2017-08-11 - Kährs Group

Kährs Group: Interim Report January–June 2017

Stable sales growth and strong operating profit for second quarter 2017

Second quarter, April-June 

  • Net sales totalled SEK 792 million (755), an increase of 5 per cent compared with the same period in 2016. Organic sales growth was 3 per cent
  • Operating EBITA rose 23 per cent and totalled SEK 75 million (61), corresponding to an operating margin of 9.5 per cent (8.1)
  • Operating profit (EBIT) for the second quarter dropped 19 per cent to SEK 46 million (57), corresponding to 5.8 per cent (7.5). The decrease can be attributed to non-recurring items of SEK 30 million (4) in the quarter, primarily related to changes in the production structure
  • Consolidated profit for the quarter was SEK 35 million (35)
  • In June, the company completed a refinancing, leading to a more efficient capital structure for Kährs going forward
  • The company paid shareholders a dividend of SEK 219 million in June

President and CEO Christer Persson comments:
”Kährs Group showed stable sales growth and continued improvement in operating profit in the second quarter. Our three hardwood flooring segments, Nordics, Europe and Other Markets, all contributed to the sales increase of 5 per cent compared with the previous year.

The Kährs Group continues to develop in a positive direction. We have a good strategic platform to continue our profitable growth, with strength in our production facilities, our wide range of products and our well-established international sales organisation.”

For further information, please contact:
Christer Persson, President and CEO, tel: +46 70 271 20 14
Peter Ericsson, Communication and Compliance, tel: +46 70 461 10 39

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 1,700 employees and annual sales of EUR 300 million. www.kahrsgroup.com

Kährs Holding AB (publ) - Interim report quarter 2, 2017