Fredrik Zöögling, CEO and President of ProfilGruppen, comments:
”We summarize a first quarter that to some extension was affected by the spread of covid-19 and its consequences. In the end of March the demand decreased significantly from our customers in the Automotive segment when several of them closed their facilities temporarily. We have also seen a tendency of slow down from other segments, mainly on extrusions with added value during the later parts of March, which in total has had an effect on the result for the period.
Positive for now is that the inflow of new requests has increased and new agreements have been made during the period. On the 23rd of March it was decided to use short-term layoffs in order to be able to customize the capacity to the current demand situation. That way are we able to balance our costs, maintain all competence and act promptly when the demand increases. The organization has answered up to these actions in a solidary way and stays strong despite the head-wind.“
For more information, please contact:
Fredrik Zöögling, President and CEO
Mobile: +46 (0)70-932 16 50
ProfilGruppen is a supplier of customised aluminium extrusions and components. Current information and photographs for free publication are available at www.profilgruppen.se
This information is of the type that ProfilGruppen AB (publ) is obligated to disclose in accordance with the Market Abuse Regulation and Nasdaq Stockholm:s regulation for issuers. The information was issued through Fredrik Zöögling for publication on April 9, 2020 at 14:00 CET.