SWEDEN - Nobia Group, one of the largest global kitchen furniture manufacturer, closed its 2019 balance sheet at a good level.
With SEK 13.93 billion (EUR 1.308 billion), Nobia increased its sales by 5 percent. EBIT improved by 11 percent to SEK 1,132 million (EUR 106 million). It also marks the end of a highly important year for Nobia, with a new direction for the company and decision on major future investments.
One highlight was the decision to invest SEK 2 billion (EUR 190 million) in a new state-of-the-art factory in Jönköping, Sweden, to replace Nobia’s existing factory in Tidaholm in 2024, which was announced in December. The manufacturing volume at the factory in Tidaholm, Sweden, will be transferred to the new factory, as will parts of the volume in Nobia’s plant in Ølgod, Denmark.
The new factory will be unique in its ability to mass produce made-to-order kitchens and will be instrumental for Nobia to realize its strategy and cement its leading position in Europe.
“Solid cash flow provides the financial scope to further expand profitable growth, both organically and through acquisitions,” said President and CEO Jon Sintorn. “We have an exciting 2020 ahead of us and look forward to sharing more of our plans on a capital markets day in Stockholm on March 19th.”
