Kährs Group: Interim report January-June 2016

Strong sales development and increased profit second quarter 2016

Second quarter, April-June 2016

  • Net sales totalled SEK 755 million (681), an increase of 11 per cent compared with the same period in 2015. Continued solid growth in the Nordics and Europe segments, combined with a strong increase in sales in the Resilient Global segment contributed to the performance during the quarter. Organic sales growth was 13 per cent, including a currency impact (net) of SEK -14 million
  • Operating profit before depreciation, amortisation and non-recurring items (adjusted EBITDA) was SEK 84 million (76), corresponding to an operating margin of 11.1 per cent (11.2)
  • Operating profit before non-recurring items (adjusted EBIT) for the second quarter increased by 17 per cent to SEK 61 million (52), corresponding to 8.1 per cent (7.6)
  • Consolidated profit for the quarter was SEK 35 million (24) and was positively affected primarily by an increase in operating profit and lower financing costs compared with the same period in 2015  


President and CEO Christer Persson comments:

“Kährs Group continued its stable performance during the second quarter and as a result, the Group’s sales and profitability both developed positively in the period. In the Nordic region, the Swedish market reported the most favourable performance, though we also saw good sales growth in the US and in most of our major markets in Europe such as Germany, UK and Switzerland. The Resilient Global segment demonstrated robust growth during the quarter and rose 42 per cent with strong underlying sales in the US and Germany.

In early June, the Board approved the new business plan formulated in the spring, which states that Kährs Group is to be perceived as the innovative and design-driven flooring manufacturer in Europe, while being integral to leading design and interior design concepts.”
  

For further information, please contact:
Christer Persson, President and CEO, tel: +46 70 271 20 14
Jonas Bäck, CFO, tel: +46 70 510 61 43
  

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 1,600 employees and annual sales of EUR 300 million. www.kahrsgroup.com

About Us

Kährs Group is a Europe-leading wood- and resilient flooring company with well-known and globally recognized brands such as Kährs, Karelia and Upofloor. The company’s innovations have shaped the industry and Kährs purposefully work to bring new innovations to the flooring market. Kährs Group deliver products for homes, commercial applications and public spaces in more than 70 countries. The Group have a market leading position in Sweden, Finland and Russia as well as a strong position in other important markets such as Norway, the UK and Germany.