NWG // 2024 |
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The Group ' s operating result amounted to SEK 1,262.3 million, which was a decrease of SEK 314.9 million compared to the previous year. |
2024 |
of the year but saw growth in the fourth quarter. Marketing efforts and personnel costs have both increased, the latter due to general salary increases and new investments. Overall, this meant that costs increased and therefore operating profit has thus decreased compared to last year.
Sports & Leisure had a weak first quarter but generated better sales thereafter and for the full year the segment increased by 3 %. The segment increased mainly in the USA, Central Europe and the Nordic countries( excl. Sweden). Investments in Craft have continued and the brand is developing well. Costs increased in the form of more marketing activities and the operating margin was slightly lower than last year.
Net sales for Gifts & Home Furnishings decreased by 2 % and the segment had weak development throughout the year. The segment had a lower net sales in most regions but maintained the same level in Sweden. Lower sales together with a lower gross profit margin and increased marketing activities and higher personnel costs have resulted in a decrease in operating profit compared to last year.
The gross profit margin was slightly lower than the previous year and amounted to 49.4 %( 50.3 %). It is mainly Corporate and Gifts & Home Furnishings that decreased, while Sports & Leisure was at the same level as last year.
External costs increased compared to the prior year. The increase is primarily attributable to sales costs and marketing activities. Personnel
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costs increased and are related to general salary increases and new investments.
The Group ' s operating result amounted to SEK 1,262.3 million, which was a decrease of SEK 314.9 million compared to the previous year( SEK 1,577.2 million). The lower gross profit margin and increased costs for marketing initiatives and personnel also meant that the operating margin decreased to 13.2( 16.6)%. Net financial income improved during the year as net debt and related interest expenses decreased. The profit for the year amounted to SEK 880.0 million( 1,119.0).
In line with a weaker market, the Group has adjusted its inventory to reflect current volumes and demand. The inventory reduction has also contributed to an improvement in cash flow from operating activities of SEK 314.5 million to SEK 1,278.3( 963.8) million and a reduction in the debt level to 25.2( 31.4)%. The Group has continued to invest in its inventory operations and investment activities increased by SEK 75.8 million to SEK-296.8 million(-220.9).
The equity ratio improved and amounted to 63.7( 60.2)%, and the Group ' s net debt decreased by SEK 210.1 million to SEK 1,818.8( 2,028.9) million as of December 31.
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Net sales, SEK million |
9,528.7 |
9,512.9 |
Gross profit margin, % |
49.4 |
50.3 |
EBITDA, SEK million |
1,570.2 |
1,840.4 |
Operating result, SEK million |
1,262.3 |
1, 577.2 |
Result for the year, SEK million |
880.0 |
1,119.0 |
Equity, SEK million |
7,217.1 |
6,460.4 |
Return on equity, % |
12.3 |
18.7 |
Return on capital employed, % |
13.8 |
18.1 |
Net debt to equity ratio, % |
25.2 |
31.4 |
Net debt in relation to working capital, % |
33.2 |
37.2 |
Equity ratio, % |
63.7 |
60.2 |
Average number of employees |
2,451 |
2,450 |
Earnings per share, SEK |
6.63 |
8.43 |
Equity per share, SEK |
54.39 |
46.68 |