Nobia: Increased growth and improved profit
Operating profit for the quarter increased by 38 per cent to SEK 278 million (202). The improved operating profit can be attributed to strengthened market positions in several of Nobia's primary markets, combined together with greater demand and improved efficiency in several units. All regions improved their operating profit, with the most significant improvement in the Nordic operations. The acquired French company Hygena contributed positively to earnings per share.
Comments from the CEO:
"We have had a favourable start to 2006 and the European kitchen market is currently in an exciting phase," says President and CEO Fredrik Cappelen. "The market in the UK stabilised and our operations recorded improved profits. Our Nordic operations are continuing to demonstrate solid growth and in Continental Europe, our acquisition of the French chain Hygena strengthened operating profit."
Nobia Group Summary
|
|
|
|
Jan - Mar |
|
|
|
|
Apr - Mar |
|
Jan - Dec |
|
|
|
2006 |
|
2005 |
|
Change |
|
2005/06 |
|
2005 |
|
Net sales, SEK m |
|
3,615 |
|
2,854 |
|
27% |
|
13,203 |
|
12,442 |
|
Operating profit before depreciation, SEK m (EBITDA) |
|
372 |
|
277 |
|
34% |
|
1,397 |
|
1,302 |
|
Operating profit, SEK m (EBIT) |
|
278 |
|
202 |
|
38% |
|
1,069 |
|
993 |
|
Operating margin, % |
|
7.7 |
|
7.1 |
|
|
|
8.1 |
|
8.0 |
|
Profit after financial items, SEK m |
|
248 |
|
173 |
|
43% |
|
960 |
|
885 |
|
Profit after tax, SEK m |
|
173 |
|
125 |
|
38% |
|
689 |
|
641 |
|
Earnings per share, after full dilution, SEK |
|
2.97 |
|
2.15 |
|
38% |
|
11.84 |
|
11.01 |
|
Return on capital employed, % |
|
|
|
|
|
|
|
19.3 |
|
18.6 |
|
Return on equity, % |
|
|
|
|
|
|
|
23.2 |
|
22.6 |
Classification of pensions has been changed, see Accounting Principles, page 7.
The full report with tables can be downloaded from the following link:
Nobia is Europe's leading kitchen interiors company. The Group works with strong brands in several European markets. Sales are mainly through specialised kitchen studios, managed internally or through franchises. Nobia leads the consolidation of the European kitchen industry and, by using an industrial approach, creates profitable growth by implementing greater efficiency and making acquisitions. In 2004, the Group reported sales of SEK 11.3 billion and had approximately 6,700 employees. Nobia is listed on the O-List of the Stockholm Stock Exchange.