The Q1 2017 Report follows attached.
First quarter 2017 highlights include:
- Revenues were MEUR 270.7 in the first quarter, MEUR 26.9 (11.0%) above the first quarter last year, including positive currency translation effects of MEUR 5.4.
- Adjusted EBIT was MEUR 13.5 in the first quarter, MEUR 1.7 above the first quarter last year.
- During the first quarter we concluded the sale of the North American Headrest and Armrest business. As a result of this, the North American Headrest and Armrest business is reported as discontinued operations.
- In March, we announced the closure of the Heiligenhaus facility in Germany. Restructuring costs of MEUR 6.6 were accrued.
- Annualized business wins in the first quarter amounted to MEUR 35 bringing the total business wins for the last twelve months to MEUR 282.
- The adjusted gearing ratio (NIBD/EBITDA) was 2.8X at the end of first quarter including discontinued operations. Excluding discontinued operations, the gearing ratio was 2.9X.
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