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1st Quarter of 2022
Net sales for the first quarter of 2022 amounted to MSEK 90 (86).
Operating profit for the quarter amounted to MSEK 0 (0). Operating margin was 0 percent (0).
Result for the period during the quarter amounted to MSEK -1 (0), which corresponds to earnings per share of MSEK -0.01 (0.00).
Cash flow from operating activities during the quarter amounted to MSEK 5 (2).
A WORD FROM THE CEO
Orio begins 2022 with continued good profitability in the Parts business and good growth for Orio Logistics
Net sales for the first quarter of 2022 increased by 5 percent compared with the previous year from MSEK 86 to MSEK 90, thanks to good sales in both business areas. The Group also delivered an operating profit on a par with the same period last year, despite major cost challenges, primarily with regard to transport and energy costs. Cash flow from operating activities improved in the quarter by MSEK 3 compared with the first quarter of 2021.
Thanks to good sales with retained margins, improved profitability was delivered in the Parts business area during the quarter. Good cost control together with strategic price adjustments and a number of successful efficiency initiatives contributed to profitability.
The good growth for Orio Logistics continued in line with previous years into the first quarter. The business area grew for external customers by 44 percent in the quarter. Growth was generated from both the development of existing customers and new contracted customers.
Orio’s joint venture Nyköpings Logistikpark AB continues on the paved path with land preparation and preparatory development work in parallel with talks with potential future logistics tenants.
Market trends and results
Net sales for the first quarter of 2022 amounted to MSEK 90.
Gross profit increased by MSEK 1 during the first quarter of 2022 compared with the corresponding quarter last year and amounted to MSEK 33. The gross margin during the quarter was 37 percent, which is unchanged compared with the corresponding quarter in 2021.
For the first quarter of 2022, Orio reports an operating result of MSEK 0 and a net result of MSEK -1. Cash flow from operations for the quarter was MSEK 5 and the equity ratio per 31 March 2022 was 80 percent.
The business and our strategy
The Group’s strategy within the Parts business area is to maintain the global customer base of workshops and distributors that focus on Saab cars by ensuring a relevant product range of Saab original parts and aftermarket alternatives with associated services. Within the Logistics business area, the strategy is to provide logistics services through innovative solutions that strengthen our customers’ competitiveness and profitability.
Nyköping, 20 April 2022
Gustaf Ljunggren, CEO