intake in fourth quarter to be NOK 800 mill., which is around 3% lower than last year (in fixed exchange rates). Order backlog as at the end of the year is estimated to amount to
NOK 320 million, which is approx. NOK 35 million lower than last year.
It should be noted that the final figures will depend on the consolidation rates (exchange rates), deliveries from the company's warehouses in the USA and Japan until 31.12.11, and the order intake during the last few days of the year.
Ekornes ASA/Øyvind Tørlen (CEO).
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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Source: Ekornes via Thomson Reuters ONE