Interim report for New Wave Group AB (publ) - JANUARY–SEPTEMBER 2011

1 JULY – 30 SEPTEMBER, 2011

• Sales turnover amounted to SEK 1,101 million, which was 7% better than last year in local currencies and 4% better in
  SEK (SEK 1,061 million).
• Acquired unit Ahead contributed by SEK 33 million in turnover and SEK -2 million in profit before tax.
• Operating profit amounted to SEK 106.2 million (SEK 84.7 million).
• Profit after tax amounted to SEK 73.4 million (SEK 55.5 million).
• Earnings per share amounted to SEK 1.10 (SEK 0.83).
• Cash flow from operating activities amounted to SEK -100.0 million (SEK -41.5 million).
• Equity ratio amounted 41.3% (42.4%).
• Net debt to equity ratio amounted 93.9% (87.9%).
  
  

1 JANUARY-30 SEPTEMBER, 2011

• Sales turnover amounted to SEK 3,049 million, which was 6 % higher than last year in local currencies and slightly higher than last year in SEK (SEK 3,041 million).
• Acquired unit Ahead contributed by SEK 33 million in turnover and SEK -2 million in profit before tax.
• Operating profit amounted to SEK 196.6 million (SEK 189.5 million).
• Non-recurring items amounted to SEK -30.5 million before tax.
• Profit after tax amounted to SEK 116.4 million (SEK 122.5 million).
• Earnings per share amounted to SEK 1.73 (SEK 1.84).
• Cash flow from operating activities amounted to SEK -216.4 million (SEK 141.4 million).

VIEWS ON 2011
For 2011 we expect a higher sales turnover and a somewhat better result than the 2010 outcome.

Incoming deliveries will be moved forward since the Chinese New Year comes early this year, which means that our stock levels will be higher than normal at the end of the financial year.

 
CEO Comments

The third quarter turned out more or less as we had expected. European promo sales are strong, except in Southern Europe where we are facing a very tough market.

We were expecting retail to be a bit more difficult before we entered this quarter, but what worries me right now is not the economic situation but the weather. We need snow and cold weather to get the sports trading business started! On the other hand, it doesn’t really matter anyway since you have to work more long-term, but I’m in more need of an accurate weatherman than a macro economist.

I am very pleased that our stock value is back to normal and that we can provide better service for our customers.

We have good control of costs and gross profit, so even if the economic situation and the weather are both proving hard to assess I feel carefully optimistic in regards to the rest of the year.

Torsten Jansson
 

FOR MORE INFORMATION, PLEASE CONTACT:

CEO Torsten Jansson
Telephone: +46 31 712 89 01
E-mail: torsten.jansson@nwg.se

deputy CEO Rolf Karp
Telephone: +46 31 712 89 05
E-mail: rolf.karp@nwg.se

CFO Lars Jönsson
Telephone: +46 31 712 89 12
E-mail: lars.jonsson@nwg.se

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 11 November, 2011.

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