NWG // CEO COMMENTS
" 2022 was a fantastic year for New Wave Group AB ."
- Torsten Jansson
CEO
T o r s t e n J a n s s o n comments
2022 was a fantastic year for New Wave Group AB . Despite currency exchange concerns , high energy prices , increased interest rates and the war in Ukraine , we are once again having the best year ever !
could not be more pleased and proud
I about the exceptional results that our fantastic employees and overall organization have delivered this past year .
Net sales
Despite very strong growth in 2021 we managed to increase net sales by SEK 2,125.0 million to SEK 8,843.6 million , an increase of 32 %. It was the first time ever that we were over SEK 8 billion and even approached SEK 9 billion .
Operating result
The operating result increased by SEK 499.2 million , on top of a SEK 460.0 million increase the year before . 2021 was a historic year and for the first time we passed SEK 1 billion in operating result and in 2022 we crossed a new stretch goal and reached SEK 1,505.1 million . The operating margin increased to 17.0 ( 15.0 ) %.
Cash flow and balance sheet
Cash flow from operating activities amounted to SEK -232.9 million . However this was intentionally done to position our inventory to meet anticipated market demands .
We have an equity of SEK 5,890.5 million , which provided a very strong balance sheet with an equity ratio of 53.8 %. Given that the large part of our balance sheet consists of current assets in the form of inventory and accounts receivable , it can be quickly adjusted if necessary . This puts us in a very favorable position . Our balance sheet gives us great opportunities for continued good organic growth and capacity for acquisitions .
The future
We stand extremely strong for the future . Our brands are constantly gaining market share and continue to grow daily . Thanks to our product range , we have a unique offering for our customers that virtually no competitor can offer . We continue to have great opportunities to grow as we have small market shares in many countries and also have a very strong organization . Thanks to excellent service , delivery ability , and high quality products with a wide range , we have satisfied customers . We also outshine many of our competitors in our sustain- ability work . All of this together means that I am very optimistic going forward for continued organic growth . Add to that our strong balance sheet , which also gives us opportunities for further acquisitions .
Our journey has only just begun !
Torsten Jansson CEO
008 // ANNUAL REPORT