Increase in orders

Ekornes received orders worth NOK 1.317 million in the first half of 2009, compared to NOK 1.287 million during the same period in 2008.

- This is highly satisfactory, especially regarding the fact that the furniture market remains difficult, both in Norway and internationally, says CEO Øyvind Tørlen.

The order increase happens both in Central Europe (a 10 per cent increase) and in Norway, the latter seeing a growth of 26 per cent in the first half of 2009. The main growth is found within the product areas Svane mattresses and Stressless recliners.

This is Øyvind Tørlens first financial report as CEO of Ekornes. Tørlen took on the position as CEO before this summer, and is now in charge of a company with stable profits. Ekornes generated an operating profit of NOK 187.7 million, which amounts to 14.9 per cent of the gross operating revenues of NOK 1,263.1 million

Taking back workers

This winter, 62 Ekornes employees were put on leave following a significant drop in the number of orders. Today, nearly all of them are back at work. This means a lot to the local communities housing Ekornes factories, and to the Ekornes Group.

- Our aim has always been to recall all these employees, and I am happy to say we are very close to reaching that goal, Øyvind Tørlen says.

Following the increase in orders, Ekornes ups the production capacity of Stressless recliners from around 1.500 per day, to 1.570.

Strengthened through the financial crisis

The Group delivers a strong result for the first half of 2009, but the market remains demanding and insecure. Still, Ekornes has expectations of exiting the financial crisis as a strengthened company.

- We have well-known brands, a strong sales and marketing system, low debt and a strong balance. Combined with a modern, efficient production and skilled, motivated personell, this gives us a competitive edge, Øyvind Tørlen says.

Ekornes ASA is the largest furniture manufacturer in the Nordic countries, seated at Ikornnes in Sykkylven, Norway. Ekornes has a total workforce of around 1,500 people, of whom some 1,300 work at the company's six Norwegian production facilities.