Ekornes’ half-year results for 2010 show an increase in revenue and profits. Profit before tax increased by 72.8 percent to NOK 296M.
Gross operating revenues increased by 19 percent to NOK 1.5B. The consolidated operating profit increased by 55.2 percent to 291.3M; compared to 187.7M in the same period in 2009. Overall number of orders increased, and 2nd quarter was particularly strong with a 10% increase in new orders.
The international furniture market is still impacted by the economic downturn. In spite of weak markets, Ekornes CEO Øyvind Tørlen is satisfied with the overall performance. “It shows the strength of our marketing concept, products, brand and dealer network,” says Tørlen.
It has been challenging to deliver the orders on time because of the great demand, but the six factories in Norway have been up to the challenge. Ekornes has 100 additional employees now compared to one year ago.
“I’m impressed at the effort put in by our employees in all parts of the production,” says Tørlen. He tells that employees could expect an annual bonus of 86 percent of monthly salary based on this result. “I hope the remainder of the year will contribute to a good final bonus payout to all of our employees,” he adds.
For addition information, please contact:
Øyvind Tørlen, CEO, Ekornes ASA
email: oyvind.torlen@ekornes.no
Mobile: +47 971 11 979
Image bank