Nammo continued its positive development through 2004. The sale was stable at the same level as the year before; 1521 MNOK in 2004 compared to 1529 MNOK in 2003. The net operating profit increased by 5,3% to 131 MNOK in 2004, compared to 125 MNOK in 2003.
2004 was a steady and stable year in Nammo. The tendency for some time, where the export share is increasing, continued also in 2004, and is now 57% (55% in 2003). The sale to our home market in the Nordic countries amounted to 43%, where Norway has 13%, Sweden 18% and Finland 12%. All business units in Nammo as well as production sites in all our countries experienced a positive development during the year. The average number of employees decreased from 1243 in 2003 to 1170 in 2004, reflecting an organisation well adjusted for the future. At end of 2004 the order backlog was approximately 2000 MNOK.
Focus on continuous improvements in all aspects of the organisation from the operational to the administrative areas continued, keeping in mind the importance of having a structured and organised process accepted by the employees. An important tool in the improvement efforts has been the AGILE tool, which has progressed to a “6 sigma” process. Included in the improvement process is also a strong commitment to our HESS programmes to secure that health, environment, safety and security aspects are all taken into consideration in all our processes.
For further information, please contact:
Edgar Fossheim, President and CEO
Tel: +47 61 15 19 50
SVP Business Development
Tel: +47 61 15 24 24