STOCKHOLM, Sweden, Feb. 19, 2002 (PRIMEZONE) -- New Wave Group: "The best year in New Wave Group's history":
-- During 2001, New Wave Group increased its sales with 20 percent
to 1,278.2 (1,063.4) M SEK.
-- The result after net financial items increased with 5 percent to
100.1 (95.1) M SEK. Excluding the SPP refund, the increase was 16
percent.
-- During Q4, sales increased with 30 percent to 366.6 (281.3) M SEK.
-- The result after net financial items for Q4 increased with 56
percent to 45.6 (29.2) M SEK.
-- The Profiling business area increased its sales with 12 percent
to 846.9 (755.6) M SEK. The result after net financial items
decreased with 7 percent to 75.8 (81.8) M SEK. Including the SPP
refund, the result after net financial items decreased with 12
percent to 75.8 (85.9) M SEK.
-- The Retailing business area increased its sales with 49 percent
to 459.9 (307.9) M SEK. The result after net financial items
increased with 223 percent to 24.2 (7.5) M SEK. Including the SPP
refund, the result after net financial items increased with 103
percent to 24.2 (11.9) M SEK.
-- The result after net financial items for January - December 2001
has been negatively affected by the subsidiaries in Spain, Great
Britain and France, as well as the newly established subsidiaries
Make Your Own Design in Scandinavia AB and Textwear A/S, with the
total amount of -26.5 M SEK.
-- In spite of continuous expansion, New Wave Group shows positive
cash flow after made investments during the period in question,
with 9.4 (-146.1) M SEK. This is mainly due to a positive change
of working capital, 1.1 (-205.3) M SEK.
-- The Board has decided to suggest that the Annual General Meeting
increases the dividend to 3.00 (2.50) SEK per share, totalling to
21.8 M SEK, as well as a split (2:1).
-- The Board is considering a new issue during the Spring 2002 of
100-150 M SEK to financially enable future expansion and
acquisitions.
-- The profit and sales will increase considerably during 2002.
Fourth Quarter
During October - December 2001, New Wave Group increased its sales with 30 percent to 366.6 (281.3) M SEK.
During October - December 2001, the result after net financial items increased with 16.4 M SEK to 45.6 (29.2) M SEK.
The result after net financial items during October - December has improved, due to a positive development of sales and a positively affected currency - in spite of negative influence by the subsidiaries in Spain, Great Britain and France, as well as Make Your Own Design in Scandinavia AB and Textwear A/S in Norway.
During October - December 2001, the gross profit margin increased to 47.4 (41.6) percent. Compared to Q3, this improvement is mainly due to larger net profits from Segerkoncernen AB and Sagaform AB, positive currency impact, as well as good development in general.
January - December 2001 Sales
During January - December 2001, New Wave Group increased its sales with 20 percent to 1,278.2 (1,063.4) M SEK. The Profiling business area increased its sales with 12 percent, while the Retailing business area increased its sales with 49 percent. Sales in the Swedish market increased with 18 percent to 750.7 (637.0) M SEK. Sales in the foreign markets increased with 24 percent to 527.5 (426.0) M SEK.
Result
During January - December 2001, the result after net financial items increased with 5 percent to 100.1 (95.1) M SEK. Compared to the preceding year, the result after net financial items, excluding the SPP refund of 8.5 M SEK, increased with 16 percent to 100.1 (86.6) M SEK.
The result after net financial items has been negatively affected with - 10.3 M SEK by the Spanish subsidiary. This is partly due to irregularities, but also the rebuilding of the organisation, as well as the time it has taken to reach focus on sales and profit again.
The result after net financial items has also been heavily affected by the newly established companies in Great Britain and France, as well as Make Your Own Design in Scandinavia AB and Textwear A/S in Norway, with an amount of -16.2 (0.9) M SEK. However, the positive development in other subsidiaries has lead to a good result for the Group as a whole.
Compared to the preceding year, the gross profit margin increased to 41.0 (38.8) percent.
The Group's external costs were unchanged and amounted to 16.4 (16.4) percent of the Group's sales. The personnel costs increased to 12.7 (10.7) percent of the Group's sales.
The increased share of invoiced sales for personnel costs is mainly due to investments made in Great Britain, Holland, France, Cyberwave AB (4yourlogo.com) and Make Your Own Design in Scandinavia AB.
The Profiling Business Area
During January - December 2001, the Profiling business area increased its sales with 12 percent to 846.9 (755.6) M SEK. The result after net financial items, in comparable figures, decreased with 7 percent to 75.8 (81.8) M SEK for January - December 2001. Including the SPP refund of 4.1 M SEK, the result after net financial items decreased with 12 percent to 75.8 (85.9) M SEK. The result of the Profiling business area after net financial items has been negatively affected by the subsidiaries in Spain, Great Britain and France, as well as Make Your Own Design in Scandinavia AB and Textwear A/S in Norway, with the total amount of -26.5 (3.9) M SEK.
The Retailing Business Area
During January - December 2001, the Retailing business area increased its sales with 49 percent to 459.9 (307.9) M SEK. The result after net financial items, in comparable figures, increased with 223 percent to 24.2 (7.5) M SEK. Including the allocated SPP refund of 4.4 M SEK, the result after net financial items increased to 24.2 (11.9) M SEK. The increased result is mainly due to the considerably improved result of Craft of Scandinavia AB, general good development during Q4, as well as the incorporation of Sagaform AB and Segerkoncernen AB.
Taxes
The Group's taxes have been positively influenced by the acquisition of Dressmart AB. The postponed claims that were part of the acquisition have affected the result of Q4 negatively.
Forthcoming Information
-- The report for January - March 2002 will be published on 7 May.
-- The Annual General Meeting will take place on 28 May 2002.
-- The report for January - June 2002 will be published on 20 August.
-- The report for January - September 2002 will be published on
31 October.
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The following files are available for download:
www.waymaker.net/bitonline/2002/02/19/20020219BIT00040/bit0001.doc The full year-end report www.waymaker.net/bitonline/2002/02/19/20020219BIT00040/bit0001.pdf The full year-end report