Empire Quarterly Report - Q3 2011

”Not good, but better than it looks” That's how CEO Per Björkman summarises Empire's situation after three quarters.


Stockholm, 2011-10-27 09:54 CEST (GLOBE NEWSWIRE) -- It is not good, that the demand in Sweden has weakened, that one of Empire’s biggest customers OnOff went bankrupt or that the reported consolidated earnings is negative and that the stock is too large.

But it is good, that a cost reduction plan has been launched, which will ultimately reduce administrative costs by 10 million, even though Q3 is burdened with a cost of 1.9 million SEK.

And it is good that the product portfolio has been expanded during the year with brands that should provide approx. 200 million SEK in annual sales.

And it is good that Finland and Denmark show strong growth. 

 

  • Sales totalled 82,9 MSEK (88,2), a decrease of 6% compared to the same period last year
  • Operating profit amounted to -3,9 MSK (2,2)
  • Adjusted* operating profit amounted to -2,3 MSEK (3,8)
  • Profit after financial items was -5,1 MSEK (0,3)
  • Cash flow after investments amounted to 2,9 MSEK (16,1)
  • Earnings per share was -0,37 kr (0,03)
  • Shareholders’ equity per share was 5,07kr (4,88)

 * excluding amortization of intangible assets


For further information contact: Per Björkman, CEO, +46 765 47 05 11, per.bjorkman@empire.se or Johanna Alm, CFO, +46 765 47 04 62, johanna.alm@empire.se.

About Empire:

Empire is a company that creates, acquires and markets home and household products for the consumer market. The range includes carbonating machines, household products and hair care products, including brands SodaStream, C3, BaByliss, Cuisinart and Salter. Since 1997, Empire marketed percolators, coffee makers and a host of other electrical products for home use under the brand name C3. The company is since May 2, 2011 listed on the OMX First North with Remium AB as Certified Adviser.


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