2017-02-13 - Kährs Group

Kährs Group: Year-end Report 2016

Continued strong sales growth for Kährs Group 

Fourth quarter

  • Net sales totalled SEK 736 million (667), an increase of 10 per cent compared with the same period in 2015. FX adjusted sales growth was 9 per cent, excluding a currency impact (net) of SEK 11 million
  • Operating profit before depreciation, amortisation and non-recurring items (adjusted EBITDA) was SEK 76 million (83), corresponding to an operating margin of 10.3 per cent (12.4)
  • Operating profit before non-recurring items (adjusted EBIT) for the fourth quarter decreased by 7 per cent to SEK 54 million (58), corresponding to 7.3 per cent (8.7)
  • Consolidated result for the quarter was SEK -30 million (18) and the decline was mainly related to non-recurring items of SEK 78 million (38). These were primarily related to a reserve for a legal dispute in the US as well as a capital loss related to the sale of an associated company

January - December 2016

  • Net sales for the full period January-December amounted to SEK 2,894 million (2,724), an increase of SEK 170 million or 6 per cent compared with the previous year. FX adjusted sales growth was 7 per cent
  • Operating profit before depreciation, amortisation and non-recurring items (adjusted EBITDA) for the period was SEK 320 million (314), corresponding to an operating margin of 11.1 per cent (11.5).
  • Operating profit excluding non-recurring items (adjusted EBIT) for the period was SEK 227 million (217), corresponding to an operating margin of 7.8 per cent (8.0). The FX adjusted improvement in profit was SEK 10 million or 5 per cent
  • Consolidated profit for the period was SEK 59 million (62). Non-recurring items in 2016 totalled SEK 94 million (45)
     

President and CEO Christer Persson comments:
”Kährs Group’s stable sales growth continued, with an increase of 10 per cent in the fourth quarter. Strong underlying sales in the core markets Sweden, Germany, the UK and the US, contributed to the development. Also for the full year we saw a good development with increased sales and improved operating profit of 6 and 5 per cent respectively.

I am positive about the Group’s ability to continue improving sales and profitability also in 2017. We will achieve our continued growth by launching new products, enhancing the brand experience, increasing our presence in the projects market and leveraging the potential of the digital ecosystem.”
  

For further information, please contact:
Christer Persson, President and CEO, tel: +46 70 271 20 14
Torbjörn Clementz, CFO, tel: +46 70 869 07 88

  

About Kährs Holding AB (publ) 
Kährs Holding AB (publ) is a world-leading flooring manufacturer in hardwood and resilient flooring with a number of strong brands in its product portfolio, including Kährs, Karelia and Upofloor. The Company's innovations have shaped the industry throughout history and Kährs Group is dedicated to providing the market with innovative new flooring solutions. Kährs Group, which delivers products to more than 70 countries, is the market leader in Sweden, Finland, Norway and Russia and holds a strong position in other key markets, such as the UK and Germany. The Group has approximately 1,600 employees and annual sales of EUR 300 million. www.kahrsgroup.com

Kährs Holding AB (publ) - Year-end Report 2016