Dynamo Dresden in collaboration
with Craft Teamwear.
APRIL - JUNE
NET SALES
COSTS AND DEPRECIATION
Net sales amounted to SEK 1,523.2 million, which was 11 % higher
than last year (SEK 1,371.8 million). Exchange rates affected
turnover positively by SEK 23 million, which corresponds to
2 %. The promo sales channel increased by 15 % and retail by 5 %.
External costs increased by SEK 35.1 million and amounted to
SEK -305.1 (-270.0) million. The increase is mainly related to
increased sales and marketing activities. Personnel costs increased
by SEK 27.9 million and amounted to SEK -260.9 (-233.0) million,
which is related to more employees, primarily in sales, warehouses
and customer service.
Net sales in Sweden increased by 10 % and the improvement
occurs in both sales channels. USA was on the same level as last
year. However, exchange rate changes when translated to SEK
decrease net sales while net sales in local currency increased by
2 %. It was mainly the promo sales channel which increased.
Other Nordic countries increased their turnover by 18 % and
the increase occurs in both sales channels. Sales in Central and
Southern Europe have increased by 11 % and 15 % respectively,
and this is primarily related to the promo sales channel. Other
countries increased by 34 %, which is related to our operations in
Asia and the promo sales channel.
Depreciation and write-downs were slightly higher compared to
last year and amounted to SEK -18.5 (-15.8) million.
Exchange rate fluctuations have increased costs by SEK
8.4 million.
OPERATING RESULT
The operating result improved 24 % and amounted to SEK 137.3
(110.4) million. The operating margin increased compared to last
year and amounted to 9.0 (8.0) %, which is attributable to a higher
gross profit margin.
GROSS PROFIT
Gross profit margin increased and amounted to 47.2 (45.6) %.
Improvement takes place in the operating segments Corporate
Promo and Sports & Leisure while Gifts & Home Furnishings has a
slightly lower margin.
NET FINANCIAL ITEMS AND TAXES
Net financial items amounted to SEK -6.3 (-13.1) million and the
improvement is mainly related to lower interest costs.
OTHER OPERATING INCOME AND OTHER
OPERATING EXPENSES
Tax on profit for the period amounted to SEK 24.2 (20.3) million
where the increase is related to the improved result.
Other operating income increased by SEK 4.3 million to
SEK 11.3 (7.0) million. Other operating income is mainly
attributable to operating currency gains but also invoiced expenses
and should be compared to the result row "Other operating
expenses" where mainly operating losses are reported. Other
operating expenses increased by SEK 4.4 million and amounted
to SEK -8.3 (-3.9) million. The net total of above items amounted
to SEK 3.0 (3.1) million.
RESULT FOR THE PERIOD
Result for the period improved by SEK 29.7 million and amounted
to SEK 106.8 (77.1) million. Earnings per share amounted to
SEK 1.60 (1.16).
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