NINE MONTH REPORT
Restored inventory and reduced costs
| Quarter 3 (March-May) | Change | Nine months (Sep-May) | Change | |||
| 2011/2012 | 2010/2011 | 2011/2012 | 2010/2011 | |||
| Net sales, SEK million | 1 146 | 1 237 | -91 | 3 458 | 3 766 | -308 |
| Operating profit excluding non-recurring costs, SEK million | 46 | 57 | -11 | 7 | 219 | -212 |
| Operating profit/loss, SEK million | 29 | 57 | -28 | -93 | 219 | -312 |
| Gross profit margin, % | 59,1 | 60,1 | 56,5 | 60,4 | ||
| Operating margin, % | 2,5 | 4,6 | -2,7 | 5,8 | ||
| Profit after tax, SEK million | -10 | 26 | -36 | -184 | 122 | -306 |
| Earnings per share, SEK (Note 1) | -0,04 | 0,25 | -1,23 | 0,74 | ||
| Cash flow from operating activities, SEK million | 117 | 144 | -27 | 180 | 192 | -12 |
- Net sales decreased by 7.4 per cent for the quarter and 8.2 per cent for the nine month period.
- Costs decreased by 5.7 per cent for the quarter and 4.4 per cent for the nine month period.
- Inventories are back at a satisfactory level, both as regards size and composition.
- Non-recurring costs in the quarter consisting of provision for bonus rewards, Note 2.
“We have succeeded in achieving a good composition of our inventories. This was a priority task and the present normal inventory level will benefit us in future. (…) We are looking forward to the autumn. We will then see further results of our action plan.”
Johan Åberg, President and CEO. Read the full CEO statement in the enclosed report.
A telephone conference will be held for analysts, media and investors today at 9.00 CET. To participate by telephone please call +44 (0)207 750 99 50 about 5 minutes before the start. The telephone conference can also be followed via a webcast on www.kappahl.com/presentations, where the broadcast will be saved for viewing later.
The information in this interim report is disclosed by KappAhl AB (publ) pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 29 June 2012 at 07.30 a.m.
For further information:
Johan Åberg / President and CEO, tel. 0706-09 99 73
Håkan Westin, CFO, tel. 0704-71 56 64
For pictures and other information:
Annette Björklund / Head of public relations, tel. +46 704 71 55 42, annette.bjorklund@kappahl.com
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