INVESTMENTS REDUCE PROFIT
FIRST QUARTER
JANUARY 1 - MARCH 31, 2012
- The Group's net sales decreased by 7 percent to SEK 140.5 million (151.3). Excluding currency effects, sales were down 8 percent.
- The gross profit margin was 48.0 percent (50.4).
- Operating profit amounted to SEK 14.6 million (28.4).
- Profit after tax amounted to SEK 9.3 million (20.7).
- Earnings per share amounted to SEK 0.44 (0.89). Fully diluted earnings per share amounted to SEK 0.44 (0.88).
- Brand sales* (excluding VAT) increased by 4 percent to SEK 448 million (431). The increase was the same excluding currency effects.
- Issuance of a five-year, SEK 200 million bond loan.
QUOTE FROM THE CEO
"We leave behind a weak quarter. Sales were adversely affected by cautious purchasing during the fall and profit was weighed down by higher scheduled expenses, not least from our investments in new markets and a highly publicized branding event in London. We have also seen growing brand sales with an increase for smaller markets, as well as continued strength in e-commerce. We estimate that the inventory levels at our partners have decreased since the beginning of the year, and we confidently look forward to the rest of 2012" said CEO Arthur Engel.
For further information, please contact:
Arthur Engel, President and CEO, telephone +46 8 506 33 700
Magnus Teeling, CFO, telephone +46 8 506 33 700
Björn Borg is required to make public the information in this report in accordance with the Securities Market Act. The information
was released for publication on May 3, 2012 at 6:00 pm (CET).
http://www.cisionwire.com/bjorn-borg/r/bjorn-borg-ab-interim-report-january---march-2012,c9255416
http://mb.cision.com/Main/897/9255416/9861.pdf