INTERIM REPORT FOR THE THIRD QUARTER 2024 NEW WAVE GROUP AB

INTERIM REPORT FOR THE THIRD QUARTER 2024 NEW WAVE GROUP AB

Benzinga
November 7, 2024

GOTHENBURG, Sweden, Nov. 7, 2024 /PRNewswire/ --

PERIOD 1 JULY - 30 SEPTEMBER 2024

Net sales amounted to SEK 2,308.3 million, which was 1% lower than last year (SEK 2,337.0 million). Currency changes affected net sales negatively by 3%.

Operating result amounted to SEK 312.8 (381.1) million.

Result for the period amounted to SEK 204.1 (270.9) million.

Earnings per share amounted to SEK 1.54 (2.04).

Cash flow from operating activities amounted to SEK 191.4 (173.3) million.

PERIOD 1 JANUARY - 30 SEPTEMBER 2024

Net sales amounted to SEK 6,701.4 million, which was 1% lower than last year (SEK 6,777.0 million). Currency changes affected net sales negatively by 1%.

Operating result amounted to SEK 799.7 (1,058.4) million.

Result for the period amounted to SEK 535.6 (752.7) million.

Earnings per share amounted to SEK 4.04 (5.67).

Cash flow from operating activities amounted to SEK 732.6 (210.3) million.

Equity ratio amounted to 60.7 (55.8)%.

Net debt to equity ratio amounted to 29.3 (40.2)%.

CEO COMMENTS

It is very reassuring that we continue to take market shares in a tough market.

July - September

Net sales in local currencies increased by 2%. It is very reassuring that we continue to take market shares in a tough market, although I am not at all satisfied with our results. As an example, in Sweden the Sportindex decreased by 1.5% during the third quarter and it was the 11th quarter in a row with negative figures. The home furnishing index was minus 9% in the quarter, even though it was also minus 1% in 2023, a total decrease of 10% compared to the third quarter of 2022. We also estimate that the Promo market declined by around 7-9%, confirming that it was indeed a very challenging quarter. Overall, however, we are in a very strong position and will continue with our market investments.

Operating result

Operating result decreased from SEK 381.1 million to SEK 312.8 million and the ...

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