SCF Technologies A/S: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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SmartGuy Group A/S Establishes New Subsidiary in Poland and Moves Warehousing to Szczecin; Plans to Lay Off 120 Warehouse Employees in Denmark
SmartGuy Group A/S announced that the Company has decided to move its warehousing from Jyderup in Denmark to Szczecin in Poland. The movement abroad will result in the layoff of 120 warehouse employees in Denmark. The relocation of warehousing is expected to contribute with an annual saving of DKK 25 million with financial effect from the beginning of the calendar year 2014 and the Group's long term EBITDA margin will be structurally improve by 5% as a result of this relocation. The transition phase will commence in August 2013 and will run until December 2013. The first part of the transition entails movement of the Kids and Sports segments. As of August 2013 the Group expects to start dispatching orders from Poland. SmartGuy Group A/S expects to be finished with the total transition phase in January 2014, when all warehouse functions will be fully operational in Poland. SmartGuy Group A/S has via a newly established subsidiary in Poland purchased a nearly completed building in Poland with final completion planned in July 2013. The investment in buildings and infrastructure amounts to DKK 55 million.
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