Clas Ohlson: Year-end report 1 May 2012 – 30 April 2013
* Sales totalled SEK 1,274 M (1,272).
In local currencies, growth was 3%.
* Operating loss of SEK 19 M reported (profit: 10).
* Loss after tax amounted to SEK 17 M (profit: 7).
* Loss per share was SEK 0.27 (earnings: 0.11).
* Sales totalled SEK 6,519 M (6,260), up 4%.
In local currencies, growth was 5%
* Operating profit amounted to SEK 431 M (561), down 23%.
* Profit after tax was SEK 332 M (400), down 17%.
* Earnings per share amounted to SEK 5.23 (6.29), down 17%.
* Cash flow from operating activities totalled SEK 518 M (965).
* Adjusted dividend policy: The dividend is to comprise at least 50 per cent of earnings per share after tax, with consideration for the financial position
* The proposed dividend corresponds to SEK 4.25 per share (4.25)
Events after the end of the reporting period
* Sales in May amounted to SEK 455 M (434), up 5%.
In local currencies, growth was up 8%.
* Clas Ohlson is developing a new offering for corporate customers – Clas Office.
* Resolution by the Board of Directors to exercise the Annual General Meeting’s authorisation to repurchase shares to guarantee LTI 2013.
CEO Klas Balkow comments:
“With the fourth quarter behind us, which is our seasonally weakest quarter, we can now summarise the 2012/13 financial year. We continued to expand and capture market share during the year, with 5 per cent growth in local currencies in a weak retail market. Operating profit for the year, totalling SEK 431 M, was lower than the preceding year, primarily due to weaker sales in comparable stores.
With Clas Ohlson’s strong market position, brand and financial position as our base, we are expanding our concept to new customer segments. We are developing our offering to encompass corporate customers, with a focus on small and midsize offices, based on Clas Ohlson’s broad and attractively priced product range and extensive sales network. Launch, in Sweden and Norway initially, is scheduled for the first half of 2014. Our preparations for entering new markets continue, with one to two stores in northern Germany and e-commerce during the 2014 calendar year.
The new financial year started in a positive way, with 8 per cent sales growth in local currencies during May,” says Klas Balkow, President and CEO.
Analyst and media conference
An analyst and media conference will be held today, Tuesday 11 June at 10 a.m. (CET). For participation, please visit www.financialhearings.com
For more information, please contact:
Klas Balkow, CEO and President, Clas Ohlson AB: +46 (0)247-447 55
John Womack, Director of Information and IR, Clas Ohlson AB: +46 (0)247-444 05
The information in this interim report is such that Clas Ohlson is obligated to publish according to the Securities Market Act. This information was submitted for publication on 11 June 2013 at 08:00 a.m. (CET).
About Clas Ohlson
Clas Ohlson was founded in 1918 as a mail order business based in Insjön, Dalarna, Sweden. Today, the company has 176 stores in four countries and sales via the Internet, mail order, telephone and social media. Clas Ohlson helps its customers solve everyday practical problems with a range of affordable products in the five product areas: Hardware, Electrical, Home Multimedia and Leisure categories. The company is listed on the OMX Nordic Exchange and has approximately 4,000 employees. For further information about Clas Ohlson, visit http://about.clasohlson.com (financial information) or http://www.clasohlson.com (e-commerce).