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20/03-2017 19:28:25: (RENO) RenoNorden ASA: Trading update

Reference is made to the operational issues announced by 
RenoNorden ASA ("RenoNorden" or the "Company") during the 
second half of 2016. Several of the onerous contracts 
referred to in such announcements commenced operation in the 
beginning of 2017, and the commencement reveals that the 
Company is facing additional unavoidable costs compared to 
those included in the Q2 2016 re-calculations.

Some of the extra costs are one-offs that will negatively 
affect the result for Q1 2017 only, and some are increased 
costs going forward.

In addition, contracts in Denmark without local tariff 
agreements are running with more man-hours than planned due 
to unexpected high sick leave, which results in increased use 
of overtime and extra personnel.

The above is estimated to reduce the Q1 2017 EBITDA margin by 
approximately 4 percentage points compared to the EBITDA 
margin achieved in Q1 2016. Post Q1 2017, the EBITDA margin 
throughout the coming quarters is expected to remain below 
last year, but with less deviations than in Q1 2017. 

The Company's management has implemented several actions to 
mitigate the increased operational risks in the above-
mentioned contracts and the Company is in dialogue with 
customers to improve operations. 

For further queries, please contact: 
Øystein Disch Olsrød 
Group CFO of RenoNorden ASA 
Tel: +47 91602226

This information is subject to the disclosure requirements 
pursuant to Section 5-12 of the Norwegian Securities Trading 

About RenoNorden:
RenoNorden is the market leader in waste management and 
transportation in the Nordic countries, serving more than 300 
municipalities. The group has about 2,000 employees and 2016 
revenues of NOK 1.8 billion. The company is listed on the 
Oslo Stock Exchange with the ticker RENO. More information at

Ekstern link:

Nyheten er levert av OBI.

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