Nobia has, following customary negotiations with the local union, decided to transfer the production of its Novart kitchen range for the Finnish market from Nastola, Finland, to Nobia's manufacturing facility in Ølgod, Denmark, and consequently close the factory in Nastola.
The transfer will involve a one-time cost of approximately €6 million, of which €1 million is non-cash, which will be recognized in Nobia's second-quarter 2025 results. The transfer to Ølgod is expected to be completed during 2025 and generate annual efficiencies of approximately €4 million.
"While maintaining a Nordic-based production footprint, this move is aimed at strengthening Nobia's long-term presence and competitiveness in the Finnish kitchen market. The relocation leverages economies of scale and other advantages provided by Nobia's Nordic supply chain network, including an improved product portfolio," says Kristoffer Ljungfelt, President and CEO of Nobia.
For further information:
Tobias Norrby
Head of Investor Relations
+46 706 647335
tobias.norrby@nobia.com
Nobia develops, manufactures and sells kitchen solutions through a number of strong brands in Europe, including Magnet in the UK; HTH, Norema, Sigdal, Invita, Superfront and Marbodal in Scandinavia as well as Novart in Finland. Nobia generates profitability by combining economies of scale with attractive kitchen offerings. The Group has approximately 4,000 employees and net sales of about SEK 11 billion. The share is listed on Nasdaq Stockholm under the ticker NOBI. www.nobia.com
