KappAhl Year End report: A year marked by hard competition and focus on change
"KappAhl’s activities in the full year 2018/19 have been marked by intensive work to meet hard competition and declining footfall. They were also characterised by development to adapt to the industry’s transformation, in both the short and long-term.”
Read the full CEO statement in the report.
- Sales in the quarter increased by 6.7 per cent to SEK 1 322 (1 239) million. For the full year, September-August, sales increased by 3.0 per cent to SEK 4 901 (4 760) million.
- Gross margin for the quarter was 56.8 (59.2) per cent. For the full year, September-August, it was 59.5 (61,8) per cent.
- Operating profit for the quarter increased to SEK 108 (66) million. For the full year, September-August, it was SEK 168 (282) million. Adjusted for non-recurring costs of SEK 43 million the operating profit was SEK 211 (282) million.
- During the quarter KappAhl's majority owner, Mellby Gård AB, submitted a public takeover bid to all KappAhl’s shareholders. On October 7, Mellby Gård AB declared the offer unconditional and to be fulfilled since Mellby Gård AB controls more than 90 percent of the KappAhl shares. Mellby Gård also announced that they will work to delist the KappAhl shares from Nasdaq Stockholm.
| Fourth Quarter (June-August) | Twelve months (Sep-Aug) | |||||||
| 2018/2019 | 2017/2018 | Change | 2018/2019 | 2017/2018 | Change | |||
| Net sales, SEK million | 1 322 | 1 239 | 83 | 4 901 | 4 760 | 141 | ||
| Gross margin, % | 56,8 | 59,2 | -2,4 | 59,5 | 61,8 | -2,3 | ||
| Operating profit/loss, SEK million | 108 | 66 | 42 | 168 | 282 | -114 | ||
| Operating margin, % | 8,2 | 5,3 | 2,9 | 3,4 | 5,9 | -2,5 | ||
| Adjusted operating profit/loss, SEK million | 108 | 66 | 42 | 211 | 282 | -71 | ||
| Adjusted operating margin, % | 8,2 | 5,3 | 2,9 | 4,3 | 5,9 | -1,6 | ||
| Profit after tax, SEK million | 96 | 49 | 47 | 141 | 224 | -83 | ||
| Earnings per share, SEK | 1,25 | 0,64 | 0,61 | 1,83 | 2,92 | -1,09 | ||
| Cash flow from operating activities, SEK million | 36 | -47 | 83 | 201 | 294 | -93 | ||
This information is information that KappAhl AB is obliged to disclose pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was released for public disclosure, through the agency of President and Chief Executive Officer Elisabeth Peregi on 9 October 2019 at 07.30 CET.
For more information:
Elisabeth Peregi, President and CEO. Tel +46 704 71 56 31.
Peter Andersson, Chief Financial Officer. Tel. +46 703 31 55 70.
Charlotte Högberg, Head Corporate Communications. Tel. +46 704 71 56 31. Email charlotte.hogberg@kappahl.com.
KappAhl was founded in Gothenburg in 1953 and is a leading fashion chain in the Nordic region with 380 KappAhl and Newbie stores, including Shop Online, in Sweden, Norway, Finland, Poland and Great Britain. Our business idea is to offer value-for-money fashion of our own design to the many people. Sustainability-labeled fashion accounts for 58 per cent of the range. Sales for 2018/2019 totaled SEK 4.9 billion and the company has approx. 4,000 employees in ten countries. KappAhl is quoted on Nasdaq Stockholm. More information at www.kappahl.com
Download file: 191009 KappAhl Year End report: A year marked by hard competition and focus on change