Improved gross margin in a quarter with challenging comparison figures
April-
- Net sales amounted to
SEK 903 million (859), but with challenges in organic growth as a result of the previous year's hoarding effects and increased household consumption. -
EBITDA amounted to
SEK 78 million (97) before items affecting comparability, corresponding to a margin of 8.6 percent (11.3). -
Profit for the period amounted to
SEK 24 million (40), corresponding to earnings per share ofSEK 0.37 (0.62) before and after dilution. -
Free cash flow amounted to
SEK -35 million (84). Midsona's targets for reduced emissions now agree with the levels required to meet the goals in theParis agreement after approval from the international cooperative body Science Based Target initiative (SBTi).
January-
- Net sales amounted to
SEK 1,868 million (1,805). -
EBITDA amounted to
SEK 172 million (204) before items affecting comparability, corresponding to a margin of 9.2 percent (11.3). -
Profit for the period was
SEK 57 million (87), corresponding to earnings per share ofSEK 0.88 (1.34) before dilution andSEK 0.87 (1.33) after dilution. -
Free cash flow amounted to
SEK -61 million (86).
Comment by the CEO
We are summarising an intensive quarter characterised by tough comparative figures from last year, but also a quarter of new customers and new listings among leading actors, which bodes well for the future.
Pandemic effects resulted in difficult comparative figures and inhibited sales
In the second quarter of 2020, we carried out a successful roll-out of organic products in
Earnings gradually strengthened during the quarter
To address an expected return to a somewhat lower, more normal consumption pattern, we invested a total of around
Brand focus, integration and success in sustainability
Many of the brands that were negatively impacted by the pandemic, mainly in consumer health and health foods, received a positive push during the quarter and sales of own brands increased. Among other things, the launches of the Mivitotal and Eskio-3 brands were well-received by customers and consumers. We also saw a clear recovery in food service and pharmacy goods. We continued to focus on our organic brands and were successful in the roll-out to the grocery trade in
The integration of System Frugt continued during the quarter. Since 1 July, System Frugt has been a fully integrated company in the
During the quarter, we also had our targets for reduced emissions approved by the international cooperative body Science Based Target initiative (SBTi), which means that our targets agree with the levels required to achieve the
Several factors indicate a strong third quarter
For the third quarter, we are facing simpler comparative figures since we were completely out of the hoarding phase in the year-earlier period and the roll-out of organic products in
The situation concerning delivery disruptions continues to be challenging, mainly for raw materials and transports from
It's pleasing that the acquisition market is continuing to thaw, and we have returned to conducting discussions with potential acquisition companies throughout
Peter Åsberg
President and CEO
This is information of the type that
For more information, please contact President and CEO Peter Åsberg, telephone +46 (0)730 26 16 32, or CFO
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