Reduced sales of DAB products and fewer working days affect Mekonomen Group's sales negatively in the first quarter 2018

09 April 2018 22:40

Despite an underlying stable sales development in the core business, the company's sales in the first quarter 2018 were negatively affected by significantly reduced sales of DAB products (Digital Audio Broadcasting products)* and fewer working days, compared with the first quarter 2017. Sales for the first quarter 2018 are expected to land approximately SEK 40 M lower than the corresponding period last year.

Sales were affected by significantly lower sales of DAB products in Norway, as well as fewer working days, Easter effect, one working day fewer in Sweden and three working days fewer in Norway, compared with the same period previous year. Mekonomen Group´s earnings are also affected negatively by the weak Swedish krona.

In connection with the declining sales trend of DAB products in Norway, the company also analyzes the need for any write-down of inventory value for the product category.

For further information, please contact;

Åsa Källenius, CFO Mekonomen Group
Tel: +46 (0)8-464 00 00 Email: asa.kallenius@mekonomengroup.com

Helena Effert, Head of Investor Relations Mekonomen Group
Tel: +46 (0)8-464 00 00 Email: helena.effert@mekonomengroup.com

This information is such information that Mekonomen AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 10:40 p.m CET on 9 April 2018.
The press release is published in Swedish and English. The Swedish version is the original version and has been translated into English.

*Car accessories adapted to digital radio broadcasting. DAB stands for Digital Audio Broadcasting.