HMS HMS Networks AB

HMS Networks realize immediate cost synergies and launches cost-saving program to streamline the organization

HMS Networks realize immediate cost synergies and launches cost-saving program to streamline the organization

Following the closing of the acquisition of Red Lion Controls (“Red Lion”) on April 2, 2024, HMS and Red Lion have started the work of realizing synergies between the companies and hereby announces immediate cost synergies. Additionally, as a result of strong organic growth the last few years, and a dampened market demand experienced over the recent quarters and a slower market recovery, HMS is now initiating a cost-saving program to reduce the costs and streamline the organization to be positioned for further growth.

The main initiatives of the program will be to realize early cost synergies from the acquisition of Red Lion and a restructuring of the Anybus organization, but also a fine-tuning of the European organization. The program is expected to affect approximately 45 positions in total, of which approximately 25 positions in Sweden, and result in cost savings of about SEK 30 million in 2024, with a full year effect of about SEK 55 million. As a result of the program, HMS will commence negotiations with labor unions in Sweden.

The expected cost savings will gradually materialize during the second quarter of 2024, with full impact from the start of the third quarter of 2024. As a result of the cost-saving program, the company expects one-time restructuring costs of approximately SEK 35 million during the second quarter.

For more information, please contact:

Staffan Dahlström, CEO HMS, +46 (0)35 17 29 01

Joakim Nideborn, CFO HMS, +46 (0)35 710 69 83

HMS Networks AB (publ) is a market-leading provider of solutions in Industrial Information and Communication Technology (Industrial ICT) and employs over 1 200 people. Local sales and support are handled through over 20 sales offices all over the world, as well as through a wide network of distributors and partners. HMS reported sales of SEK 3,025 million in 2023 and is listed on the NASDAQ OMX in Stockholm in the Large Cap segment and Telecommunications sector.

Attachment



EN
16/04/2024

Underlying

HMSHMS Networks AB

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on HMS Networks AB

ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Daniel Thorsson
  • Simon Granath
05/14/24 May 14, 2024 1 EN
 PRESS RELEASE
Free
HMS HMS NETWORKS AB

Change in number of shares and votes in HMS Networks

Change in number of shares and votes in HMS Networks As previously announced, HMS Networks has carried out a directed share issue. The directed share issue has resulted in a change in the number of shares and votes in HMS Networks. Prior to the directed share issue, the total number of shares in HMS Networks amounted to 46,818,868, corresponding to 46,818,868 votes. The number of shares and votes has as a result of the directed share issue increased by 3,500,000. As of April 30, 2024, the total number of shares in HMS Networks amounts to 50,318,868, corresponding to 50,318,868 votes.1 ...

April 30, 2024 1 EN
 PRESS RELEASE
Free
HMS HMS NETWORKS AB

Förändring av antalet aktier och röster i HMS Networks

Förändring av antalet aktier och röster i HMS Networks HMS Networks har som tidigare offentliggjorts genomfört en riktad nyemission av aktier. Emissionen har resulterat i en förändring av antalet aktier och röster i HMS Networks. Före emissionen fanns sammanlagt 46 818 868 aktier i HMS Networks, motsvarande 46 818 868 röster. Antalet aktier och röster har genom emissionen ökat med 3 500 000. Per den 30 april 2024 finns det sammanlagt 50 318 868 aktier i HMS Networks, motsvarande 50 318 868 röster.1 För mer information, vänligen kontakta:Staffan Dahlström, VD HMS, ...

April 30, 2024 1 EN
Free Trial
HMS HMS NETWORKS AB

HMS Networks AB: 1 director

A director at HMS Networks AB bought 625 shares at 400.000SEK and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly...

04/27/24 April 27, 2024 1 EN
 PRESS RELEASE
Free
HMS HMS NETWORKS AB

Resolutions at the Annual General Meeting in HMS Networks

Resolutions at the Annual General Meeting in HMS Networks HMS Networks AB (publ) held its Annual General Meeting on April 23, 2024. The Meeting resolved in favour of all matters in accordance with the proposals of the Board of Directors and the Nomination Committee. The main contents of the most important resolutions are described below. ALLOCATION OF EARNINGSThe Annual General Meeting resolved to approve the Board's proposed dividend of SEK 4.40 per share. The record date for the dividend was set to be April 25, 2024. The dividend is expected to be distributed by Euroclea...

April 23, 2024 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch