Orio AB, a global supplier of Original Saab Parts, reports an operating result of MSEK -1 (-88) /-112108.90 US Dollar/ for the period January – December 2016, in which impairment of goodwill and other items affecting comparability are included to the sum of MSEK -36 (-145).
Net sales for the period amounted to MSEK 814 (935) / $91.3 million, a decrease by 13 percent compared to the corresponding period of the previous year.
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Net sales for the fourth quarter of 2016 amounted to MSEK 187 (219), a decrease by 15 percent compared to the corresponding quarter of the previous year. Gross result for the fourth quarter of 2016 was MSEK 76 (74), which is an increase by 3 percent compared to the corresponding quarter of last year.
“2016 has been an intensive year for Orio where we have continued to take important development steps in order to strengthen our competitiveness in the long term. We have invested further to improve our IT based sales channels, scaled up for a proper venture within third party logistics, and with the launch of Orio Parts and the continued expansion of the customer network, built the foundation for Orio to grow and be successful in the long term,” says Jonas Tegström, CEO of Orio AB.
Jonas Tegström, CEO, Orio AB
“In parallel with strengthening the prerequisites to achieve our strategic growth objective, we have worked hard with improving the profitability in sales, which we succeeded with during 2016”, says Jonas Tegström.
Operating result for the quarter was MSEK -31 (-158), in which items affecting comparability are included to the sum of MSEK -36 (-145).
During the quarter, cash flow from operating activities was MSEK 17 (14), and MSEK 65 (58) for the full year 2016.
For over 15 years, Goran Aničić has been passionately focused on Saab automobiles and everything related to them. His initial encounter with Saab cars took place back in 2003 when the first Saab 9-3 and sedan version were introduced. At that moment, he was captivated by the car's Scandinavian design logic and top-notch engineering, and everything that followed stemmed from that first encounter. Later on, through his work at the editorial team of the Serbian automotive magazines "Autostart" and later "AutoBild," he had the opportunity to engage more closely with Saab vehicles. In 2008, he tested the latest Saab cars of that time, such as the Saab 9-3 TTiD Aero and Saab 9-3 Turbo X. In 2010, as the sole blogger from the region, he participated in the Saab 9-5ng presentation in Trollhättan, Sweden. Alongside journalists from around the world, he got a firsthand experience of the pinnacle of technological offerings from Saab at that time. Currently, Goran owns two Saabs: a 2008 Saab 9-3 Vector Sportcombi with a manual transmission, and a Saab 9-3 Aero Griffin Sport Sedan from the last generation, which rolled off the production line in Trollhättan in December 2011.
