2018-07-20 - Kährs Group

Kährs Group: Interim Report January-June 2018

Strong sales growth with stable underlying operating profit

Second quarter, April - June

  • Net sales totalled SEK 844 million (792), an increase of 7 per cent compared with the same period in 2017. Organic sales growth was 6 per cent
  • Operating EBITA rose 1 per cent and totalled SEK 76 million (75), corresponding to an operating margin of 9.0 per cent (9.5). Market valuation of the Group’s FX Futures had a negative impact on earnings of SEK 5 million
  • Operating profit (EBIT) for the second quarter improved by SEK 24 million and totalled SEK 70 million (46), corresponding to 8.3 per cent (5.8). Profit was positively affected by higher net sales, stable overhead and lower items affecting comparability, 6 million (30) during the quarter. The negative impact on profit was primarily related to the market valuation of the company’s FX Futures
  • Consolidated profit for the quarter was SEK 27 million (35)
  • Earnings per share totalled SEK 903 (1,111)

President and CEO Christer Persson comments:
”Kährs Group reported continued robust sales growth of 7 per cent in the second quarter. The Nordics and Resilient Global segments demonstrated the strongest growth, while sales for the Europe and Other Markets segments declined somewhat. Operating EBITA increased by 1 per cent during the quarter to SEK 76 million, corresponding to an operating margin of 9.0 per cent. However, the revaluation of our FX Futures portfolio had a negative impact on earnings.

Overall, we can conclude that 2018 is off to a good start and I confidently look forward to our continued journey. By focusing on the needs of our customers, we continually strengthen our market position.”

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 2, 2018