Kährs Group: Interim report January-March 2016

Continued stable profitability for Kährs Group

First quarter, January-March 2016

  • Net sales totalled SEK 695 million (687), an increase of 1 per cent compared with the same period in 2015. Good growth in the Europe segment offset the weaker trend in the Resilient Global segment for the quarter. The organic sales growth was 1 per cent since the currency effect (net) was 0 SEKm
  • Operating profit before depreciation, amortization and non-recurring items (adjusted EBITDA) was SEK 76 million (76), corresponding to an operating margin of 10.9 per cent (11.1)
  • Operating profit before non-recurring items (adjusted EBIT) for the first quarter was SEK 53 million (52), corresponding to 7.6 per cent (7.6)
  • Consolidated profit for the quarter was SEK 33 million (35) and was negatively affected primarily by higher restructuring costs for the quarter compared with the same period in 2015
      

President and CEO Christer Persson comments:
“The world in which we operate and the global economy remain difficult to assess, and forecasts for global growth are constantly under revision. Nevertheless, Kährs Group demonstrated stable growth during the first quarter and profitability continued to improve. In hardwood flooring we saw good growth in the individual core markets Sweden, Germany, the UK and US, and segment Europe as a whole had a growth rate of 14 percent. Our resilient flooring segment, which is driven primarily by the project market, had weaker sales compared to the same period last year, but we see great potential in this business area going forward."
  

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 1,550 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.