Nammo AS had a considerable good development in 2005. Sales was at the end of the year at 1641 MNOK compared to 1521 MNOK in 2004.
The operating result improved from 131,4 MNOK in 2004 to 206,0 MNOK in 2005. Net income before tax (NIBT) was 216,5 MNOK compared to 129,4 MNOK in 2004.
The Group has experienced a positive development both in the home market (Northern Europe) as well as in the export markets. In 2005 Nammo’s export outside the Nordic area reached 60%.
All business areas in Nammo had a positive development in 2005. The number of man-years remained stable with a minor decrease from 1170 in 2004 to 1162 in 2005. Nammo’s order backlog improved from 2004 and is relatively good in a medium-to-long term perspective.
Nammo was established in 1998 through the merger of ammunition companies in Norway, Sweden and Finland, and the Group is now benefiting from these mergers.
Focus on efficient management, quality and continuous improvements are also part of the explanation for last year’s good result.
The company continues its focus on niche products with high technological content. It is of major importance for Nammo to have strong support from its owners and a long-term industrial cooperation to the benefit of all Nammo customers. This creates an important foundation for continued improvement in our markets.
For any further question, please contact:
Morten Brandtzæg, Senior Vice President and CFO
Tel: +47 61 15 21 03
Sissel Solum, Vice President Communication
Tel: +47 61 15 22 42