Interim report for New Wave Group AB

1 JANUARY – 31 MARCH 2013

  • Turnover amounted to SEK 877 million, which was SEK 98 million lower than last year (SEK 975 million).
  • Operating profit amounted to SEK 16.1 (2.6) million.
  • Profit after tax amounted to SEK 0.1 (-8.2) million.
  • Earnings per share amounted to SEK 0.00 (-0.13).
  • Cash flow from operating activities improved by SEK 61.1 million and amounted to SEK 106.1 (45.0) million.
  • Equity ratio amounted to 46.0 (44.2) %.
  • Net debt to equity ratio amounted to 73.4 (83.8) %.

CEO Comments

Market conditions and sales
The market in the first quarter was, if possible, even harder than I thought – although I was pretty realistic about not believing in any quick turnaround in my last CEO comments. The quarter is also difficult to assess because of a relatively large calendar effect and an extreme late spring. Sales declined, measured in local currencies, by 7%, which on the one hand I think is really bad but at the same time hope and believe much of this is a calendar effect and to a certain degree weather effects.

Thanks to good cost control and relatively strong gross profit, we still have a fully acceptable result for the quarter. Improvement is related to the operating segment Gifts & Home Furnishings, where last year’s corrective measures for Orrefors Kosta Boda looks to give the desired effects.

Cash flow and working capital
Cash flow remains well under control and significantly better than last year, leading to lower net debt. I am very pleased with our balance sheet, although we will endeavor to strengthen it further.

We expect a continued tough and difficult market in the second quarter and maybe throughout the year. We have not seen any signs of a turn-around in the first quarter, but rather in this case, a certain deterioration. We are, however, urged on by prioritizing results and further strengthen our balance sheet, and on these points, we are ready to achieve a decent year – if only the market does not deteriorate further. Obviously, I hope the market rebounds – but it’s not something we even dare to count on.

Torsten Jansson


CEO Torsten Jansson
Phone: 031–712 89 01

CFO Lars Jönsson
Phone: 031–712 89 12

The information in this report is that which New Wave Group is required to disclose under the Securities Exchange and Clearing Operations Act and/or the Financial Trading Act. The information was released for publication at 7 am (CET) on 25 April, 2013.

About Us

New Wave Group is a clothing company concentrating on sportswear and casual clothes.