The Swedish furniture manufacturer Lammhults has sold its two subsidiaries Ire Möbel and H I T effective November 1 at a symbolic price. This was announced by the company in a press release published on the same day. The buyer was not named. Ire Möbel includes the two brands Ire and Voice. The company is active exclusively in the consumer segment. So far, Ire Möbel was part of the ” Office & Home Interiors division” , which will in future only include products for the public sector and office furniture.
Losses for Ire Möbel
According to Lammhults, Ire Möbel has been writing losses for several years. In 2017, the operating loss was SKr 2.6 million (€ 253.000) ; In the first nine months of the current fiscal year, it was at SKr 5.1 million (€ 495.000). The transaction is expected to impact Lammhults earnings in the fourth quarter with SKr 11 million (€1.06 mln).
Increased sales for Lammhults
Overall, the operating result of Lammhults increased by 41% to SKR 32.0 million (€ 3.1 mln) in the first three quarters. Of this amount, Skr 21.1 million went to Office & Home Interiors (-7%). In the second business segment “Public Interiors” an operating profit of SKR 10.9 million was achieved. Total sales of Lammhults increased by 7% to 691.1 million skr (€ 67.1 mln) Revenues in the Public Interiors segment increased by about a quarter to nkr 197.0 million. In the office & home interiors division, an increase of 3% to 496.5 million skr was achieved.
