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Third party research

Ferronordic: Gains compensation for terminating contract with Volvo CE in Russia, likely adding SEK 22 per share to valuation - Nordea

Ferronordic

This is a third party research report and does not necessarily reflect our views or values

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Today (29 August) Ferronordic announced that it has agreed to terminate its dealer agreements with Volvo CE in Russia. It will receive SEK 321m from Volvo CE in Q3 as compensation for incurred and potential costs related to the termination. This compensation was not previously reflected in our estimates nor valuation, so we will likely add this amount to our SOTP model.
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