PERIOD 1 JANUARY -
- Net sales amounted to
SEK 2,135.5 million , which was 20% higher than last year (SEK 1,774.9 million ). Currency changes affected net sales positively by 6% and acquired business by 9% -
Operating result amounted to
SEK 313.5 (209.1) million. -
Result for the period amounted to
SEK 222.2 (153.5) million. -
Earnings per share amounted to
SEK 3.35 (2.31). -
Cash flow from operating activities amounted to
SEK -193.1 (5.2) million. - Equity ratio amounted to 56.3 (61.9) %.
- Net debt to equity ratio amounted to 42.0 (22.9) %.
CEO COMMENTS
Net sales
We start 2023 in an incredibly impressive way. Both the first quarters of 2021 and 2022 were record highs. Therefore we were comparing against very strong numbers and we were still able to outperform them. Net sales increased by 20% to
Operating result increased by
Of our two sales channels, promo grew by 22% and retail by 17%. Of our three segments, Corporate grew by 24%, Sports & Leisure by 23%, while Gifts & Home Furnishings decreased by 6%.
Rolling 12 months
On a rolling full-year basis, net sales now amount to
Operating result amounts to
Cash flow & balance sheet
We continue to have a very strong balance sheet. For the first time, equity exceeds
We have increased our debt slightly because we deliberately built up the inventory and we are increasing sales and thus tying up more capital in accounts receivable. We also acquired B.T.C. Activewear last year and we still have room for more acquisitions.
The future
It is always difficult to assess the short-term perspective, but I know that we are strong in almost all areas. The investments we made in the past have really yielded good results, both in increased sales and in a very good profit development.
We have a lot of growth left in already developed products, such as in Craft shoes and Craft Teamwear, where we have only seen the beginning. There are also great opportunities for continued profitable growth within Cutter & Buck and several of our brands within promo and professional clothing.
We will, as I previously wrote, increase the pace of product development, marketing and introduction of existing products/brands in more countries. This was already initiated during the first quarter. As it currently stands, current revenue increases are able to offset those costs without having any major negative impact on our results.
So all in all, my employees and I see the future brightly and we have many years of profitable growth ahead of us!
FOR MORE INFORMATION, PLEASE CONTACT:
CEO and Group CEO
Phone: +46 31-712 89 01
E-mail: torsten.jansson@nwg.se
Deputy CEO
Göran Härstedt
Phone: +46 (0) 70- 362 56 11
E-mail: goran.harstedt@nwg.se
CFO
Lars Jönsson
Phone: +46 31-712 89 12
E-mail: lars.jonsson@nwg.se
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