Interim repotr January - June 2106 Read more

Strong growth and increased profitability
Second quarter highlights
First half year highlights
• Income amounted to MSEK 523.1 (393.2).
• Operating profit amounted to MSEK 35.7 (21.6) and operating
margin to 6.8 % (5.5).
• Acquisition costs has charged the operating profit with MSEK 7.0
(0.0).
• Net income amounted to MSEK 26.4 (16.6) and earnings per share
were 0.41 kr1 (0.26).
• Cash flow from operating activities amounted to MSEK 6.1
(25.1).
• Income amounted to MSEK 888.1 (729.4).
• Operating profit amounted to MSEK 45.0 (25.7) and operating
margin to 5,1 % (3,5).
• Acquisition costs has charged the operating profit with MSEK 7.0
(0.0).
• Net income amounted to MSEK 33.4 (19.5) and earnings per share
Were 0.52 kr1 (0.30).
• Cash flow from operating activities amounted to MSEK 26.2
(29.3).
Significant events during the quarter
Significant events after the period
• To be able to leverage future business opportunities and reduce
• Swedol acquired all shares in Björnkläder Intressenter AB (“Grolls”).
Grolls is a leading specialist in personal protective equipment (PPE) and its indebtedness, the board considers it desirable that Swedol further
strengthens its shareholders’ equity. The board has therefore resolved
workwear in the Nordic region, with a turnover of MSEK 1,012 and
operating profit of MSEK 83 (adjusted for non-recurring items) in 2015.
on a fully underwritten preferential rights issue, subject to AGM approval,
Swedol paid a cash sum for the shares and redeemed outstanding
of around MSEK 300. The issue is expected to be able to be organized
in the third quarter of 2016. The two largest shareholders,
loans. The total purchase price including redeemed loans amounted to
MSEK 784.7 and was financed by new loans. The acquisition was
Nordstjernan AB and Zelda AB, have undertaken to take up their
completed on 8 June 2016 and Grolls was consolidated into the Group
respective pro rata allocation of the preferential rights issue and underwrite
the rest of the issue.
with effect from that date.
• The board has convened an extraordinary shareholders' meeting on at
• Peter Söderberg has been recruited as new Head of Business
Development at Swedol and will join group executive management.
10.00 on Monday 8 August 2016 at the company head office,
Vindkraftsvägen 2, Tyresö, Stockholm, in accordance with a separate
invitation to vote on the preferential rights issue proposal.
Lars Axelson has been recruited as the new CFO of Swedol. Axelson will join
on 10 August 2016 and will also join group executive management.
Apr-Jun
20162
Apr-Jun
2015
Change
Jan-Jun
20162
Jan-Jun
2015
Change
Jan-Dec
2015
Revenue
523.1
393.2
129.9
888.1
729.4
158.7
1 540.0
Gross income
Group MSEK
201.5
150.0
51.5
340.5
276.4
64.1
579.5
Operating profit
35.7
21.6
14.1
45.0
25.7
19.3
55.5
Profit/loss before tax
34.0
21.2
12.8
43.0
25.0
18.0
54.2
38.5
38.1
0.4
38.3
37.9
0.4
37.6
Operating margin, %
6.8
5.5
1.3
5.1
3.5
1.6
3.6
Return on average capital employed, % 3
7.4
9.6
-2.2
7.4
9.6
-2.2
9.2
Return on average shareholders’ equity, % 3
11.0
8.9
2.1
11.0
8.9
2.1
8.3
Net debt in relation to EBITDA, 3
3.40
1.34
2.06
3.40
1.34
2.06
0.81
Equity ratio, %
27.4
58.3
-30.9
27.4
58.3
-30.9
60.8
0.41
0.26
0.15
0.52
0.30
0.22
0.66
8.21
7.73
0.48
8.21
7.73
0.48
8.01
0.10
0.39
-0.29
0.41
0.46
-0.05
1.22
Key ratios
Gross margin, %
Earnings per share, SEK
1
Shareholders’’ equity per share, SEK
Cash flow from operating activities per share, SEK
1
2
3
Earnings per share are the same before and after dilution, as there are no outstanding warrants or convertibles that can lead to dilution.
Björnkläder Intressenter AB has been consolidated with effect from 8 June 2016.
Rolling twelve months.
(MSEK)
(MSEK)
35%
8%
40
7%
35
6%
30
400
5%
300
600
30%
12%
530
10%
520
25
8%
510
4%
20
6%
500
3%
15
4%
490
2%
10
1%
5
2%
480
500
25%
(MSEK)
20%
15%
200
10%
100
5%
0%
0
Q 2-15 Q 3-15 Q 4-15 Q 1-16 Q2-16
Revenue, MSEK
Revenue growth, %
0%
0
Q 2-15 Q 3-15 Q 4-15 Q 1-16 Q2-16
Operating profit, MSEK
Operating margin %
0%
470
Q 2-15 Q 3-15 Q 4-15 Q 1-16 Q2-16
Shareholder's equity, MSEK
Return on average shareholders'
equity, %
│
Our chain stores
Some of our brands
│
│
│





│
│
│
│
│
│
│
│
│






│
Stores in Sweden
Borås · Eskilstuna · Falköping · Fosie · Gävle · Halmstad · Helsingborg
Hisingen · Högsbo · Jönköping · Karlstad · Kristianstad · Linköping
Luleå · Lunda · Malmö · Motala · Norrköping · Piteå · Skellefteå · Skövde
Solna · Sundsvall · Toftanäs · Uddevalla · Umeå · Uppsala
Vimmerby · Västerås · Växjö · Årstad · Örebro
Norway
Arendal · Asker · Bergen · Drammen · Fredrikstad · Follo Ski
Holmenstrand · Kristiansand · Larvik · Oslo · Sarpsborg
Sandnes · Trondheim
Finland
Helsingfors · Tammerfors · Vasa · Åbo
Estonia
Tallinn
Internetstores
swedol.se
swedol.no
grolls.se
univern.no
nimab.se
Stores
Swedol
Grolls
Swedol and Grolls
Follow us!
Butik
r
ar
Logistics center
Univern
For questions concerning the report:
Financial calender
Interim report Jan-Sep 2016
Year-end report Jan-Dec 2016
Interim report Jan-Mar 2017
Oct 31, 2016, 1:00 pm
Feb 16, 2017 8.30 pm
Apr 27, 2017 1:00 pm
Annual General Meeting
Extraordinary general meeting
Annual general meeting of 2016
Clein Johansson Ullenvik, CEO
Phone: +46 8 742 47 20
[email protected]
Casper Tamm, CFO
Phone: +46 8 742 47 32
[email protected]
Swedol AB (publ)
Box 631 · SE-135 26 Tyresö
Visiting address: Vindkraftsvägen 2
Phone +46 8 712 00 00
www.swedol.se
Aug 8, 2016
Mar 29, 2017