STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
First quarter in brief
· Net sales amounted to 646 MSEK (613), an increase of 33 MSEK or 5% compared with last year.
· The operating profit excluding depreciation and non-recurring items (adjusted EBITDA) in Q1 amounted to 53 MSEK (48) or 8.2% (7.8), an improvement of 11%.
· The operating profit excluding non-recurring items (adjusted EBIT) in the first quarter amounted to 30 MSEK (21) or 4.6% (3.4).
· The profit for the period amounted to 5 MSEK (10) during Q1. The reason for this negative deviation was related to currency translation of internal loans effecting the finance net with -14 MSEK.
· The company has in March 2014 made a tap issue of nominally 225 MSEK according to the Terms and Conditions of the corporate bond. This has added 214 MSEK net liquidity to the company.
· The net debt of the group per March 31, 2014 amounted to 482 MSEK including a financial lease of 118 MSEK.
CEO Christer Persson comments
"The group’s total net sales during Q1 was better than the same period last year related to net sales in hardwood flooring which increased by 5%. Also resilient, laminate and tiles showed a positive trend and increased with 6% while segment Other, especially flooring accessories, grew with just over 20% during the first quarter of the year. On the market side, Region Nordic developed positively with significant growth, especially in Sweden. Several other markets such as Central Europe, Spain and China also showed good improvement in sales during the first quarter of the year."
About Kährs Holding AB (publ)
Kährs Holding AB (publ.) is a world’s leading wood and resilient floor manufacturer with a number of strong brands in the product portfolio such as Kährs, Karelia and Upofloor. The company’s innovations have shaped the industry throughout the history and Kährs is dedicated to continue supplying the market with new innovative flooring solutions. The group delivers products to more than 50 countries and is a market leader in Sweden, Finland, Norway and Russia, and holds strong positions also in other important markets, e.g. the UK and Germany. The group employs some 1 600 people and has an annual turnover of approximately MEUR 300.
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