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Mekonomen AB (MEKO.ST)

MEKO.ST on Stockholm Stock Exchange

68.70SEK
22 Feb 2019
Change (% chg)

2.50kr (+3.78%)
Prev Close
66.20kr
Open
66.20kr
Day's High
68.80kr
Day's Low
65.90kr
Volume
503,651
Avg. Vol
371,162
52-wk High
138.24kr
52-wk Low
65.30kr

Latest Key Developments (Source: Significant Developments)

Mekonomen Q4 EBIT Down At SEK 57 Million
Thursday, 14 Feb 2019 

Feb 14 (Reuters) - Mekonomen AB ::SAYS IN JANUARY AND IN FIRST PART OF FEBRUARY WE HAVE NOTED THAT DEMAND HAS STABILISED.SAYS FOR FIRST HALF OF 2019, WE EXPECT MARKET TO AGAIN GROW 1-2 PER CENT IN NORDIC REGION AND 4-5 PER CENT IN POLAND.PROPOSES NO DIVIDEND (LAST YEAR SEK 4,46)1).ADJUSTED EBIT WAS ADVERSELY IMPACTED MAINLY BY LOWER SALES IN COMPARABLE UNITS AND LOWER GROSS MARGIN..ACQUISITIONS OF MINOR OPERATIONS DURING YEAR HAVE HAD NEGATIVE IMPACT ON PROFITABILITY DUE TO INITIALLY LOW EBIT MARGINS.FOR FIRST HALF OF 2019, WE EXPECT MARKET TO AGAIN GROW 1-2 PER CENT IN NORDIC REGION AND 4-5 PER CENT IN POLAND.DURING FIRST HALF OF 2019, ROUGHLY HALF OF MECA WORKSHOPS IN NORWAY WILL BE CERTIFIED TO SERVICE.GROSS MARGIN WILL BE LOWER IN FIRST THREE QUARTERS OF 2019 COMPARED TO 2018.EBIT MARGIN OF INTER-TEAM WILL REDUCE GROUP EBIT MARGINS.MERGER OF MECA'S AND MEKONOMEN'S CENTRAL WAREHOUSES IN SWEDEN WILL GENERATE COST SAVINGS OF SEK 50 M AS OF 2020.CONSIDERED IT PRUDENT AT THIS TIME TO REDUCE PROPOSED DIVIDEND UNTIL DEBT LEVELS, RELATIVE TO EARNINGS IMPROVES.CONTINUES TO SUPPORT LONGER TERM GOAL OF PAYING 50 PER CENT OF EARNINGS AS DIVIDENDS.COST-SAVINGS PROGRAMME IS COMMENCED THAT AIM TO REALISE COST REDUCTIONS OF SEK 65 M ON AN ANNUAL BASIS.AS A PART OF PROGRAMME WILL ACT ON UNPROFITABLE BUSINESSES AS WELL AS STREAMLINE OUR ORGANISATION AND PRIORITISE PROJECTS.Q4 REVENUE SEK 2.92 BILLION VERSUS SEK 1.51 MILLION YEAR AGO.Q4 EBIT SEK 57 MILLION VERSUS SEK 96 MILLION YEAR AGO.  Full Article

Mekonomen AB Expected To Report Q4 2018 EBIT In Range Of SEK 105-115 Million
Friday, 18 Jan 2019 

Jan 17 (Reuters) - Mekonomen AB ::EXPECTED TO REPORT Q4 2018 EBIT IN RANGE OF SEK 105-115 MILLION, COMPARED TO EBIT OF SEK 103 MILLION IN Q4 2017.Q4 EBIT TO BE NEGATIVELY IMPACTED BY ITEMS AFFECTING COMPARABILITY OF ABOUT SEK 28 MILLION REFERRED TO INVENTORY CHARGE.Q4 EBIT TO BE NEGATIVELY IMPACTED BY INTEGRATION COSTS FOR FTZ AND INTER-TEAM OF ABOUT SEK 25 MILLION.  Full Article

Mekonomen Says Co's Rights Issue Oversubscribed
Friday, 19 Oct 2018 

Oct 19 (Reuters) - Mekonomen AB ::MEKONOMEN'S RIGHTS ISSUE OVERSUBSCRIBED.MEKONOMEN AB - AS A RESULT OF RIGHTS ISSUE, MEKONOMEN WILL RECEIVE PROCEEDS AMOUNTING TO APPROXIMATELY SEK 1,621M BEFORE COSTS RELATED TO RIGHTS ISSUE.MEKONOMEN AB SAYS RIGHTS ISSUE WILL INCREASE MEKONOMEN'S SHARE CAPITAL WITH SEK 51,287,837.50 TO SEK 141,041,555.00 BY ISSUING 20,515,135 SHARES.  Full Article

