Kährs Group report increased sales and improved profitability during the third quarter of 2014
Third quarter 2014 in brief
- Net sales amounted to 627 MSEK (584), an increase of 43 MSEK or 7% compared with the same period last year
- The operating profit excluding depreciation and non-recurring items (adjusted EBITDA) in Q3 amounted to 64 MSEK (50) or 10.2% (8.6)
- The operating profit excluding non-recurring items (adjusted EBIT) in the third quarter amounted to 41 MSEK (24) or 6.5% (4.1)
- The profit for the period amounted to 13 MSEK (-5). The reason for the improved profit is mainly higher sales and improved EBIT
- The net debt of the Group per 30 September 2014 amounted to 834 MSEK including a financial lease of 116 MSEK
- In the beginning of July, a total of 90 MSEK of the remaining shareholder loans to Nanna II S.C.A. in Luxembourg, was repaid
President and CEO Christer Persson comments:
“Kährs Group continues to grow and recorded increased sales by 7% for the third quarter and increased operating profit excluding depreciation and non-recurring items (adjusted EBITDA) by 28% compared with the same period the previous year. The improvement is primarily related to higher net sales within the Hardwood flooring segment and flooring accessories from Other sales, which increased by 8% and 20% respectively during the quarter. The Swedish and North American markets have contributed to the positive improvement with strong underlying sales development during the quarter.
During September and October we have launched a number of new products within both hardwood and resilient flooring which have been received very positively on the market. From the new design line in Nybro, a new collection of high end designed 1-strip flooring has been launched and from the Finnish factory in Ikaalinen, we launched the new homogenous PVC-free resilient flooring."
For further information, please contact:
Christer Persson, President and CEO, Phone: +46 70 271 2014
Peter Ericsson, CFO, Phone: +46 70 461 1039
About Kährs Holding AB (publ)
Kährs Holding AB (publ) is a world leading wood and resilient flooring manufacturer 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 deliver products to more than 50 countries and have a market leading position in Sweden, Finland, Norway and Russia as well as a strong position in other important markets such as the UK and Germany. The Group employs approximately 1,600 people and has yearly sales of around 300 MEUR.