New Wave Group Annual Report 2022 NWG_Annual_Report_2022_EN | Page 65

NWG // FINANCIAL INFORMATION
Net sales
Net sales amounted to SEK 8,843.6 million , which was 32 % higher than the previous year ( SEK 6,718.6 million ). Exchange rate effects had a positive impact on sales of SEK 483.5 million , which corresponds to 8 %. Acquired operations also had a positive impact of SEK 247.0 million or 4 %.
Net sales in the US increased by 52 % and the improvement occurred in all segments . Sweden increased sales by 5 %, Central Europe increased by 60 % and Southern Europe increased by 37 %. All three regions increased in the Corporate and Sports & Leisure segments , but decreased in Gifts & Home Furnishings . The Nordic region , excluding Sweden , increased by 26 %, where there were increases in all segments . Other countries increased by 23 % with improvement in Corporate and Sports & Leisure .
The promo sales channel increased by 37 % and retail sales improved by 24 %. Promo improved in Corporate and Sports & Leisure but decreased in Gifts & Home Furnishings . Retail increased in Sports & Leisure but decreased in Corporate and Gifts & Home
Gross profit
The gross profit margin was higher than the previous year and amounted to 49.5 ( 48.1 ) %. It is mainly Corporate and Sports & Leisure that increased their margin . Gifts & Home Furnishings are at the same level as last year .
Five Year Summary
SEK million 2022 2021 2020 2019 2018
Net sales
8 843.6
6 718.6
6 098.8
6 903.5
6 290.6
Goods for resale
-4 468.4
-3 489.3
-3 461.5
-3 701.0
-3 359.4
Gross profit
4 375.2
3 229.3
2 637.3
3 202.4
2 931.2
Other operating income
123.9
111 . 5
146.2
77.9
74 . 8
External costs
-1 470.3
-1 067.9
-975.7
-1 312.7
-1 336.4
Personnel costs
-1 205.3
-1 016.9
-982.6
-1 159.9
-1 063.0
Amortizations , depreciations and write-downs
-249.2
-227.3
-229.5
-233.1
-77.9
Other operating costs
-67.4
-21.7
-48.3
-39.6
-44.8
Share of associated companies ’ result
-1.8
-1.1
-1.4
-0.2
-1.1
Operating result
1 505.1
1 005.9
545.9
535.0
482.8
Net financial items
-55.0
-43.0
-64.9
-68.2
-40.9
Result before tax
1 450.1
962.9
481.0
466.7
441.8
Tax expense
-281.3
-202.9
-118. 0
-96.7
-81.8
Result for the year
1 168.8
760.0
363.0
370.1
360.0
Gross profit margin , %
49.5
48.1
43.2
46.4
46.6
Operating margin , %
17.0
15.0
9.0
7.7
7.7
Equity ratio *, %
53.8
59.6
53.4
44.9
48.6
Net debt to equity ratio *, %
39.5
23.4
47.1
78.6
53.3
Net debt in relation to working capital *, %
44.7
35.7
59.5
77.1
57.0
Average number of employees
2 312
2 060
2 064
2 579
2 566
Total assets *, SEK million
10 943.6
7 660.6
7 216.7
8 394.3
7 061.4
* The key figures for 2019 and forward have been affected by accounting according to IFRS 16 .
ANNUAL REPORT // 065