New Wave Group Annual Report 2023 | Page 5

NWG // 2023
9 % 50 %
N e w
W a v e

2023 in summary

G r o u p
41 %
Net sales per operating segment
Corporate Sports & Leisure Gifts & Home Furnishings
Despite a challenging market , primarily in retail during the second half of the year , our net sales increased to the highest level ever . Net sales for the year amounted to SEK 9,512.9 million , an increase of 8 % ( 4 % excluding currency changes ), of which acquired operations contributed 6 %. The segments Corporate and Sports & Leisure increased net sales , while Gifts & Home Furnishings decreased . Both promo and retail sales channels increased compared to last year . The higher net sales , improved gross profit margin and strong cost control resulted in an operating result of SEK 1,577.2 ( 1,505.1 ) million and an operating margin that amounted to 16.6 ( 17.0 ) %.
64 %
The strong development that the group
However , the group continued to gain
experienced in 2022 also continued into
market share . On July 1 , 2023 , New Wave
36 %
2023
the first quarter of 2023 . All segments increased their net sales , but the main
Group AB acquired 100 % of the shares in the Swedish outdoor company Tenson
increase was in Corporate and Sport
AB . The operating margin amounted
& Leisure . We accelerated the pace of
to 16.3 ( 17.8 ) %, which was the second
product development , marketing etc . in
highest operating margin the group had
Net sales per sales channel
Promo
Retail
most countries . The market was weaker in the second quarter than we previously estimated , however net sales continued to increase . The Corporate segment had growth , while Sports & Leisure and Gifts
for this quarter . The fourth quarter had a weaker market but was in line with our expectations . Net sales decreased slightly compared to the previous year and most of our regions decreased .
& Home Furnishings declined . The group
Only Central Europe had growth . The
gained market share in a weaker market .
segments Corporate and Gifts & Home
Dividend
# The Board of Directors proposes that the AGM decide on a dividend of SEK 3.50 per share , divided into two payment occations of SEK 1.75 per share each .
During the second quarter , the group began successful efforts to improve cash flow resulting in an improvement in operations . The cash flow from current operations improved by SEK 162.0 million and amounted to SEK 230.1 ( 68.1 ) million . The third quarter of the
Furnishings finished the same levels as last year , while Sport & Leisure posted a decline in net sales . The operating margin remained strong and amounted to 19.0 ( 19.4 ) % in the quarter .
During 2023 , Corporate increased by 15 % of which acquired operations had a
year had a challenging market with price
positive impact of 11 %. The segment had
reductions on a number of basic goods .
solid development during the first half
# Net sales amounted to SEK 9,512 . 9 million , which was 8 % higher than last year ( SEK 8,843.6 million ). Currency changes affected net sales positively by 4 % and acquired business by 6 %.
# Operating result amounted to SEK 1,577.2 ( 1,505.1 ) million .
# Result for the period amounted to SEK 1,119 . 0 ( 1,168.8 ) million .
# Earnings per share amounted to SEK 8.43 ( 8.81 ).*
# Cash flow from operating activities amounted to SEK 963.8 ( -360.0 ) million .
# Equity ratio amounted to 60.2 ( 53.8 )%.
# Net debt to equity ratio amounted to 31.4 ( 39.5 )%
* Before and after dilution , recalculated with regard to the 2:1 share split carried out in June 2023 .
ANNUAL REPORT // 005