New Wave Group is one of eight companies that received full marks - six
points out of six possible - when Dagens Industri, Aktuell Hållbarhet and
the School of Economics and Management at Lund University ranked how
over 170 listed companies related to Agenda 2030 and the UN Global
Goals for Sustainable Development.
JULY - SEPTEMBER
NET SALES
Net sales amounted to SEK 1,685.5 million, which was 9 %
higher than the previous year (SEK 1,551.2 million). Exchange
rate effects had a positive impact on sales of SEK 54.3 million,
corresponding to 4 %.
SEK 33.1 million. Excluding the effects of the new standard, costs
increased, which is related to exchange rate changes. Personnel
costs increased by SEK 21.0 million and amounted to SEK -278.7
(-257.7) million. In addition to an increase due to exchange rate
fluctuations, the Group has more employees in primarily ware-
housing and sales, but also in areas such as marketing, product
development and customer service.
Net sales in Sweden increased by 9 %. Retail increased while promo
decreased. The US increased by 10 % and both sales channels
improved. The exchange rate change when translated to SEK had
a positive impact on sales and sales in local currency increased
by 3 %. The Nordic region excluding Sweden had growth of 6 %
and both sales channels increased. Sales in Central Europe have
increased by 3 %, which is related to promo. Southern Europe
increased by 15 % and also here the promo sales channel improved.
Both regions were positively affected by exchange rate changes and
sales in local currencies improved by 1 % and 13 %, respectively.
Other countries increased by 9 %, which is related to the opera-
tions in Canada and Asia and the promo sales channel.
Exchange rate changes have increased the above costs by
SEK 21.9 million.
However, the Group's costs as a proportion of sales have decreased
slightly (also excluding IFRS 16), which applies to both external
costs and personnel costs.
Amortizations, depreciations and write-downs were higher
compared to last year and amounted to SEK -55.7 (-20.2) million.
The increase is primarily a result of IFRS 16, which affected
depreciations by SEK -30.9 million.
GROSS PROFIT
The gross profit margin was slightly lower than the previous year and
amounted to 45.2 (46.1 ) %. Sports & Leisure as well as Gifts & Home
Furnishings had a slightly lower margin while Corporate improved
their margin compared to last year.
OPERATING RESULT
Operating result improved by SEK 11.6 million and amounted
to SEK 129.1 (117.5) million. The operating margin was
slightly higher compared to the previous year and amounted to
7.7 (7.6) %.
OTHER OPERATING INCOME AND OTHER
OPERATING EXPENSES
NET FINANCIAL ITEMS AND TAX
Other operating income decreased by SEK 6.4 million to SEK
12.9 (19.3) million. Other operating income is mainly attributable
to the operating currency gains, but also other remunerations and
should be compared to the result row Other operating expenses,
where primarily the operating currency losses are reported. Other
operating expenses decreased by SEK 3.7 million and amounted
to SEK -11.3 (-15.0) million. The net of the above items amounted
to SEK 1.6 (4.3) million.
Net financial items amounted to SEK -17.0 (-11.6) million.
Accounting in accordance with IFRS 16 affected financial
expenses by SEK -4.9 million. The Group's net debt has increased,
which has also contributed to higher interest costs.
The tax expense for the period is on a par with the previous year
and amounted to SEK -17.6 (-17.5) million.
RESULT FOR THE PERIOD
COSTS AND DEPRECIATIONS
Result for the period amounted to SEK 94.4 (88.4) million and
earnings per share amounted to SEK 1.45 (1.36).
External expenses decreased by SEK 23.2 million and amounted
to SEK -300.3 (-323.5) million. The decrease is related to the
new accounting standard IFRS 16, which reduced costs by
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