Ekornes posted its best first quarter in company history

Ekornes posted its best first quarter in company history, and opened the 2010 strong. Furniture Group had an operating profit of 155 million and a profit before tax of 154 million kroner.

“The staff should have the credit for this fantastic result. They have rolled up their sleeves in an uncertain economic time, and now we are reaping the fruits,” says CEO of Ekornes Øyvind Tørlen.

Ekornes has had a very good start to 2010, and sales in the first quarter of 785 million, an increase of more than 90 million, compared with 2009. Profitability in the first month was high, and the operating margin was 19 percent, compared with 15 percent during the same period last year.

The sales in the U.S. in particular stands out positively for Ekornes in 2010. Sales in the U.S. has picked up again and is 28 percent higher than in the first quarter of 2009.

“We are very pleased that the U.S. market shows strong improvement. It is a demanding market with demanding customers. The Americans once again choose Ekornes, we are excited,” said Oyvind Tørlen.

There is still uncertainty as to the world economy. Ekornes is well equipped to meet the demanding markets and skilled competitors in the future.

New orders for Ekornes is roughly on a par with last year. The company has high order backlog of 390 million by the end of April, compared with 306 million at the same time last year.

“This means that the factories to Ekornes going for full load up to the summer holidays,” says CEO of Ekornes, Øyvind Tørlen.

Ekornes ASA is the largest furniture manufacturer, and is headquartered in Ikornnes in Sykkylven. The Group has approximately 1,550 employees, about 1,350 of these jobs in Norway. Ekornes has six factories in Norway.

Source: Ekornes