"Net sales reached an all-time
high for a third quarter and it was
the 21st quarter in a row with
sales growth."
CEO COMMENTS
JULY - SEPTEMBER
We now have another strong quarter behind us. Net sales increased
by 9 % (5 % in local currencies) and amounted to SEK 1,685.5
million.
The sales channel promo increased by 7 %. At the beginning of the
quarter we experienced a slowdown in demand which recovered
at the end of the quarter. Retail increased by 11 %, which feels
very good. Given everything that is written about the retail trade,
e-commerce and so on, I would like to point out once again that we
are growing with our customers on e-commerce and that e-com-
merce generally gives us new opportunities and is not a threat. Net
sales reached an all-time high for a third quarter and it was the
21st quarter in a row with sales growth. Expenses increased during
the quarter at a slower pace than previous quarters (excluding
IFRS 16).
Net sales increased by SEK 1,865.2 million from SEK 3,014.1
million to SEK 4,879.3 million and all quarters have had growth.
At the same time, operating result increased by SEK 156.8 million
from SEK 137.8 million to SEK 294.6 million and result for the
period by SEK 119.1 million from SEK 85.0 million to SEK 204.1
million. Sales increased by 62 %, operating result by 114 % and
result for the period by 140 %. Despite annual dividends, we have
increased equity by SEK 1,514 million and kept the equity ratio
almost intact. The return on equity has increased from 5.3 % to
7.6 % and on capital employed from 4.9 % to 6.3 %. The number
of employees has increased by 18.6 % or 406 persons to 2,592
persons. This is a development we feel proud of!
Operating result increased by 10 % to SEK 129.1 million and
result for the period by 7 % to SEK 94.4 million.
JANUARY - SEPTEMBER
THE FUTURE
Net sales increased by 12 % (7 % in local currencies) and amounted
to SEK 4,879.3 million, which is also an all-time high. Operating
result increased by 8 % and amounted to SEK 294.6 million. The
result increased by 1.5 % and amounted to SEK 204.1 million.
We stand strong going forward! We want to continue growing
and we will grow even in 2020 – but we are changing the focus
somewhat. Our main focus for 2020 is to increase the operating
margin and to simultaneously strengthen the balance sheet further
by focusing on a good cash flow.
BALANCE SHEET
We maintain a strong balance sheet with equity of SEK 3,736.3
million and an equity ratio of 44 %, which gives us good security
going forward. We will now try to keep stock increases at a lower
rate than sales increases, which we should achieve. Remember
however, that closing inventory value always reflects what we
believe about sales ahead, not what we sold for in the past.
I look with great delight and confidence on the future!
Finally, thank you to all employees, customers, shareholders,
consumers and others who make this possible!
IN A LONGER PERSPECTIVE...
We are proud of the developments in recent years! Companies and
brands are not built in a day, month, quarter or even in a year, so
how was our third quarter report 5 years ago?
Torsten Jansson, CEO
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