Mekonomen Expects Sales In Q3 To Improve Yoy
Friday, 28 Sep 2018 

Sept 28 (Reuters) - Mekonomen AB ::SAYS EXCLUDING RECENTLY ACQUIRED COMPANIES FTZ1 AND INTER-TEAM2, SALES ARE EXPECTED TO BE HIGHER THAN Q3 2017.SAYS EBIT, EXCLUDING ITEMS AFFECTING COMPARABILITY AND ACQUISITIONS COSTS, IS BROADLY IN LINE WITH 2017 FOR Q3.SAYS MEKONOMEN GROUP'S OPERATIONAL PERFORMANCE FOR Q3 2018 WILL BE NEGATIVELY AFFECTED BY AN UNUSUALLY WARM SUMMER.SAYS MEKONOMEN GROUP'S OPERATIONAL PERFORMANCE FOR Q3 2018 WILL BE NEGATIVELY AFFECTED BY AN UNUSUALLY WARM SUMMER, CURRENCY EFFECTS AND AN INCREASED NUMBER OF OWN WORKSHOPS.SAYS Q3 2017 WAS POSITIVELY AFFECTED BY ITEMS AFFECTING COMPARABILITY AND HENCE Q3 2018 WILL BE NEGATIVELY AFFECTED BY COMPARISON.  Full Article

Mekonomen announces the terms of its rights issue
Tuesday, 25 Sep 2018 

Sept 24 (Reuters) - Mekonomen AB ::SHAREHOLDERS IN MEKONOMEN HAVE PREFERENTIAL RIGHTS TO SUBSCRIBE FOR FOUR (4) NEW SHARES PER SEVEN (7) EXISTING SHARES.SUBSCRIPTION PRICE IS SEK 79 PER SHARE, WHICH AMOUNTS TO PROCEEDS OF SEK 1,621M BEFORE COSTS RELATED TO RIGHTS ISSUE.RECORD DATE FOR RIGHTS ISSUE IS 1 OCTOBER 2018 AND SUBSCRIPTION PERIOD RUNS FROM 3 OCTOBER 2018 TO 18 OCTOBER 2018, BOTH DATES INCLUSIVE.SUBSCRIPTION COMMITMENTS IN RIGHTS ISSUE CORRESPOND TO 42.9 PER CENT OF RIGHTS ISSUE.  Full Article

Mekonomen April-June Revenue Rises To SEK 1.67 Bln
Friday, 27 Jul 2018 

July 27 (Reuters) - Mekonomen AB ::SAYS 1 APRIL - 30 JUNE 2018 REVENUE AMOUNTED TO SEK 1,673 M (1,560).APRIL-JUNE EBITA AMOUNTED TO SEK 202 M (203).SAYS SALES GROWTH IN Q2 OF 2018, POSITIVELY IMPACTED BY A LATE SPRING."WE EXPECT ACQUISITIONS TO GENERATE SYNERGIES OF SEK 100 M ANNUALLY, MAINLY WITHIN PURCHASING, WITH FULL EFFECT FROM 2021."."WORK RELATED TO JOINT CENTRAL WAREHOUSE FOR MECA AND MEKONOMEN IN SWEDEN IS PROGRESSING ACCORDING TO PLAN".CENTRAL WAREHOUSE AND NEW DIGITAL SPARE PARTS CATALOGUE PROJECTS PROCEEDING AS PLANNED.WORK RELATED TO JOINT CENTRAL WAREHOUSE FOR MECA AND MEKONOMEN IN SWEDEN IS EXPECTED TO GENERATE COST SAVINGS OF SEK 50 M AS OF 2020.  Full Article

Mekonomen Entered Into Agreement To Acquire car parts distributors
Friday, 6 Jul 2018 

July 6 (Reuters) - Mekonomen AB ::ENTERED INTO AGREEMENT TO ACQUIRE FTZ IN DENMARK AND INTER-TEAM IN POLAND.PURCHASE PRICE AT EUR 395 MILLION.INTENDS TO PROPOSE RIGHTS ISSUE OF ABOUT SEK 1,650 MILLION.  Full Article

Mekonomen Q3 operating profit below forecasts
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Mekonomen :Mekonomen Q3 EBIT 127 (125) mln SEK.Mekonomen Q3 sales 1,414 (1,432) mln SEK.Reuters poll mean forecast was for EBIT of 152 mln SEK and sales of 1,414 mln SEK.  Full Article

Car service firm Mekonomen warns on profit, European market "abnormally weak"

STOCKHOLM Swedish car service firm Mekonomen warned late on Thursday that its fourth quarter profit would land lower than expected, citing "an abnormally weak market" in Europe in the quarter.