2018-04-27 - Kährs Group

Kährs Group: Interim Report January-March 2018

Strong sales and a stable operating profit for the first quarter 2018

First quarter, January - March

  • Net sales totalled SEK 833 million (782), an increase of 7 per cent compared with the same period in 2017. Organic sales growth was 6 per cent
  • Operating EBITA decreased 13 per cent and totalled SEK 60 million (69), corresponding to an operating margin of 7.2 per cent (8.8). The decline is mainly due to a market valuation of FX Futures that had a negative impact on profit of SEK 11 million
  • Operating profit (EBIT) declined by SEK 3 million, for the first quarter, to SEK 60 million (63), corresponding to 7.2 per cent (8.1). Profit was positively affected by higher net sales, lower overhead and no items affecting comparability, SEK 0 million (5) during the quarter. The negative impact on profit was primarily related to a lower gross margin and the market valuation of the company’s FX Futures
  • Consolidated profit for the quarter was SEK 14 million (45)
  • Earnings per share totalled SEK 453 (1,544)

President and CEO Christer Persson comments:
”The Kährs Group had robust sales growth of 7 per cent during the quarter, driven mainly by good demand and the company's strong position. The Nordics and Europe segments demonstrated the strongest growth, while sales for Other Markets and Resilient Global declined somewhat during the quarter. A negative revaluation of our FX Futures portfolio had impact on earnings, and operational EBITA for the Group decreased by 13 percent in the quarter to SEK 60 million, corresponding to a margin of 7.2 percent.

Overall, 2018 has had a satisfactory beginning and I look forward to the rest of the year with confidence. By focusing on design, quality and innovation, we will continue to strengthen our position and create added value for the customer.”

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 Europe-leading flooring manufacturer in hardwood and resilient flooring with several strong brands in its product portfolio, including Kährs, Karelia and Upofloor. Kährs’ innovations have shaped the industry throughout history and the company is dedicated to providing private, commercial and public spaces with environmentally sound and long-lasting flooring solutions. Kährs Group, which delivers products to more than 70 countries, is the market leader in Sweden, Finland and Russia and holds a strong position in other key markets, such as Norway, 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 1, 2018