Clique AW18
JULY - SEPTEMBER
COSTS AND DEPRECIATION
NET SALES
The Group decided earlier to increase its service level and make the
distribution centers more efficient in a number of countries. This,
together with higher activities in sales and marketing, increased
the costs. The increase is planned and will also affect the coming
quarters.
Net sales amounted to SEK 1,551.2 million, which was
17 % higher than last year (SEK 1,331.1 million). Exchange
rates affected turnover positively by SEK 97.2 million, which
corresponds to 8 %.
Net sales in Sweden increased by 3 % and the improvement occur
in the retail sales channel. USA increased by 14 %. Exchange
rate changes when translated to SEK increased net sales while
net sales in local currency increased by 4 %. It was mainly the
promo sales channel which increased. Other Nordic countries
increased their turnover by 9 % and the increase occurs primarily
in the promo sales channel. Sales in Central and Southern Europe
have increased by 20 % and 13 % respectively, which is related to
both sales channels. Exchange rate changes when translated to
SEK had a positive impact, and net sales in local currency increased
by 11 % and 4 %. Other countries increased by 81 %, which is
related to our operations in Asia and Canada. The increase was
related to the promo sales channel.
External costs increased by SEK 58.1 million and amounted to
SEK -323.5 (-265.4) million. The increase was mainly related
to the above mentioned activities. Personnel costs increased by
SEK 40.6 million and amounted to SEK -257.7 (-217.1) million,
which is related to more employees, primarily in sales, distribution
centers and customer service. Exchange rate fluctuations have
increased costs by SEK 37.3 million.
Depreciation and write-downs were slightly higher compared to
last year and amounted to SEK -20.2 (-16.4) million.
OPERATING RESULT
Operating result decreased by SEK 25.5 million and amounted
to SEK 117.5 (143.0) million. The operating margin decreased as
well in comparison to last year and amounted to 7.6 (10.7) %.
The decrease was related to costs in connection with our planned
increase in marketing activities.
GROSS PROFIT
Gross profit margin decreased and amounted to 46.1 (47.9) %.
The lower margin is related to the operating segment Corporate
Promo. Sports & Leisure is on the same level while Gifts & Home
Furnishings has a slightly higher margin.
NET FINANCIAL ITEMS AND TAXES
OTHER OPERATING INCOME AND OTHER
OPERATING EXPENSES
Net financial items amounted to SEK -11.6 (-13.2) million and the
improvement is related to lower interest costs.
Other operating income increased by SEK 8.9 million to
SEK 19.3 (10.4) million. Other operating income is mainly
attributable to operating currency gains but also other remunera-
tions and should be compared to the result row "Other operating
expenses" where mainly operating currency losses are reported.
Other operating expenses increased by SEK 7.6 million and
amounted to SEK -15.0 (-7.4) million. The net total of above items
amounted to SEK 4.3 (3.0) million.
Tax on profit for the period amounted to SEK 17.5 (24.5) million
where the decrease is related to the lower result.
RESULT FOR THE PERIOD
Result for the period amounted to SEK 88.4 (105.3) million.
Earnings per share amounted to SEK 1.36 (1.60).
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