- Brand sales (excluding VAT) increased by 1 percent to SEK 386 million (382).
- The Group’s net sales increased by 2 percent to SEK 97.8 million (95.8).
- The gross profit margin decreased to 50.9 percent (55.9).
- Operating profit decreased to SEK 12.1 million (16.5).
- Profit after tax decreased to SEK 8.4 million (12.0).
- Earnings per share decreased to SEK 0.34 (0.48). Fully diluted earnings per share amounted to SEK 0.33 (0.48).
January 1 – June 30, 2009
- Brand sales (excluding VAT) increased by 6 percent to SEK 988 million (932).
- The Group’s net sales increased by 12 percent to SEK 262.5 million (234.6).
- The gross profit margin decreased to 49.9 percent (53.5).
- Operating profit decreased to SEK 49.7 million (53.0).
- Profit after tax decreased to SEK 37.3 million (38.8).
- Earnings per share decreased to SEK 1.49 (1.55). Fully diluted earnings per share amounted to SEK 1.49 (1.54).
After the conclusion of the period
- In August an agreement was signed with a new distributor for the German market.
- The distribution agreement in England has been terminated effective August 19, 2009 and extends for an additional two years.
Comment from the President
“The Björn Borg brand continues to develop stably. The lower result of the quarter is affected by further investments in the U.S market. At the same time we are maintaining good control of our overall costs despite staying on the offensive. During the quarter we implemented changes in line with Björn Borg’s new strategy, which places a greater focus on underwear. We are adapting the organization and, among other things, have recruited a creative director. We are also continuing to evaluate our partners and have recently signed a new distribution agreement for Germany,” says President Arthur Engel.
For further information, please contact
Arthur Engel, President and CEO, telephone +46 8 506 33 700
Johan Mark, CFO, telephone +46 8 506 33 700
Björn Borg AB
Götgatan 78
SE-118 30 Stockholm, Sweden
http://www.bjornborg.com
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 August 20, 2009 at 7:30 a.m. (CET).
