Changes to the business area reporting
Nobia will adjust its business area reporting following changes to the organisation. As of the first quarter of 2022, the London-based premium brands Commodore and CIE will be transferred from the UK region to the Central Europe region. At the same time, the Central Europe region will be renamed to “Portfolio Business Units”. Commodore and CIE had combined net sales of SEK 395m and an operating loss of SEK -14m in 2021.
With a greater focus on the Magnet brand in the UK going forward, a decision has been made to organisationally separate Commodore and CIE from the UK region. This change will enable the regional UK management to concentrate on the Magnet brand and the Wickes OEM business. Commodore and CIE serve a very specific international customer base with a core focus on premium high-rise in central London. Given that a large share of kitchens sold are sourced from external suppliers, few synergies in terms of supply chain, customers and administration exist within the rest of the UK business.
After the change, Portfolio Business Units will consist of the independent businesses Bribus (the Netherlands), Ewe (Austria), Superfront (Sweden) and now also Commodore and CIE (UK), and will be headed by Philip Sköld in addition to his role as EVP Strategy and Transformation.
Refer to next page, or to the attached Excel file, for a restatement of the business area reporting 2019 – 2021 according to the above-mentioned change.