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Ekornes ASA (EKO.OL)

EKO.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Ekornes: Capacity adjustments in H2 2016
Tuesday, 6 Sep 2016 05:30am EDT 

Ekornes ASA : Capacity adjustments in the second half of 2016 . Due to low order intake within Ekornes' Stressless segment, production capacity at the segment's facilities on the Northwest coast of Norway will be reduced by up to five production days during September and October . Reduction equals to 5 per cent of the Stressless segment's H2 2016 capacity . Adjustments will be made at five production units on Northwest coast of Norway .Order reserve within other segments is good and no production capacity adjustments will be made within these segments.  Full Article

Ekornes Q2 adjusted EBIT up at NOK 108.8 million
Friday, 15 Jul 2016 01:00am EDT 

Ekornes ASA : Q2 Gross operating revenues of 759.5 million Norwegian crowns ($90.8 million), up 10.3 million crowns from Q2 2015 . Q2 adjusted EBIT in totalled 108.8 million crowns, up from 79.7 million crowns in same period last year .Q2 order receipts 783 million crowns, an increase of 99 million crowns compared with same period in 2015..  Full Article

Ekornes to combine two Stressless Sofa production facilities
Thursday, 23 Jun 2016 01:40am EDT 

Ekornes ASA : Decided to combine company's two Stressless Sofa production facilities, closing down Hareid facility and moving the operation to Vestlandske in Sykkylven . Restructuring is a part of previously announced cost-reduction programme and is expected to reduce cost base by more than 10 million Norwegian crowns ($1.21 million) by end of 2016 . Merger is expected to yield annual cost savings exceeding 10 million crowns . Combination of two facilities will provide a necessary capacity adjustment and a more effective production . Combination of two facilities affects some 70 employees at Hareid facility . Ekornes expects one-off costs of 5 million crowns related to the combination of the two facilities . The book value of the Hareid facility is 38 million crowns, which is expected to be impacted by write-downs . All costs will be charged to the second quarter 2016 results .The merge of the facilities will start immediately with a step-vice transfer of production during the third and fourth quarter of 2016.  Full Article

Ekornes: Capacity adjustments in the second quarter of 2016
Friday, 20 May 2016 07:24am EDT 

Ekornes ASA : Due to low order intake within Ekornes' Stressless segment, capacity at the segment's production facilities on the Northwest coast of Norway will be reduced by five production days during May and June .Order reserve is good within other segments.  Full Article

Ekornes sees Q4 oper profit of about NOK 70 mln
Thursday, 4 Feb 2016 02:57am EST 

Ekornes ASA:Sees Q4 2015 revenue of about 840 ‍million Norwegian crowns versus 786 million crowns year ago.Sees Q4 2015 operating profit of about 70 million crowns versus 73 million crowns year ago.  Full Article

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