Historically strong Q1 result
- Net sales amounted to
SEK 1,877 m (1,443), corresponding to a 30.1% increase in sales. Adjusted for exchange rate movements, net sales increased by 23.5%. -
The gross profit amounted to
SEK 391 m (271), an increase of 45% in absolute terms compared with the same period last year. The gross margin increased by 2 percentage points. -
Operating income amounted to
SEK 130 m (51), corresponding to an increase of 153% compared with the same period last year. Income is historically strong in absolute terms in a seasonally weak quarter. - The period was characterized by normalized levels and indicates a strong recovery for the restaurant industry.
-
Cash flow from operating activities improved by more than
SEK 300 m compared with the same period last year.
|
KEY FINANCIALS
SEK m | 3 months Jan-Mar 2023 | 3 months Jan-Mar 2022 | 12 months Apr-Mar 22/23 | 12 months Jan-Dec 2022 |
Net sales | 1,877 | 1,443 | 7,410 | 6,976 |
Organic growth | 23.5% | 49.3% | 25.9% | 30.9% |
Operating income 1) | 130 | 51 | 528 | 450 |
Operating margin 1) | 6.9% | 3.6% | 7.1% | 6.4% |
EBIT | 111 | 26 | 411 | 326 |
EBIT margin | 5.9% | 1.8% | 5.5% | 4.7% |
Income after financial items | 93 | 12 | 365 | 283 |
Income after tax | 90 | 6 | 286 | 201 |
Earnings per share attributable to equity holders of the Parent Company | 1.65 | 0.11 | 5.79 | 4.25 |
Return on capital employed, excluding goodwill | 18.2% | 16.1% | 18.2% | 16.6% |
1) For reconciliation of alternative key financials, definition of key financials and glossary, see pages 28-30.
CEO's comment
"
Normalized levels
During the first quarter of the year, we saw demand at pre-pandemic levels within restaurant and catering, which is the part of the consumer market in which we operate. It is our impression that people wanted to socialize and eat together, and prioritized restaurant visits. Consumption trends also show that we are eating more times over the course of a day and on the go, which is driving the take-away industry in particular. This trend in the restaurant industry contrasted with the trends in the consumer market in general during the first quarter. Consumers seemed to be holding back on more expensive items such as travel, hotel nights and renovations, as higher inflation and interest rates affected household finances. At the same time, many people continued to eat served food in their day-to-day lives, at home, in restaurants or on the go between different activities. As a result of this, the Group's business operations were also characterized by normalized levels during the first quarter compared with before the pandemic.
Historically strong results
The Group's sales in the first quarter amounted to
Growth in business areas
The Duni business area increased its sales during the quarter by 34% at fixed exchange rates compared with the same period in the previous year. Sales were also higher than before the pandemic. All markets made a positive contribution to growth during the quarter. The
Important consumer trends
The trend towards sustainable solutions is strong and is ultimately being driven by consumer demand. With the new insights when comes to consumption patterns and trends, I am therefore extra pleased that we have reduced our level of virgin fossil plastic. We achieved an index of 70 in the first quarter, with the goal of achieving an index of 50 in 2025. It is also pleasing to report that the Group's Australian operations won several prestigious awards during the quarter, including the
Robert Dackeskog, President and CEO,
For more information, please contact:
Robert Dackeskog, President and CEO, +46 (0)40 10 62 00
Box 237
SE-201 22 Malmö
Phone: +46 (0)40 10 62 00
www.dunigroup.com
Company registration number: 556536-7488
https://news.cision.com/duni-ab/r/interim-report-january-1---march-31--2023,c3755228
https://mb.cision.com/Main/295/3755228/1999490.pdf
https://news.cision.com/duni-ab/i/graph1,c3169339
https://news.cision.com/duni-ab/i/graph2,c3169338
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