Net sales of the Swedish wood flooring manufacturer Kährs for the period April-June 2016 amounted to SEK 755 million (III-VI 2015: 681 million), an increase of 11 per cent compared with the same period in 2015. Continued solid growth in the Nordics and Europe segments, combined with a strong increase in sales in the Resilient Global segment contributed to the performance during the quarter.
Operating profit before depreciation, amortisation and non-recurring items (adjusted EBITDA) was SEK 84 million (III-VI 2015: 76), corresponding to an operating margin of 11.1 per cent (III-VI 2015:11.2).
Consolidated profit for the quarter was SEK 35 million (24) and was positively affected primarily by an increase in operating profit and lower financing costs compared with the same period in 2015.
President and CEO Christer Persson comments:
“Kährs Group continued its stable performance during the second quarter and as a result, the Group’s sales and profitability both developed positively in the period. In the Nordic region, the Swedish market reported the most favourable performance, though we also saw good sales growth in the US and in most of our major markets in Europe such as Germany, UK and Switzerland. The Resilient Global segment demonstrated robust growth during the quarter and rose 42 per cent with strong underlying sales in the US and Germany.
In early June, the Board approved the new business plan formulated in the spring, which states that Kährs Group is to be perceived as the innovative and design-driven flooring manufacturer in Europe, while being integral to leading design and interior design concepts.”
About
Kährs Group is a world leading wood and resilient flooring manufacturer with well-known and globally recognized brands such as Kährs, Karelia and Upofloor. Kährs Group delivers products to more than 50 countries and have a market leading position in Sweden, Finland, Norway and Russia as well as a strong position in other important markets such as the UK and Germany. The group employs 1,600 people and has yearly sales of around 300 MEUR.
