STOCKHOLM, Sweden, May 7, 2002 (PRIMEZONE) -- New Wave Group AB (publ):
- During January - March 2002, New Wave increased its sales by 22 percent and to SEK 327.6 (267.9) million. - The result after financial items decreased by SEK 11.7 to -2.9 (8.8) millions, of which acquired units (which mainly have earning ability during the 4:2 quarter) accounted for SEK -3.6 million. - The Profiling business area increased its sales by 5 percent to SEK 181.3 (172.5) million. The result after financial items decreased by SEK 12.8 million to SEK -7.4 (5.4) million. Acquired units accounted for SEK -3.5 million. Sales during March were much worse than expected, mainly in Sweden and Germany. Sales during April were much better. - The Retailing business area increased its sales by 53 percent to SEK 146.3 (95.4) million. The result after financial items increased by SEK 1.1 million to SEK 4.5 (3.4) million. - The cash flow, after a change in operating capital, amounts to SEK -11.6 (-61.5) million. - The Board has decided to suggest to the annual general meeting that the dividend should be SEK 3.00 (2.50) per share, totalling to SEK 21.8 million and split 2:1. - The Board has decided to withdraw its suggestion of a new issue to the annual general meeting. The cause is the current state of the market, as well as the fact that no new capital from the shareholders is necessary for now. - Through the season changes in the acquired companies, as well as the increased turbulence in the market, the second and fourth quarter have a greater impact on the result for the whole year. - Since Easter, the sales have got a new start after the difficulties during March. In New Wave's judgement, the economic situation is still very shaky, but the prognosis of sales of SEK 1.6-1.8 million as well as a result that is better than the result of the preceding year remains.
SALES
During January - March 2002, New Wave's sales increased by 22 percent to SEK 327.6 (267.9) million.
For the Profiling business area, sales increased by 5 percent. March was a tough month for the Profiling business area, mainly in Sweden and Germany. The Retailing business area's sales increased by 53 percent.
Sales in the Swedish market increased by 35 percent and amounted to SEK 218.2 (161.2) million.
Sales in the foreign markets increased by 3 percent and amounted to SEK 109.4 (106.7) million.
RESULT
During January - March 2002, the result after financial items decreased by SEK 11.7 million and amounted to SEK -2.9 (8.8) million.
The result after financial items has been negatively affected by SEK 3.6 million by acquired units that mainly have their earning ability during the fourth quarter.
The gross profit margin increased, compared to the preceding year and amounted to 41.8 (38.3) percent. This improvement from the first quarter of the preceding year is mainly due to larger gross profit from Segerkoncernen (which was acquired on 1 September, 2001), Craft and the subsidiaries in Spain and Holland.
The Group's external costs as part of sales increased and amounted to 21 (18) percent of the Group's sales. The personnel costs increased and amounted to 16 (13) percent of the Group's sales.
The increased share of external and personnel costs in relation to sales can, compared to the preceding year, mainly be referred to acquired companies as well as New Wave's new operations abroad.
Depreciations have increased by SEK 3.9 million to Sek 9.2 million, of which SEK 2.0 million is goodwill depreciations and SEK 1.9 million other fixed assets; mainly acquired units.
FOR MORE INFORMATION, PLEASE CONTACT:
Vice President Torsten Jansson Phone: +46 (0) 708 99 80 50, +46 (0) 33 22 58 55 E-mail: torsten.jansson@nwg.se Executive Vice President Goran Harstedt Phone: +46 (0) 708 99 80 17, +46 (0) 22 58 63 E-mail: goran.harstedt@nwg.se Chief Financial Officer Krister Magnusson Phone: +46 (0) 708 99 80 21, +46 (0) 33 22 58 54 E-Mail: krister.magnusson@nwg.se
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
www.waymaker.net/bitonline/2002/05/07/20020507BIT00610/wkr0001.doc The full report www.waymaker.net/bitonline/2002/05/07/20020507BIT00610/wkr0002.pdf The full report