NWG // 2020
13 %
36 %
Net sales per operating segment
36 %
Corporate Sports & Leisure
Net sales per sales channel
51 %
Gifts & Home Furnishings
Promo Retail
64 %
Dividend In light of the ongoing pandemic and its difficult-to-assess consequences in 2021 , the Board has decided to propose to the AGM that no dividend shall be paid . The Group has a strong financial position and there are good opportunities for a dividend during the latter part of 2021 and the Board will return at the latest in the interim report for the third quarter , which is scheduled to be published on November 5 2021 , with proposal on when a resumption of dividend can take place .
2020
N e w
2020 in summary
COVID-19 did not only affect through reduced demand due to cancelled events , sport competitions , conferences and other corporate activities as well as problems in the business world generally , but also the fact that we were forced to close down some of our warehouses . The worst hit was initially in Italy , where our company is located in Codogno and also where the COVID-19 outbreak started in the country . Their warehouse was largely closed throughout the month of March but it was very different for different countries and companies . Also our US companies were hit hard and during the second quarter they had a decrease of 62 % and several of our companies in the US were shut down for about a month and a half . However , our trading business reported a very good result during this period and showed good growth . Demand for the Group ’ s products and
W a v e
G r o u p
Net sales amounted to SEK 6,098.8 million , which was 12 % ( 10 % excluding currency change ) lower compared to the previous year . The lower net sales were related to the COVID-19 crisis that hit us with full force in March and several of our companies were hit very hard . All regions were negatively affected and several of our companies were closed down in different periods during the spring . Both sales channels decreased in comparison with prior year .
services continued to be lower than the previous year also during the following quarters . A slight recovery occurred though and Sweden and Other countries experienced growth in net sales while the US , where the Group has large operations , was still the region most affected by the pandemic .
Corporate decreased net sales by 4 %. In the Corporate segment , sales have been primarily affected by cancelled events , conferences and other corporate activities , reducing the demand for promo products . However , the Group has increased the share of trading orders , which has increased both net sales and operating result during the year . Major cost-cutting measures have been implemented at the same time as capital tied up in stock has been adjusted to the lower sales volume .
# Net sales amounted to SEK 6,098.8 million , which was 12 % ( 10 % in local currencies ) lower than last year ( SEK 6,903.5 million ). |
# Operating result amounted to SEK 545.9 ( 535.0 ) million .
# Result for the period amounted to SEK 363.0 ( 370.1 ) million .
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# Earnings per share amounted to SEK 5.51 ( 5.66 ).
# Cash flow from operating activities amounted to SEK 1,206.6 ( 99.5 ) million .
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# Equity ratio amounted to 53.4 ( 44.9 ) %.
# Net debt to equity ratio amounted to 47.1 ( 78.6 ) %
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ANNUAL REPORT // 005 |