Strong quarter in volatile market
- Net sales amounted to
SEK 1,935 m (1,834), corresponding to a 5.5% increase in sales. At fixed exchange rates, net sales decreased by 2.2%. -
The gross profit amounted to
SEK 492 m (364), an increase of 35% in absolute terms compared with the same period last year, and the gross margin is once more at the same level as before the pandemic. -
Operating income amounted to
SEK 225 m (154), corresponding to an increase of 46.3% compared with the same period last year. - Good cost control and a decreasing rate of inflation are the main reasons for the improvement in income.
- Strong cash flow and lower net debt provides increased room for maneuver.
Key financials SEK m |
3 months Jul- |
3 months Jul- |
9 months Jan- |
9 months Jan- | 12 months Oct-Sep 22/23 | 12 months Jan-Dec2022 |
Net sales | 1,935 | 1,834 | 5,747 | 5,002 | 7,721 | 6,976 |
Organic growth 1) | -2.2% | 19.2% | 8.5% | 36.2% | 11.1% | 30.9% |
Operating income 1) | 225 | 154 | 525 | 296 | 678 | 450 |
Operating margin 1) | 11.6% | 8.4% | 9.1 % | 5.9% | 8.8% | 6.4% |
EBIT | 211 | 132 | 476 | 226 | 577 | 326 |
EBIT margin | 10.9 % | 7.2% | 8.3% | 4.5% | 7.5% | 4.7% |
Income after financial items | 191 | 120 | 428 | 192 | 520 | 283 |
Income after tax | 150 | 87 | 360 | 142 | 419 | 201 |
Earnings per share attributable to equity holders of the Parent Com- | ||||||
pany | 2.80 | 1.84 | 6.65 | 2.97 | 7.93 | 4.25 |
Return on capital employed, excluding goodwill | 26.8% | 16.1% | 26.8% | 16.1% | 26.8% | 16.6% |
1) For reconciliation of alternative key financials, definition of key financials and glossary, see page 28.
CEO's comment
"The third quarter shows strong financial figures for the
Good demand in the market
The third quarter of the year showed consistently strong financial figures for the Group's sales, margins and income. We believe that demand in the market continues to be good, even though we saw a slowdown towards the end of the quarter. This is being counteracted at the same time by the basic needs that people have to meet and socialize, prefera- bly in connection with food. Group sales during the quarter amounted to
High activity in the business areas
The Duni business area, which focuses on solutions for the set table, grew its sales during the quarter by
The
New, sustainable transport solutions were introduced during the quarter in
Trendshiftforthemargin
The operating margin increased to 11.6% (8.4%), which is a change of trend after several quarters below 10%. As a per- centage, the operating margin has recovered in recent quar- ters, while still being below historical levels. Although the cost profile for input products and energy remains signifi- cantly higher than before the pandemic, inflationary pressure in recent quarters has eased and, for certain raw materials, has even started to decline. Profitability is also being impro- ved by the ongoing cost efficiency improvements being implemented in production, primarily at our conversion plants in the Duni business area, but also on the basis of reduced inventories within the
All in all, I am proud of the Group's sustainability work, as well as the company's ability to manage a volatile market, while at the same time increasing both efficiency and trend sensitivity towards customers.
Robert Dackeskog,
President and CEO,
For additional information please contact:
+46 (0)40-10 62 00
magnus.carlsson@duni.com
+46 (0)76-819 83 26
katja.margell@duni.com
Box 237
SE-201 22 Malmö
Phone: +46 (0)40-10 62 00
www.dunigroup.com
Company registration number: 556536-7488
https://news.cision.com/duni-group/r/interim-report-january-1---september-30--2023,c3859327
https://mb.cision.com/Main/295/3859327/2379916.pdf
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