Interim Report New Wave Group AB (publ) January – March, 2011
1 January – 31 March, 2011
- Sales turnover amounted to SEK 928 million, which was 8% better than last year in local currencies and 1% better in SEK (SEK 915 million).
- Operating profit amounted to SEK 17.7 million (SEK 16.9 million).
- Profit after tax amounted to SEK 5.7 million (SEK 7.6 million).
- Earnings per share amounted to SEK 0.08 (SEK 0.11).
- Cash flow from operating activities amounted to SEK -142.6 million (SEK 65.4 million).
- Equity ratio amounted 44.0% (41.5%).
- Net debt to equity ratio amounted 81.1% (93.8%).
VIEWS ON 2011
For 2011 we expect a higher sales turnover and better result than the 2010 outcome.
On the whole, the year has started more or less as we expected. We had perhaps expected somewhat better Sports & Leisure sales. Quite likely the extremely good winter sales from last quarter backlashed a bit as spring sales got a slow start due to the long winter. The lower Sports & Leisure result was expected as we also made major market investments with Craft in the quarter, i.a. the cross country World Championships in Oslo, Norway and professional cycling team Leopard, so for the full year I feel confident that the business area will develop well. The Corporate Promo business area is strong and developing nicely and we expect this to continue. Our stock levels are starting to reach the levels we would like and the delivery situation is getting better again. We estimate that this will be a strong year for promo. Our continued challenge is Gifts & Home Furnishings, primarily Orrefors Kosta Boda where we are investigating further actions to reach an acceptable improvement of the result.
Altogether, I think 2011 will be a good year, even if the retail business seems to be a bit weaker now than before.
Do you want to know what I do in my spare time? Then I recommend you buy my cook book, Skaldjur med Torsten Jansson (Seafood with Torsten Jansson), just published by the Group’s own publishing company.
FOR MORE INFORMATION, PLEASE CONTACT:
CEO Torsten Jansson
Phone: +46 (0)31 712 89 01
CFO Lars Jönsson
Phone: +46 (0)31–712 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. It was released for publication at 7 am (CET) on 27 April, 2011.