- The Group’s net sales decreased by 6 percent to SEK 160.2 million (171.0). Excluding currency effects, sales were unchanged.
- The gross profit margin was 50.6 percent (52.6). The change is attributable to the operations of Björn Borg Sport.
- Operating profit amounted to SEK 33.0 million (51.5). Investments in Björn Borg Sport and the British operations have reduced operating profit according to plan by SEK 5.1 million.
- Profit after tax amounted to SEK 24.1 million (36.7).
- Earnings per share amounted to SEK 1.05 (1.46). Fully diluted earnings per share amounted to SEK 1.05 (1.44).
- Brand sales* (excluding VAT) increased by 9 percent to SEK 551 million (507). Excluding currency effects, sales increased by 11 percent.
JANUARY 1 – SEPTEMBER 30, 2011
- The Group’s net sales decreased by 2 percent to SEK 413.4 million (420.1). Excluding currency effects, sales rose by 5 percent.
- The gross profit margin was 51.2 percent (52.8). The change is attributable to the operations of Björn Borg Sport.
- Operating profit amounted to SEK 69.6 million (101.5). Investments in Björn Borg Sport and the British operations have reduced operating profit according to plan by SEK 13.6 million.
- Profit after tax amounted to SEK 51.2 million (73.2).
- Earnings per share amounted to SEK 2.27 (2.91). Fully diluted earnings per share amounted to SEK 2.26 (2.87).
- Brand sales* (excluding VAT) decreased by 1 percent to SEK 1,297 million (1,305). Excluding currency effects, sales increased by 4 percent.
QUOTE FROM THE CEO
“Our brand sales increased by 9 percent during the quarter, and the share generated by smaller markets is growing, in line with our strategy. It is a positive thing that the brand is holding its own in today’s tough market climate. Sales and profit were affected by our forward-looking investments as well as by inventory corrections by our partners after generally weaker-than-expected sales in 2011,” said CEO Arthur Engel.
For further information, please contact:
Arthur Engel, President and CEO, telephone +46 8 506 33 700
Magnus Teeling, CFO, telephone +46 8 506 33 700
Björn Borg is required to make public the information in this report in accordance with the Securities Market Act. The information was released for publication on November 10, 2011 at 7:30 am (CET).
