BJÖRN BORG AB INTERIM REPORT JANUARY – JUNE 2011
Borg and McEnroe in a new match
APRIL 1 – JUNE 30, 2011
• The Group’s net sales increased by 1 percent to SEK 101.9 million (100.8). Excluding currency effects, sales rose by 11 percent.
• The gross profit margin decreased to 53.3 percent (55.1). The decrease is attributable to the operations of Björn Borg Sport.
• Operating profit amounted to SEK 8.2 million (13.9), a decrease of 41 percent. Investments in Björn Borg Sport and the British operations have reduced operating profit by SEK 4.7 million.
• Profit after tax amounted to SEK 6.5 million (10.8), a decrease of 40 percent.
• Earnings per share decreased to SEK 0.33 (0.43). Fully diluted earnings per share amounted to SEK 0.33 (0.42), a decrease of 21 percent.
• Brand sales (excluding VAT) decreased by 3 percent excluding currency effects. At current exchange rates, sales decreased by 7 percent to SEK 315 million (338).
JANUARY 1 – JUNE 30, 2011
• The Group’s net sales increased by 2 percent to SEK 253.3 million (249.1). Excluding currency effects, sales rose by 8 percent.
• The gross profit margin decreased to 51.6 percent (53.0). The decrease is attributable to the operations of Björn Borg Sport.
• Operating profit amounted to SEK 36.6 million (50.0), a decrease of 27 percent. Investments in Björn Borg Sport and the British operations have reduced operating profit by SEK 8.5 million.
• Profit after tax amounted to SEK 27.1 million (36.5), a decrease of 26 percent.
• Earnings per share decreased to SEK 1.22 (1.45). Fully diluted earnings per share amounted to SEK 1.21 (1.43), a decrease of 15 percent.
• Brand sales (excluding VAT) decreased by 1 percent excluding currency effects. At current exchange rates, sales decreased by 7 percent to SEK 746 million (798).
QUOTE FROM THE CEO
“Sales excluding currency effects rose by 11 percent. Several of our new markets have developed strongly. Operating profit excluding the impact of our investments in Björn Borg Sport and in England was SEK 12.9 million compared with SEK 13.9 million in 2010, which is satisfactory given current market conditions. During the summer a highly publicized campaign, BjörnLovesJohn, was launched as an element in our branding work,” said CEO Arthur Engel.
For further information, please contact:
Arthur Engel, President and CEO, telephone +46 8 506 33 700
Magnus Teeling, CFO, telephone +46 8 506 33 700
Björn Borg is required to make public the information in this report in accordance with the Securities Market Act.
The information was released for publication on August 23, 2011 at 7:30 am (CET).
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