Kährs Group: Interim Report April-June 2022

Another strong quarter with increasing sales and profitability

• Net sales totalled SEK 1,094 million, with strong sales in the residential segment where Kährs is growing faster than the market in basically all main markets and continued high growth in the commercial segment
• Operating EBIT totalled SEK 148 million, corresponding to an operating margin of 13.5 per cent
• Cash flow from operating activities totalled SEK 76 million
• The Group was subject to a change of ownership on 31 August 2021, and in connection with the subsequent refinancing, Kährs BondCo AB (publ) became the new parent company in the Group. This report is the second interim report with Kährs BondCo as parent company. Due to this, no comparative figures are available for periods earlier than 31 August 2021
• Kährs has maintained good delivery service during the quarter, despite major general market challenges in the supply of oak and plywood, as an effect of the war in Ukraine. Kährs has decided to, in addition to sanctions, stop all investments as well as import and export flows between Europe and Russia. The company has, through its well-diversified supply structure, redirected all commercial flows between Europe and Russia and secured supply of components to its European factories
   

President and CEO Johan Magnusson comments:
During the quarter, we strengthened our market shares through a strong customer focus. Kährs order backlog has continued to increase during the quarter and is at new record levels. Despite the general challenge of material shortages in the market, we have been able to offer good availability and a high level of service. Kährs’ continued launches of sustainable and innovative flooring solutions have enabled us to continue to grow in all customer and product segments in the majority of Kährs’ main markets in both new construction and renovation.

Our strategic direction is showing strength through continuous improvements in profit. It is Kährs’ loyal and dedicated employees and customers who are making a difference, and I would like to take this opportunity once again to thank everyone for their incredible commitment and drive.
 

For further information, please contact:
Johan Magnusson, President and CEO
Phone: +46 70 540 13 96 
johan.magnusson@kahrs.com
 
Andreas Larsson, CFO 
Phone: +46 70 242 03 65 
andreas.larsson@kahrs.com  
 

Kährs BondCo AB (publ) is a leading manufacturer and distributor of flooring with the aim of providing customer experiences beyond expectations. Kährs’ innovations have shaped the industry throughout its history and the company is dedicated to offering flooring solutions for every room, environment and need. The company delivers sustainable and durable flooring solutions to more than 70 countries, being a market leader in hardwood flooring in Sweden and Finland and having strong positions in other key markets, such as Norway, the UK, US, Germany, and Switzerland. The Group has approximately 1,500 employees and annual sales of SEK 3.8 billion. www.kahrsgroup.com