FM Mattsson Group initiates efficiency programme

FM Mattsson Group has, during the latter part of 2022, experienced lower sales and profitability in the group’s Nordic business. This is a result of a weaker construction market related to bathrooms and kitchens and is expected to continue during 2023. The lower sales have the clearest effect on the production site in Mora. Therefore, the decision has been taken today to reduce the number of employees in Mora, where the head office and production are located, to increase the efficiency of the business in the current situation. The objective is to reduce the number of employees in Mora by c. 35. The business currently has c. 565 employees in the group, of which 335 are based in Mora.
Negotiations between affected parties will begin immediately. The efficiency programme is expected to generate annual cost savings of c. 15 MSEK once it is completed in the third quarter. The company cannot yet judge what one-off costs may be incurred as a result of the decision.
The company plans to provide further information in conjunction with its normal reporting process.