PERIOD 1 APRIL -
- Net sales amounted to
SEK 2,019.2 million , which was 36% (30% in local currencies) higher than last year (SEK 1,486.8 million ). -
Operating result amounted to
SEK 351.0 (241.3) million. -
Result for the period amounted to
SEK 265.0 (187.7) million. -
Earnings per share amounted to
SEK 3.99 (2.84). -
Cash flow from operating activities amounted to
SEK 68.1 (185.3) million.
PERIOD 1 JANUARY -
- Net sales amounted to
SEK 3,794.1 million , which was 38% (32% in local currencies) higher than last year (SEK 2,748.4 million ). -
Operating result amounted to
SEK 560.1 (341.5) million. -
Result for the period amounted to
SEK 418.5 (255.4) million. -
Earnings per share amounted to
SEK 6.31 (3.88). -
Cash flow from operating activities amounted to
SEK 73.3 (552.5) million. - Equity ratio amounted to 59.0 (58.9) %.
- Net debt to equity ratio amounted to 27.0 (31.2) %.
CEO COMMENTS
Another record quarter
It is with pride and joy that we can present another record quarter with strong growth both in terms of sales and results. Sales have now increased eight quarters in a row and we are showing an all-time high in both net sales and operating result for the sixth consecutive quarter.
Net sales in the quarter increased from
Operating result increased from
The operating margin amounted to 17.4% in the quarter, which is also an all-time high.
All markets showed growth except for the Other countries region, which is due to reduced trading in
Both our sales channels had good growth with 33% in promo and 40% in retail.
The half year
The first two quarters of the year produced sales growth of 38%, in local currencies 32%. Net sales amounted to
Rolling 12 months
On a rolling full-year basis, net sales now amount to
Cash flow and balance sheet
We have increased the inventory to address the increasing demand. Accounts receivable increased due to the sales growth and we have distributed 547 MSEK in dividends during the last seven months to the shareholders. Considering these items, our balance sheet remains very strong with an equity ratio of 59% and an equity balance of more than
The future
Despite all the current challenges in the world around us, our numbers show that our investments continue to bring success. We currently do not see any reduced demand for our products and brands - rather the opposite. Our sales continue to increase. We have now managed to build up the inventory during the second quarter, however further stock build-up is needed to meet the increasing demand. We also know that we have good growth (42%) in Craft's base orders for the fall. More and more customers are starting to sell our shoes and the Teamwear investment continues to produce good results. I also want to highlight Clique, which is greatly increasing its promo sales, and Cutter & Buck, which has become a growth machine both in
I am convinced that we are now taking market shares in most areas. If there is a downturn in the economy, we are well positioned to continue to take market shares and show growth. In addition, we have both higher profitability and a stronger balance sheet than most competitors, which opens the door for possible acquisitions at more reasonable prices. In recent years, we have had to refrain from acquisitions due to excessive price expectations.
Finally, a big thank you to our entire organization who have done a great job and a big thank you to all the customers who choose our products.
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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