Half year report. KappAhl goes against the trend:Increased sales and gross margin on a weak market

Q2 (Dec-Feb) Half year (Sep-Feb)
2012/2013 2011/2012 Change 2012/2013 2011/2012 Change
Net sales, SEK million 1 148 1 119 29 2 393 2 312 81
Operating profit excluding non-recurring items, SEK million -35 -55 20 69 -39 108
Operating profit, SEK million -36 -138 102 145 -122 267
Gross profit margin, % 55,1 51,9 3,2 59,3 55,3 4,0
Operating margin excluding non-recurring items, % -3,1 -4,9 1,8 2,9 -1,7 4,6
Profit after tax, SEK million -64 -163 99 51 -174 225
Earnings per share, SEK -0.85 -7,14 6,29 0,82 -3,55 4,37
Cash flow from operating activities, SEK million -51 68 -119 24 63 -39

  • Net sales increased by 2.6 per cent for the quarter. Of this, the increase in comparable stores was 0.3 per cent.
  • The gross margin improved by 3.2 percentage points.
  • The equity /assets ratio increased to 45.6 per cent.

It is gratifying that KappAhl is reporting positive sales in comparable stores and a substantially improved gross margin. I see this as a confirmation of continued improvements of our assortment and customer offer…
Johan Åberg, President and CEO. Read the full CEO statement in the attached report.

A presentation and telephone conference will be held for analysts, media and investors today at 9.30 at Operaterrassen in Stockholm. P lease go to www.kappahl.com/presentations to register attendance. At the website a webcast will also be shown in real time and saved for later viewing. To participate by telephone please call about 5 minutes before start +44 (0)207 7509950.

For further information:
Johan Åberg / President and CEO, tel. + 46 706 099 973
Håkan Westin / CFO, tel. + 46 704 715 664

For pictures and other information:
Charlotte Högberg / Head Public Relations, tel. +46 704 715 631, charlotte.hogberg@kappahl.com

The information in this interim report is disclosed by KappAhl AB (publ) pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 12 April 2013 at 07.30 am.

KappAhl was established in 1953 and is a leading fashion chain soon with 400 stores and 4,500 employees in Sweden, Norway, Finland, Poland and the Czech Republic. KappAhl sells value-for-money fashion with a wide appeal – to women, men and children – and focuses in particular on women aged 30-50 with families. All clothes are from our own designers. KappAhl was the first fashion chain to achieve environmental certification in 1999. In the 2011/2012 financial year KappAhl's net sales were SEK 4.6 billion. KappAhl is listed on NASDAQ OMX Stockholm.  More information can be found at www.kappahl.com.

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About Us

KappAhl was founded in Gothenburg in 1953 and is a leading fashion chain in the Nordic region with close to 400 stores in Sweden, Norway, Finland and Poland. Our business idea is to offer value-for-money fashion of our own design to women in the prime of life and their family. Sustainability-labeled fashion accounts for 38 per cent of the range. Sales for 2015/2016 totaled SEK 4.7 billion and the company has approx. 4,000 employees in eight countries. KappAhl is quoted on Nasdaq Stockholm. More information is available at www.kappahl.com

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It is gratifying that KappAhl is reporting positive sales in comparable stores and a substantially improved gross margin. I see this as a confirmation of continued improvements of our assortment and customer offer
Johan Åberg, President and CEO KappAhl