Preben Bager comments on first-quarter performance

In his speech to the Annual General Meeting, President and CEO Preben Bager said the following:
"To date this year, the trend in the kitchen market, with few exceptions, has been weaker than we anticipated, meaning that production and deliveries remain at a low level, with low capacity utilisation. However, the structural measures implemented in 2009 mostly progressed according to plan. Nevertheless, we experienced delays in the extensive logistical changes in Hygena, which led to lost sales and higher costs than planned."

Nobia AB (publ)
30 March 2010

 

For further information, contact:
Preben Bager, President and CEO
Ingrid Yllmark, IRO,
Telephone +46 8 440 16 00 or + 46 708 65 59 00

 

Nobia develops and sells kitchens through some 20 strong brands in Europe, including Hygena in France, HTH in the Nordic countries, Magnet in the UK and Poggenpohl globally. Nobia generates profitability by combining economies of scale with attractive kitchen offerings. The Group has approximately 8,000 employees and net sales of about SEK 15 billion. The Nobia share is listed on the NASDAQ OMX Stockholm under the short name NOBI. Website: www.nobia.com. Read more about the company under "About Nobia." Financial information can be found under "Investor."