Sales for kitchen company nobia increased during the fourth quarter 2006 by 23 per cent to SeK 4,056 million (3,291), at the same time as operating profit rose by 23 per cent to SeK 347 million (281). For the full year, sales increased by 25 per cent to SeK 15,590 million (12,442). Organic growth amounted to 11 per cent in 2006. earnings per share increased by 34 per cent and amounted to SeK 14.78 (11.01). the operating margin strengthened to 8.5 per cent (8.0) and operating profit rose to SeK 1,327 million (993).
The improvement in operating profit for the year was the result of increased sales in all regions due to high levels of demand, continued market ventures and the acquisition of French company Hygena.
During the fourth quarter, structural measures were made in all three regions with the aim of enhancing integration and strengthening competitiveness.
The Board proposes an increase in dividend to SEK 6.00 (3.50) and intends to propose a 3 to 1 split to the Annual General Meeting.
Comments from the CEO:
"Growth continued during the fourth quarter. Hygena has continued to provide a positive contribution to earnings per share. We are furthering our work with strengthening our internal efficiency," says President and CEO Fredrik Cappelen.
The full report with tables can be downloaded from the following link:
Nobia develops and sells kitchen solutions through a number of strong brands in Europe, including Magnet in the UK; HTH, Norema, Sigdal, Invita and Marbodal in Scandinavia; Petra and A la Carte in Finland; as well as ewe, Intuo and FM in Austria. Nobia generates profitability by combining economies of scale with attractive kitchen offerings. The Group has approximately 6,100 employees and had net sales of about SEK 13 billion. The share is listed on Nasdaq Stockholm under the ticker NOBI. Website: www.nobia.com