INTERIM REPORT FOR THE FIRST QUARTER JANUARY – MARCH 2009


January 1 – March 31, 2009

  • Brand sales (reported excluding VAT as of Q1 2009) increased by 9 percent to SEK 602 million (551).
  • The Group’s net sales increased by 19 percent to SEK 164.7 million (138.7).
  • The gross profit margin was 49.3 percent (51.9).
  • Operating profit increased by 3 percent to SEK 37.6 million (36.5).
  • Profit after tax increased by 8 percent to SEK 28.9 million (26.8).
  • Earnings per share increased by 7 percent to SEK 1.15 (1.07). Fully diluted earnings per share amounted to SEK 1.15 (1.07).

Comment from the President

“Developments during the first quarter show that despite a continued weak and uncertain market we see interest in the brand. At the same time we were positively affected by strong currency effects this quarter. In the strategic review we conducted this spring, we saw strong opportunities for our new vision: ‘to become the champion of fashion underwear.’ We will achieve this by being creative and innovative in terms of our range of underwear, but also by contributing to the profitability for our distributors and retailers,” 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

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