NWG // 2024
9 % 49 %
N e w
W a v e
2024 in summary
G r o u p
42 %
Net sales per operating segment
36 %
Corporate Sports & Leisure Gifts & Home Furnishings
Net sales per sales channel
Promo Retail
Dividend
64 %
# 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.
2024
Net sales for the year were slightly higher than the previous year despite the difficult market situation. This means that the Group continues to gain market share, which we anticipate will bring positive results when the market turns around. Of our segments, Corporate and Gifts and Home Furnishings had slightly lower net sales, while Sports & Leisure increased. Sweden and Southern Europe decreased by 3 % and 5 % respectively, and Other countries also decreased slightly. The Nordic region( excl. Sweden), the USA and Central Europe showed growth of 2-4 %. A lower gross profit margin and increased costs for marketing initiatives and personnel meant that the Group ' s operating result decreased by SEK 314.9 million compared to the previous year, amounting to SEK 1,262.3 million( SEK 1,577.2 million). The operating margin decreased to 13.2( 16.6)%.
The Group ' s first quarter had lower net sales than the previous year. Net sales decreased in all segments and in both sales channels. All regions except Central Europe had lower sales than last year. Net sales were also negatively impacted by the calendar effect that arose when Easter this year fell in March instead of April.
The market was significantly weaker in the second quarter than we had previously assessed. We expected that an interest rate cut and discussion of further interest rate cuts would boost sales, but this did not occur. Our assessment is that the promo market declined in the quarter and that the retail trade continued to have a difficult time with declines there as well. However, the Group continued with its market investments and net sales increased despite the weak market.
Net sales in the third quarter decreased slightly but currency fluctuations had a negative impact, resulting in organic growth of 2 % for the year. The Sports & Leisure segment increased its sales slightly, while the Corporate and Gifts & Home Furnishings decreased. The Group continues to gain market share in a challenging market.
The Group once again experienced growth in the fourth quarter and net sales increased. It was primarily the Sports & Leisure segment and the profile sales channel that saw sales increase, however Corporate also experienced growth. Gifts & Home Furnishings decreased. Net sales increased in most regions but decreased in Sweden and Southern Europe.
The Corporate segment decreased by 2 % for the year experiencing sluggish growth during the first three quarters
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# Net sales amounted to SEK 9,528.7 million, which was at the same level as last year( SEK 9,512. 9 million).
# Operating result amounted to SEK 1,262.3( 1,577.2) million.
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# Result for the period amounted to SEK 880.0( 1,119. 0 million.
# Earnings per share amounted to SEK 6.63( 8.43).
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# Cash flow from operating activities amounted to SEK 1,278.3( 963.8) million.
# Equity ratio amounted to 63.7( 60.2)%.
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# Net debt to equity ratio amounted to 25.2( 31.4)%. |
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ANNUAL REPORT // 005 |