MT Højgaard Holding: MTHH’s ScandiByg announces staff cuts - ABG

ScandiByg considers laying off up to 60 employees
Cites challenging conditions and lack of orders
Follows several Q’s of negative earnings and new CEO


Lay-offs represent ~24% of reported 2021 FTEs

MTHH’s ScandiByg unit has this morning announced that it is considering a staff reduction of approximately 60 people representing approximately 24% of the reported 250 headcount by end 2021. The announcement follows several quarters of negative earnings for the unit, culminating with a negative margin of 19.5% in Q322 and the announcement of a new CEO last week. The company cites challenging market conditions (inflation, interest rates, etc.). The wording ‘considers’ respects the Danish legal framework for collective lay-off’s. The announcement furthermore follows the announcement of a new CEO as of last week (November 10, 2022).

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/mt-hojgaard-holding/Equity-research/2022/11/mt-hojgaard-holding---mthhs-scandibyg-announces-staff-cuts/