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Alk Abello A/S Simplifies Business Structure and Plans Layoffs; Company Confirms FY 2012 Guidance

Monday, 3 Dec 2012 11:19am EST 

Alk Abello A/S (ALK) announced that it has finalized the planning of the initiatives to streamline its business structure. The costs are related to a streamlining of the European sales and marketing organization as well as to a simplification of the production, as ALK will gradually phase out and close down three production facilities and consolidate the activities in centers of excellence. Furthermore, the business structure will be streamlined in other areas, including Finance and IT (information technology) functions which will be organized in global functions. These changes imply that 120-130 positions will be made redundant over the next few years. As a result of the above, ALK expects to recognize costs of approximately between DKK 60 million and DKK 70 million in a special items line in its income statement for 2012. EBITDA before special items is still expected to exceed DKK 300 million and total revenue of up to DKK 2.4 billion is still expected for the fiscal year 2012. According to I/B/E/S Estimates, analysts on average are expecting the Company to report EBITDA of DKK 317.25 million and revenue of DKK 2,376.14 million for the fiscal year 2012. The initiatives under the Simplify program will lead to cost savings of approximately DKK 100 million net per year to be seen gradually from 2013 and with full effect from 2016. 

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16.0 +2.52%
21 Oct 2014