Fourth quarter, October 1 – December 31, 2009
- Brand sales (excluding VAT) decreased by 11 percent to SEK 422 million (476).
- The Group’s net sales decreased by 22 percent to SEK 102.2 million (131.2).
- The gross profit margin increased to 55.7 percent (54.1).
- Operating profit decreased to SEK 19.4 million (26.0).
- Profit after tax decreased to SEK 13.5 million (22.8).
- Earnings per share decreased to SEK 0.54 (0.91). Fully diluted earnings per share amounted to SEK 0.53 (0.91).
- A letter of intent has been signed to license out the foowear product area.
The period January 1 – December 30, 2009
- Brand sales (excluding VAT) increased slightly to SEK 1,976 million (1,971).
- The Group’s net sales decreased by 1 percent to SEK 519.9 million (526.6).
- The gross profit margin decreased to 51.3 percent (53.8).
- Operating profit decreased to SEK 112.6 million (128.8).
- Profit after tax decreased to SEK 80.9 million (99.2).
- Earnings per share decreased to SEK 3.22 (3.96). Fully diluted earnings per share amounted to SEK 3.21 (3.96).
- The Board of Directors has decided to recommend that the Annual General Meeting approve a dividend of SEK 5.00 (1.50) per share.
Comment from the President
“In the fourth quarter we saw the same cautiousness in the market that we had earlier in the year, at the same time that exchange rate effects are no longer compensating for weaker sales. For 2009 as a whole, we can nevertheless say that the Björn Borg brand stood firm and that the Group is well-prepared for further expansion. The year was distinguished by intense efforts to adapt the entire business to our new vision to be the best in fashion underwear. In 2010 we will see the effects of the measures we have now taken, including in the form of a wider assortment and several new products,” said Arthur Engel.