Kosta Boda Art hotel has excellent
conference opportunities. Pictured
below are a few examples.
JANUARY - JUNE
NET SALES
COSTS AND DEPRECIATION
External costs increased by SEK 63.6 million and amounted to
SEK -622.3 (-558.7) million and the increase is attributable to
higher sales and marketing activities. Personnel costs amounted
to SEK -507.3 million which is SEK 46.2 million higher than
last year (SEK -461.1 million). The increase is related to more
employees, primarily in sales, warehouses and customer service.
Net sales amounted to SEK 2,796.0 million, which was 6 %
higher than last year (SEK 2,635.9 million). Exchange rates
have not affected the turnover during the first half of the year.
Of the Group's sales channels, promo increased by 11 % while
retail decreased by 1 %.
Net sales in Sweden increased by 4 % and both sales channels
showed growth. USA decreased by 2 %, which is related to the
change in the exchange rate when converting into SEK. Turnover in
local currency increased by 4 %. Other Nordic countries increased
by 10 % which occurred in the promo sales channel while retail
was in line with last year. Sales in Central and Southern Europe
have increased by 7 % and 12 % respectively, which is related
to the promo sales channel. Other countries increased by 23 %,
which is related to the promo sales channel and the Asian market.
Depreciation and write-downs were higher compared to last
year and amounted to SEK -36.1 (-30.7) million. The increase is
primarily related to investments in new and existing buildings as
well as IT investments.
Exchange rate fluctuations have increased costs by SEK 3.1
million.
OPERATING RESULT
GROSS PROFIT
The operating result increased somewhat and amounted to SEK
155.9 (153.7) million. The operating margin amounted to 5.5
(5.8) %, where the slightly lower margin is attributable to the cost
increases associated with increased sales and marketing activities.
The gross profit margin improved compared with last year and
amounted to 47.0 (45.4) %. It is mainly the segment Sport & Leisure
that increased its margin but also Corporate Promo increased.
Gifts & Home Furnishings has a slightly lower margin. The Group
has a well-balanced stock and a good level of service.
NET FINANCIAL ITEMS AND TAXES
Net financial items improved by SEK 9.0 million compared
to last year and amounted to SEK -16.6 (-25.6) million. The
improvement is related to lower interest costs.
OTHER OPERATING INCOME AND OTHER
OPERATING EXPENSES
Other operating income increased by SEK 9.3 million to SEK
27.2 (17.9) million. Other operating income is mainly attributable to
operating currency gains but also other remunerations and should
be compared to the result row "Other operating expenses" where
mainly operating losses are reported. Other operating expenses
increased by SEK 8.4 million and amounted to SEK -20.1 (-11.7)
million. The net total of above items amounted to SEK 7.1 (6.2)
million.
Tax on result for the period amounted to SEK -26.6 (-26.1) million.
RESULT FOR THE PERIOD
Result for the period amounted to SEK 112.7 (101.9) million and
earnings per share amounted to SEK 1.70 (1.55).
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