2012 in brief
- Nobia’s net sales amounted to SEK 12,343 million (13,114)
- Organic growth was negative 5 per cent (neg: 2)
- Operating profit excluding restructuring costs of net SEK 839 million (334) amounted to SEK 565 million (518)
- Loss after tax amounted to negative SEK 543 million (69)
- Operating cash flow amounted to SEK 237 million (9)
- The Board of Directors proposes a dividend of SEK 0.50 per share
In February, the window supplier Oakworth Joinery went bankrupt, which meant lower sales of both windows and kitchens for Magnet Trade. Nobia established a business relationship with a new window supplier during the autumn.
Beginning in the second quarter, the Group-wide range was introduced in Magnet stores. At year-end almost the entire range had been introduced to the stores in the UK.
Weaker demand was counteracted by cost savings and a reduction of the workforce, primarily in the Magnet store network.
The surface treatment and manufacturing of kitchen doors in Älmhult were moved to the plant in Tidaholm. This relocation took place gradually and was completed in November. Since 2009, the brand-independent Tidaholm factory has doubled its production volumes.
The Group-wide product range was introduced in all business units in the mid-price segment in Denmark, Sweden and Norway, i.e. HTH, Invita, Marbodal, Myresjökök, Norema and Sigdal.
HTH increased its sales to professional customers as a result of targeted efforts to this segment as well as a public funding programme for the renovation of social housing in Denmark.
Continental Europe region
In Hygena, a total of 40 stores were refurbished, while staff were trained and a partly new range was introduced. These efforts generated results in increased sales efficiency. At the same time, 17 stores were closed and the number of employees was reduced.
A decision was made to relocate the production of Hygena products from Stemwede in Germany to the company's production facilities in the UK. Nobia's remaining operations in Stemwede are planned to be divested to the local management team of Optifit.
Poggenpohl's management launched a new marketing plan and a new store concept. Poggenpohl's offering was also adapted to a wider audience.
Latest update: 19 February 2013