First quarter
* Sales totalled SEK 1,507 M (1,462), up 3%.
In local currencies, growth was 5%.
* Operating profit amounted to SEK 92 M (101), down 8%
* Profit after tax was SEK 69 M (72), down 5%
* Earnings per share amounted to SEK 1.09 (1.14), down 4%
* Cash flow from operating activities totalled SEK 109 M (95)
Events after the end of the reporting period
* Sales in August amounted to SEK 561 M (530), up 6%.
In local currencies, growth was 7%.
* Clas Ohlson is expanding internationally through franchising in the Gulf Cooperation Council (GCC) region
CEO Klas Balkow comments:
“We continued to strengthen our position in all markets and posted growth of 5 per cent measured in local currencies in our first quarter. Both sales and earnings were impacted by exchange-rate effects, mainly attributable to the weakening of the NOK.
With Clas Ohlson’s strong market position in the Nordic region and the company’s concept and financial position as a base, we see substantial potential to expand our concept to new markets and customer segments. In addition to those initiatives previously announced and with a new offering to corporate customers as well as the planned entry in the German market, no earlier than 2014, we are currently supplementing our establishment strategy with franchising to access new international markets. Through a franchising agreement with the Al Homaizi Group, the opening of two stores is planned for Kuwait or the United Arab Emirates in 2014, a number that could be increased to a minimum of 20 stores in the GCC region following evaluation of the first two stores.
The second quarter started successfully, with sales growth of 7 per cent measured in local currencies during August and we have many exciting new products in our product range,” says Klas Balkow, President and CEO.
Analyst and media conference
An analyst and media conference will be held today, Wednesday 4 September at 10 a.m. (CET). For participation, please visit http://about.clasohlson.com or http://www.financialhearings.com
For more information, please contact:
Klas Balkow, CEO and President, Clas Ohlson AB: +46 (0)247-447 55
John Womack, Director of Information and IR, Clas Ohlson AB: +46 (0)247-444 05
The information in this press release comprises information that Clas Ohlson AB (publ) is required to disclose pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication at 08:00 (CET) on Wednesday 4 September 2013.