”
"It was the 20th consecutive
quarter of organic growth, which
shows that our investments are
delivering results."
CEO COMMENTS
APRIL - JUNE
I continue to be very satisfied with our sales growth. An increase
of 11% (6% in local currencies) is good, not least given that we had
a certain negative calendar effect and at the same time compared
to the same quarter last year which increased by 11%. It was the
20th consecutive quarter of organic growth, which shows that
our investments are delivering results. In addition, we grew in
both sales channels and all segments, which provides security in
itself. Extra pleasing is that we have an 18% growth in the retail
sales channel and not least Craft is developing very strongly here.
Promo also shows good growth with 7%. The result for the quarter
is burdened by increased costs that are mainly related to market
activities within team and infrastructure. The gross profit margin
remains strong.
THE FUTURE
Also in this quarter, we have managed to create growth. The
growth comes from our investments in market and sales. Not least
Craft as a brand and the investment we have made on teams and
clubs is developing well. We already have agreements with several
national teams within a number of different sports and also large
well-known clubs in several countries. Continued sales growth
will be in focus but we expect to gradually increase the operating
margin in the upcoming years.
JANUARY - JUNE
Sales growth was 14% for the first half of the year (8% in local
currencies). The operating result is just over the previous year and
the result for the period is slightly lower. Our major investments
in teams continue and also expansion of our distribution units for
further growth. Together, these two items account for the majority
of the increase in external costs. We continue to strengthen our
sales organization and, as an example, 27 people out of the total
increase of 39 employees are within sales. I see it as an investment
that will yield return going forward.
I still look very positively on the future!
BALANCE SHEET
We still have a solid equity ratio of 44.7%, which feels very secure.
The stock is under good control and we are well equipped to
continue our growth.
Torsten Jansson, CEO
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