Interim results from OM for the first quarter of the year show both revenue (SEK 612 m against SEK 703 million a year ago) and operating profits (SEK 97 m versus SEK 119 million) were down. Income after financial items was a mere SEK 11 m (SEK 26 million).
The company says its markets remain weak, but it is pleased with the results of its cost-cutting programme and reorganization. “We have now concluded the cost-reduction programs we implemented last year according to plan,” says Per E. Larsson, president and CEO. “At the same time, it is discouraging to see how our revenues have continued to be affected negatively by a weak demand on our most important markets during the quarter. We will continue to focus on enhancing operational efficiency.”