Simonsen Sverige AB / Textilia Tvätt- Textilservice AB
In March 2003 I was employed as CFO for Simonsen Sverige AB, a company with a turnover of around 800 msek and approximately 600 employees. As CFO I was responsible for the IT- and the finance departments (12 employees) but I was also very much involved in developing the strategies for the company including, supplier strategy, pricing in larger contracts etc. I kept the minutes of the board meetings as well as keeping the board informed of various financial matters.
The owner of the company decided to divest one of the business areas. In the transaction I evaluated the value of the business area and handled all the practical aspects of splitting the company.
The company changed its name to Textilia Tvätt & Textilservice AB with a turnover of around 350 msek and 500 employees. As CFO I was heavily involved in;
capital reduction project
§New routines for textile purchase, delivery frequency, reduction in the number of articles were put into place as well as new methods of communicating with the customer in order to reduce capital employed but with improved customer service-levels.
new financing structure
§The company was split into two legal entities and their investment needs, cash-flow, financing needs were calculated and a new financing structure was introduced to the board and to the banks.
reduction and relocation of the finance department
§The companies finance department was relocated to Malmö. The staff was dramatically reduced and the process for closing of the books was completely changed reducing the closing time and improving quality.
improved follow-up of key factors
§Financial management reports and clear follow-up of key success factors were implemented.
As the company's head office was moved to Ö;rebro I finished my employment at Textilia Tvätt & Textilservice AB in June 2008.
(RefPresident Sven Ek)