Amendment Interim Report New Wave Group AB

KUNGÄLV, Sweden, Nov. 8, 2018 /PRNewswire/ --The interim report for New Wave Group that was made public earlier today is information that New Wave Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (and not under the Securities and Market Act and/or the Financial Trading Act, which was incorrectly stated in the report).

PERIOD 1 JULY - 30 SEPTEMBER 2018

• Net sales amounted to SEK 1,551.2 million, which was 17 % higher than last year (SEK 1,331.1 million).
• Operating result amounted to SEK 117.5 (143.0) million.
• Result for the period amounted to SEK 88.4 (105,3) million.
• Earnings per share amounted to SEK 1.36 (1.60) kr.
• Cash flow from operating activities amounted to SEK -83.0 (-10,4) million.

PERIOD 1 JANUARY - 30 SEPTEMBER 2018

• Net sales amounted to SEK 4,347.2 million, which was 10 % higher than last year (SEK 3,967.0 million).
• Operating result amounted to SEK 273.4 (296.6) million.
• Result for the period amounted to SEK 201.1 (207.2) million.
• Earnings per share amounted to SEK 3.06 (3.14) kr.
• Cash flow from operating activities amounted to SEK 48.2 (73.3) million.
• Equity ratio amounted to 47.7 (48.0) %.
• Net debt to equity ratio amounted to 58.4 (60.7) %.
    

CEO COMMENTS

JULY – SEPTEMBER

Our third quarter was strong in terms of sales with a growth of 17 % (9 % excluding currency). This despite the fact that the summer was extremely hot which meant that for the first time, there was a decrease in terms of visitors, sales and result in Kosta. We are convinced that this was due to the extreme heat as the number of visitors increased again during the autumn season. Gifts & Home Furnishings therefore decreased 5 % during the quarter, while Sports & Leisure grew 15 % and Corporate Promo by as much as 25 %.

The operating result declined by SEK 25.5 million and the result for the period by SEK 16.9 million. We are currently in a phase with big investments in sales and marketing as well as investments in infrastructure to enable continued growth, which might lead to lower result in some quarters.

The foundation for our long term success is growth and it is gratifying that this is the 17th consecutive quarter with sales growth.

JANUARY - SEPTEMBER

Sales for the nine months increased by 10 % to SEK 4,347.2 million, of which growth in local currencies was 7 %. On the rolling full year we reached SEK 5,977.5 million, which means that we will surpass the next milestone, i.e. a turnover of SEK 6 billion for the full year. Operating result decreased by SEK 23.2 million to SEK 273.4 million and the result for the period declined by SEK 6.1 million to SEK 201.1 million. In view of our sales growth and expansion, the cash flow is under control and cash flow from operating activities amounted to SEK 48.2 million. This gives us a continued strong balance sheet, which is a priority and important for our future expansion.

THE FUTURE

We will continue our expansion in the next and future years. Craft's sale orders for spring 2019 increased by over 30 %. We are continually contracting new clubs and teams as well as gaining new customers to Craft every day and on many markets. The Corporate Promo segment has had a stunning growth of 15 % in the first 9 months and we see no reason why it shouldn't continue to grow. We have invested strongly in recent years and are well equipped. I am convinced that we have a bright future ahead of us. This applies to growth in both sales and profit – although individual quarters with lower results could occur even in the future.

Torsten Jansson, CEO 

FOR MORE INFORMATION, PLEASE CONTACT:

CEO
Torsten Jansson
Phone: +46-31–712-89-01
E-mail: torsten.jansson@nwg.se

CFO
Lars Jönsson
Phone: +46-31–712-89-12
E-mail: lars.jonsson@nwg.se

This information is information that New Wave Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons detailed above, at 7:00 a.m. CET on 8 November 2018.

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SOURCE New Wave Group