2017-11-13 - Kährs Group

Kährs Group: Interim Report January–September 2017

Stable sales growth and improved operating profit during the third quarter

Third quarter, JulySeptember

  • Net sales totalled SEK 729 million (708), an increase of 3 per cent compared with the same period in 2016. Organic sales growth was 3 per cent
  • Operating EBITA rose 7 per cent and totalled SEK 63 million (59), corresponding to an operating margin of 8.6 per cent (8.3)
  • Operating profit (EBIT) for the third quarter decreased by SEK 66 million to SEK -16 million (50), corresponding to -2.2 per cent (7.1). The decline can be attributed to items affecting comparability of SEK 78 million (9) in the quarter, primarily related to a provision for tariff costs in the US of SEK 50 million, as well as changes in the production structure in Finland of SEK 13 million
  • Consolidated profit for the quarter was SEK -20 million (21)
  • Earnings per share amounted to SEK -662 (701)

President and CEO Christer Persson comments:
”The Kährs Group continued to show stable sales growth in the third quarter of 2017 at 3 per cent. The resilient flooring segment demonstrated the strongest sales growth, followed by the Nordics segment, while the development for Other Markets was below the previous year. Consolidated operating EBITA increased by 7 per cent during the quarter to SEK 63 million, corresponding to a margin of 8.6 per cent.

We continue focusing on increasing the proportion of premium sales in our business. By actively driving design and innovation, Kährs will further strengthen its position as market leader on several of our core markets.”

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

About Kährs Holding AB (publ)
Kährs Holding AB (publ) is a leading European 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 more than SEK 3 billion. www.kahrsgroup.com

Kährs Holding AB (publ) - Interim Report quarter 3, 2017