Interim Report for New Wave Group AB JANUARY–SEPTEMBER 2014


  • Sales amounted to SEK 1,122 million, which was 8 % higher than last year (SEK 1,035 million).
  • Operating profit amounted to SEK 95.7 (92.8) million.
  • Result for the period amounted to SEK 66.9 (57.8) million.
  • Earnings per share amounted to SEK 1.01 (0.87).
  • Cash flow from operating activities amounted to SEK -290.7 (-2.5) million.


  • Sales amounted to SEK 3,014 million, which was 4 % higher than last year (SEK 2,908 million).
  • Acquired units contributed by SEK 14 million in turnover and SEK -1.2 million in result for the period.
  • Operating profit amounted to SEK137.8 (179.1) million.
  • Result for the period amounted to SEK 85.0 (96.8) million.
  • Earnings per share amounted to SEK 1.28 (1.47) kr.
  • Cash flow from operating activities amounted to SEK -229.6 (145.4) million.
  • Equity ratio amounted to 45.9 (46.4) %.
  • Net debt to equity amounted to 76.0 (73.7) %.


For the first time in a few years I can now say that all our actions are starting to bite. Sales for the quarter increased by 8% and the Corporate Promo segment by 15%. We now have stock, we have renewed our products and my assessment is that we are extremely well positioned for even more growth! Even Sports & Leisure has a good growth of 8%. We are not happy with a drop in Gifts & Home Furnishings, but at the same time, it has been part of the plan to reduce the range to focus on higher margin products which gives a certain turnover reduction.

Despite all the investments we are making for growth, thereby increasing our costs, we still increased operating income during the quarter by SEK 2.0 million and net income by SEK 9.1 million - which I am for the period, happy with.

Accumulated sales increased by 4%, which was the result of a poor first half year - but thanks to a much better third quarter. I’m obviously not happy with the accumulated result for the first nine months - but now it is heading in the right direction again!

During the quarter we launched several new product lines with a fantastic response! The best are J. Harvest & Frost, an exclusive shirt brand as well as a new sweatshirt program under the Clique brand name. Many customers have already returned to the Corporate Promo market and I’m convinced, and know that more are doing it every week.

Remains incredibly strong and we feel very confident with our expansion possibilities. Equity of more than SEK 2,200 million is a new record and an equity ratio of 46% is well above our target.

The fourth quarter in regards to sales has started even stronger than the third quarter. Craft, Seger and Speedo are all going strong. We have considerable hope for Cutter & Buck, and all profile companies are armed to the teeth! We also believe that Gifts & Home Furnishings can have a relatively strong quarter. However, uncertainty is always great in this quarter, as we need both a little cold weather and a good Christmas season. I anticipate good growth for the quarter.

Within Sports & Leisure, Craft, Seger and Speedo will certainly continue to grow! Craft is now launching several exciting new products whereby we will be able to maintain a high growth!
We also have high hopes for all companies in the United States.

Gifts & Home Furnishings will be stable with continued focus on result improvements, but we also hope for mild growth.

Corporate Promo will almost certainly be lifted significantly in 2015. We have made successful launches in the third quarter 2014, and will do so in all the Nordic markets. To begin with, two additional major investments will be made during the first quarter of 2015 with an impact on sales and profits from March onwards. For competitive reasons, I don’t want to reveal what they are, but one of the launches is the largest and most important that we have done in over 10 years! I’m completely convinced that we will have very good growth in 2015. As for the whole of our Corporate Promo clothing program, I jokingly say that I would not like to be in our competitor’s clothes! I will elaborate on this in the annual communiqué.

Our aims are to open a new larger warehouse in Canada, primarily within Corporate Promo and to make a powerful attack on the German market and also here with a new and larger warehouse.
Furthermore, Auclair will be launched in Europe, starting in Sweden. Finally, we will try to create rapid growth for Craft in Germany and North America. Crafts efforts in Germany is a continuation of the offensive we launched in 2014 and in North America our offensive will be launched in the third quarter of 2015!

Finally, I feel a greater optimism than I have had in many, many years!
Our organisation and I have not had as much faith in the future since before the financial crisis of 2008!
Now it’s full speed ahead!

CEO New Wave Group


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 12 November 2014.


About Us

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