Strong end to a historically profitable year
- Net sales increased 9 percent to
SEK 3,129 M (2,879). Organic growth was 7 percent. -
Adjusted EBIT amounted to
SEK 203 M (287) and the adjusted EBIT margin was 6 percent (10). -
EBIT totaled
SEK 173 M (260) and the EBIT margin was 5 percent (9). EBIT was positively impacted by items affecting comparability during the quarter ofSEK 3 M (pos: 11). -
Earnings per share, before and after dilution, amounted to
SEK 2.09 (3.29). -
Cash flow from operating activities amounted to
SEK 192 M (373). -
Net debt was
SEK 2,264 M (2,673) at the end of the period, compared withSEK 2,275 M atSeptember 30 . - Restrictions related to covid-19 had a limited impact on the quarter and the comparative period.
-
The comparative period was impacted by insurance compensation of
SEK 56 M related to the loss of income resulting from the data breach during the second quarter 2020.
- Net sales increased 7 percent to
SEK 12,309 M (11,511). Organic growth was 8 percent. Net sales were negatively impacted by currency effects of 2 percent. -
Adjusted EBIT amounted to
SEK 1,031 M (937) and the adjusted EBIT margin was 8 percent (8). -
EBIT totaled
SEK 894 M (738) and the EBIT margin was 7 percent (6). EBIT was positively impacted by items affecting comparability during the period ofSEK 3 M (neg: 44). -
Earnings per share, before and after dilution, amounted to
SEK 10.21 (7.67). -
Cash flow from operating activities amounted to
SEK 1,227 M (1,625). - Restrictions related to covid-19 had a limited impact on the period, while the comparative period was adversely impacted by the outbreak of covid-19.
-
The data breach impacted the comparative period, but insurance compensation of
SEK 63 M largely compensated for the financial impact of the loss of income. -
New financing through the issue of a senior unsecured bond of
SEK 1.25 billion during the first quarter. -
At the capital markets day held on
February 25 , an updated strategy was presented to achieve the long-term financial targets. -
The Board of Directors proposes a dividend of
SEK 3,00 (-).
CEO comments
Strong end to a historically profitable year
2021 will go down in history as the most profitable year ever for
Strong demand in our markets
The fourth quarter continued to demonstrate strong demand in most of our markets. Market development benefited from a slightly colder winter, but was to some extent adversely impacted by the spread of covid-19 and the reintroduction of restrictions in response to rising infection rates. Organic net sales growth was 7 percent, primarily driven by strong growth in
Healthy level of profitability
Profitability remained positive, despite the impact of investments for future growth, such as marketing investments, as well as higher transport costs. Some cost increases, related to a general inflation trend in our operating environment, had a marginal impact. EBIT amounted to
Strong financial position enables dividend
The Board of Directors proposes a dividend of
Well-positioned for the green transition
Top-class, future-proof logistics
One of our greatest strengths is highly efficient logistics. This enables rapid deliveries, increased availability, and better working conditions at the same time as we reduce the risk of disruption. We are also meeting the increased environmental requirements and can continue the digitization of the value chain at full force. Confirmation of our extensive expertise in this field came in October when we received the Retail Award in the category for Logistics Initiative of the Year. We received the award for our logistics transformation when we merged our two Swedish central warehouses. Today, 70 percent of our order rows in the Swedish central warehouse are handled by the automated logistics solution.
A historic year - when we continued to benefit from earlier acquisitions
We can now look back on the best-ever year in terms of earnings since
President and CEO
This information is such information that
at 07:30. The interim report is published in Swedish and English. The Swedish version is the original version and has been translated into English.
https://news.cision.com/mekonomen/r/year-end-report-january---december-2021,c3504399
https://mb.cision.com/Main/550/3504399/1533464.pdf
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