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27 Apr 2006

Nobia: Increased growth and improved profit

The kitchen company Nobia increased its net sales in the first quarter by 27 per cent to SEK 3,615 million (2,854). Organic growth amounted to 14 per cent. Net profit rose by 38 per cent and earnings per share amounted to SEK 2.97 (2.15). The operating margin strengthened to 7.7 per cent (7.1). <br /> Operating cash flow totalled SEK 202 million (11).

Operating profit for the quarter increased by 38 per cent to SEK 278 million (202). The improved operating profit can be attributed to strengthened market positions in several of Nobia's primary markets, combined together with greater demand and improved efficiency in several units. All regions improved their operating profit, with the most significant improvement in the Nordic operations. The acquired French company Hygena contributed positively to earnings per share.
 
Comments from the CEO:
"We have had a favourable start to 2006 and the European kitchen market is currently in an exciting phase," says President and CEO Fredrik Cappelen. "The market in the UK stabilised and our operations recorded improved profits. Our Nordic operations are continuing to demonstrate solid growth and in Continental Europe, our acquisition of the French chain Hygena strengthened operating profit."
 
 
Nobia Group Summary
 
 
Classification of pensions has been changed, see Accounting Principles, page 7.
 
 
The full report with tables can be downloaded from the following link:   
Increased growth and improved profit
Nobia is Europe's leading kitchen interiors company. The Group works with strong brands in several European markets. Sales are mainly through specialised kitchen studios, managed internally or through franchises. Nobia leads the consolidation of the European kitchen industry and, by using an industrial approach, creates profitable growth by implementing greater efficiency and making acquisitions. In 2004, the Group reported sales of SEK 11.3 billion and had approximately 6,700 employees. Nobia is listed on the O-List of the Stockholm Stock Exchange.

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