Strong second quarter with sales growth, improved earnings and strong cash flow.
"We continue the year with delivering strong revenue growth of 13% and improved earnings also during the second quarter 2024. However, this should be compared to weak performance in the year-earlier quarter. The trend was primarily driven by two of our Brands, Boråstapeter and Artscape, but also Manufacturing increased their external revenue significantly. During our first Capital Markets Day in May, we introduced an updated, Brand focused strategy and new long term financial growth target."
Olle Svensk, CEO, Embellence Group AB
Second quarter 2024
- Net sales amounted to MSEK 191 (170), up 13%. Organic growth amounted to 12%. The exchange rate effect amounted to 1%.
- The gross margin amounted to 60.1% (61.4)
- Operating income (EBITA) amounted to MSEK 25 (15),up 63%.
- The EBITA margin amounted to 13.0% (8.9).
- Net profit for the period amounted to MSEK 13 (-2) and earnings per share for the period before dilution to SEK 0.56 (-0.10).
- Operating cash flow amounted to MSEK 43 (12).
Significant events during the quarter
- On 21 May, Embellence Group introduced an updated strategy and new long-term targets.
Significant events after the end of the quarter
- No significant events to report.
For more information, please contact:
Karin Lidén
CFO
Telephone: +46 704 29 30 57
Email: ir@embellencegroup.com
About Embellence Group
Embellence Group, founded in 1905, is a leading European company in interior decoration with a focus on premium brands in the wallpaper segment, complimented by other color and pattern driven interior decoration such as textiles and rugs. Our products are sold in more than 100 markets around the world.
At Embellence Group, we believe that environments affect our thoughts and feelings, whether we are at home, at work or on the go. Our ambition is to impact our surroundings through the power of the unique design that our brands Boråstapeter, Cole & Son, Wall&decò, Pappelina and Artscape offer.
Embellence Group is listed on Nasdaq First North Premier Growth Market. FNCA Sweden AB is appointed Certified Adviser, info@fnca.se.
This information is information that Embellence Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-18 08:00 CEST.
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