NWG // 2020
January - June
Net sales
Net sales amounted to SEK 2,755.4 million, which
was 14% lower than last year (SEK 3,193.9 million).
Exchange rate effects had a positive impact on sales
with SEK 32.7 million, corresponding to 1%.
Net sales in the US decreased by 36%, which was
related to Sports & Leisure and Corporate. In Sweden,
net sales decreased by 18%, with decreases in all
segments. Sales in Central Europe decreased by 20%,
which was attributable to Corporate and Sports &
Leisure. The Nordic countries excluding Sweden had
28% lower net sales than last year, related to Corporate
and Sports & Leisure here as well. Southern Europe
increased by 34%, attributable to several major trading
shipments in the Corporate segment. Other countries
increased by 21%, which was related to the trading
business in Asia within the Corporate segment.
Gross profit
The gross profit margin was lower than the previous
year and amounted to 41.6 (46.8) %. The lower margin
is mainly related to the trading business in the
Corporate segment. However, Sports & Leisure and
Gifts & Home Furnishings also had lower margins than
the previous year.
Other operating income and other
operating expenses
Other operating income increased by SEK 49.3 million
to SEK 82.0 (32.7) million. The increase is attributable
to government support in connection with COVID-19.
In addition to these supports, other operating income
include the operating currency gains and must be set
against the income statement item other operating
expenses, where primarily operating currency losses
are reported. Other operating expenses increased
by SEK 5.9 million and amounted to SEK -21.8 (-15.9)
million. The net of the above mentioned items
amounted to SEK 60.2 (16.8) million.
Costs and depreciations
External expenses decreased by SEK 170.0 million
and amounted to SEK -498.7 (-668.7) million. The
decrease is related to savings and volume-related
costs. Personnel costs decreased by SEK 71.6 million
and amounted to SEK -502.0 (-573.6) million, which
is attributable to temporary lay-offs and reduced
number of staff.
Exchange rate effects have increased the above
mentioned costs by SEK 15.7 million.
Amortizations, depreciations and write-downs
were higher compared to last year and amounted to
SEK -117.9 (-103.8) million. The increase is mainly
related to depreciations on right-of-use asset for
leasing, which increased by SEK 12.6 million.
Operating result
Operating result amounted to SEK 86.0 (165.6) million
and the decrease is related to the lower net sales.
Net financial items and tax
Net financial items amounted to SEK -35.2 (-29.9)
million, which is related to higher interest expenses.
Tax on result for the period amounted to SEK -14.8
(-25.9) million.
Result for the period
Result for the period amounted to SEK 35.9 (109.7)
million and earnings per share amounted to SEK 0.57
(1.68).
9 // Q2