New Wave Group Annual Report 2023 | Page 65

NWG // FINANCIAL INFORMATION
& Leisure increasing , while Corporate and Gifts & Home Furnishing decreasing . Central Europe increased by 35 %, which was mainly related to last year ' s acquisition in the Corporate segment , but Sports & Leisure also increased . Southern Europe increased by 10 % with the improvement occuring in the Corporate and Sports & Leisure segments . The Nordics ( excl . Sweden ) decreased by 1 % where Corporate increased while Sports & Leisure experienced declines . Other countries decreased by 5 % and all segments had lower net sales .
The promo sales channel increased by 12 % and retail sales improved by 1 %. Promo improved in Corporate and Sports &
Leisure segment but decreased in Gifts & Home Furnishings . Retail sales increased mainly in Corporate and Sports & Leisure .
Gross profit
The gross profit margin was higher than the previous year and amounted to 50.3 ( 49.5 ) %. Sports & Leisure increased its margin , while Corporate and Gifts & Home Furnishing are at the same level as last year .
Five Year Summary
SEK million 2023 2022 2021 2020 2019
Net sales
9 512.9
8 843.6
6 718.6
6 098.8
6 903.5
Goods for resale
-4 730.2
-4 468.4
-3 489.3
-3 461.5
-3 701.0
Gross profit
4 782.6
4 375.2
3 229.3
2 637.3
3 202.4
Other operating income
130.7
123.9
111 . 5
146.2
77.9
External costs
-1 663.0
-1 470.3
-1 067.9
-975.7
-1 312.7
Personnel costs
-1 352.8
-1 205.3
-1 016.9
-982.6
-1 159.9
Amortizations , depreciations and write-downs
-263.2
-249.2
-227.3
-229.5
-233.1
Other operating costs
-54.5
-67.4
-21.7
-48.3
-39.6
Share of associated companies ’ result
-2.7
-1.8
-1.1
-1.4
-0.2
Operating result
1 577.2
1 505.1
1 005.9
545.9
535.0
Net financial items
-137.7
-55.0
-43.0
-64.9
-68.2
Result before tax
1 439.4
1 450.1
962.9
481.0
466.7
Tax expense
-320.4
-281.3
-202.9
-118. 0
-96.7
Result for the year
1 119.0
1 168.8
760.0
363.0
370.1
Gross profit margin , %
50.3
49.5
48.1
43.2
46.4
Operating margin , %
16.6
17.0
15.0
9.0
7.7
Equity ratio , %
60.2
53.8
59.6
53.4
44.9
Net debt to equity ratio , %
31.4
39.5
23.4
47.1
78.6
Net debt in relation to working capital , %
37.2
44.7
35.7
59.5
77.1
Average number of employees
2 450
2 313
2 060
2 064
2 579
Total assets , SEK million
10 739.3
10 943.6
7 660.6
7 216.7
8 394.3
ANNUAL REPORT // 065