Ferronordic: Pulls a rabbit out of the hat - ABG

Divests its Russian operations, gains SEK 75 per share


We had no value on Russia for '23e and beyond


We expect more info on capital allocation in Q4 report


Divests Russian business, SEK 75 cash effect per share

Ferronordic announced today that it divests its Russian business for SEK 1,320m, or SEK 1,090 after paying of debts, which amounts to a postiive cash effect of SEK 75 per share. The money has been deposited in the company's Austrian account (in EUR), and as a result there is no risk that Ferronordic will not be able to access the full amount.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/ferronordic/Equity-research/2022/12/ferronordic---pulls-a-rabbit-out-of-the-hat/