Duni net sales rise 4.7% in 2013

15 Feb '14

3 min read

Net sales amounted to SEK 1 102 m (1 031).Adjusted for exchange rate changes, net sales increased by 6.2%.

Earnings per share, after dilution, amounted to SEK 2.25 (-0.32).

Strong cash flow with historically low net debt (< SEK 500 m).1 January – 31 December 2013 Net sales amounted to SEK 3 803 m (3 669). Adjusted for exchange rate changes, net sales increased by 4.7%

Earnings per share, after dilution, amounted to SEK 5.68 (2.67).

The Board proposes a dividend of SEK 4.00 (3.50) per share.

CEO’s comments

“The concluding quarter of the year demonstrates growth and improvement in earnings within all business areas. Net sales for the quarter, measured at fixed exchange rates, amount to SEK 1,095 m (1,031), representing growth of 6.2% compared with last year. Operating income, before structural costs, increased by SEK 22 m and reached SEK 152 m (130).

The improvement is mainly attributable to strong Christmas sales and good capacity utilization at our production plants, but is also due to underlying improvements in our business areas. Cash flow remains strong and, at the end of the quarter, the net debt was SEK 491 m (638).

Following a slow start to the year, the sales trend has gradually strengthened. The new organization structure is contributing to more active working of the market and our position has strengthened on several markets and product segments.

The take-away range is continuing to expand within Professional, while within Consumer we are winning an increasing number of customer contracts. This development is to be seen in light of continued weak general demand in several regions. The European HoReCa markets have retreated some percentage points and as yet there are no clear signs of any improvement. The consumer market is somewhat more stable.

At fixed exchange rates, Professional increased its quarterly sales by SEK 36 m compared with last year. Net sales measured at fixed exchange rates were SEK 758 m (722), with growth primarily due to the acquisition of Duni Song Seng. Sales outside Europe are continuing to grow by double digits, albeit from low levels.

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