(compared with the corresponding period a year ago)
· Net sales declined 1.0% to
· Organic net sales declined 0.9%
·
· Sales were negatively impacted by the COVID-19 pandemic and related lockdowns
· In emerging markets, which accounted for 36% of net sales, organic net sales increased 2.3%
· Operating profit before amortization of acquisition-related intangible assets (EBITA) increased 43% to
· Adjusted EBITA increased 32% to
· Adjusted EBITA margin increased 3.7 percentage points to 14.7% (11.0)
· Profit for the period increased 38% to
· Earnings per share increased 32% to
· Adjusted earnings per share increased 20% to
· Cash flow from current operations increased 19% to
SUMMARY OF THE SECOND QUARTER 2020
The Group's net sales declined 11.4% in the second quarter of 2020 compared with the corresponding period a year ago. Organic net sales declined 9.3%, of which volume accounted for -9.8% and price/mix for 0.5%. In mature markets, organic net sales declined 14.7%. In emerging markets, which accounted for 39% of net sales, organic net sales increased 0.6%. Adjusted EBITA for the second quarter of 2020 increased 1% compared with the same period a year ago. The adjusted EBITA margin increased by 1.7 percentage points to 13.3%.
Sales were negatively affected by the COVID-19 pandemic and related lockdowns as well as inventory adjustments following the stockpiling that took place among consumers and distributors in
The Group's adjusted gross margin for the second quarter of 2020 increased 3.2 percentage points to 32.2% compared with the corresponding period a year ago. The gross margin was positively impacted by a better mix, lower raw material and energy costs and costs savings. Lower raw materials and energy costs increased the gross margin by 5.1 percentage points. The lower raw material costs were primarily the result of lower pulp prices. Continuous cost savings amounted to
Eventually, the COVID-19 pandemic may lead to increased demand for the company's leading hygiene and health products as a result of increased awareness of the importance of hygiene and health.
INVITATION TO PRESENTATION OF HALF-YEAR REPORT FOR 2020
In conjunction with publication, a telephone and web presentation will be held where President and CEO
Presentation
Date:
Time:
Link to web presentation: https://essity.videosync.fi/2020-07-13
To participate by telephone, call: +44 (0)207 192 80 00, +1 631 510 74 95 or +46 (0)8 506 921 80. Please call well in advance of the start of the presentation.
Specify "Essity" or conference ID no. 6839227.
For further information, please contact:
Joséphine Edwall Björklund, Senior Vice President, Group
Per Lorentz, Vice President Corporate Communications, Group
NB:
This information is such that
https://news.cision.com/essity/r/half-year-report-2020,c3152984
https://mb.cision.com/Main/15798/3152984/1278378.pdf
(c) 2020 Cision. All rights reserved., source