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    NEWA B   SE0000426546

NEW WAVE GROUP AB (PUBL)

(NEWA B)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 10/21 11:30:01 am
139.7 SEK   +1.82%
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New Wave : INTERIM REPORT FOR THE SECOND QUARTER 2021 NEW WAVE GROUP AB

08/17/2021 | 01:01am EDT

PERIOD 1 APRIL - 30 JUNE 2021

  • Net sales amounted to SEK 1,486.8 million, which was 13% (18% in local currencies) higher than last year (SEK 1,314.5 million).
  • Operating result amounted to SEK 241.3 (110.1) million.
  • Result for the period amounted to SEK 187.7 (72.9) million.
  • Earnings per share amounted to SEK 2.84 (1.11).
  • Cash flow from operating activities amounted to SEK 185.3 (251.4) million.

PERIOD 1 JANUARY - 30 JUNE 2021

  • Net sales amounted to SEK 2,748.4 million, which was on par with last year (SEK 2,755.4 million) but 6% higher in local currencies.
  • Operating result amounted to SEK 341.5 (86.0) million.
  • Result for the period amounted to SEK 255.4 (35.9) million.
  • Earnings per share amounted to SEK 3.88 (0.57).
  • Cash flow from operating activities amounted to SEK 552.5 (366.0) million.
  • Equity ratio amounted to 58.9 (47.9) %.
  • Net debt to equity ratio amounted to 31.2 (69.9) %.

 
CEO COMMENTS

APRIL-JUNE

Yet another record result

The COVID-19 pandemic is still a concern, even though we see a much stronger market than before. The eased restrictions for events, sports and audiences etc. contribute to this.

Net sales for the quarter increased by 13% compared to the previous year and amounted to SEK 1,486.8 million and even though our focus is primarily on results, it is still nice to be back on track with growth. The sales growth in local currencies amounted to 18%, which is very good.

The operating result for the quarter was record strong and increased from SEK 110.1 million to SEK 241.3 million. The government support received by the Group amounted to SEK 51.2 million, which was SEK 7.1 million more than the previous year. A very strong gross profit margin and good cost control are the main factors behind the increased results. The operating margin amounted to 16.2%, which is a fantastic performance.

For a rolling twelve months, net sales once again exceed SEK 6 billion and amounted to SEK 6,091.7 million. The operating result for the same period amounted to SEK 801.3 million, with an operating margin slightly above 13%. Since we signaled that we would focus primarily on the operating margin, it has increased radically. An operating margin of 13% for a rolling twelve months can be compared with 9% for the full year 2020 and 8% for 2019.

BALANCE SHEET

The balance sheet has continued to strengthen and the equity ratio now amounts to 58.9%. Net debt to credit institutes amounts to SEK 593.5 million, which gives us an available credit of over SEK 2.2 billion and our equity amounts to almost SEK 4.2 billion.

Cash flow from operating activities continued to be strong and amounted to SEK 185.3 million for the quarter.

JANUARY-JUNE

Net sales for the first half of the year were on par with the previous year, but 6% higher in local currencies. The operating result was record strong and increased to SEK 341.5 (86.0) million - the highest operating result ever - and the operating margin amounted to 12.4%. Cash flow from operating activities before changes in working capital amounted to SEK 306.1 million and SEK 552.5 million after changes in working capital.

THE FUTURE

I still think it is hard to make short-term assessments. As it looks right now we believe in a continued good sales recovery during the fall, but new outbreaks of the delta virus for example in China are worrisome. In the long term, I am more convinced than ever of very good development. We have an extremely good and experienced management team, our brands continue to strengthen, we have fantastic staff and an incredibly strong balance sheet.

During the fall we will face two strong quarters from the previous year in terms of results.

Again, I would like to end by thanking all employees for an absolutely amazing job. I am proud and happy to lead you! I would also like to thank all customers for believing in us, our products and brands and of course all consumers and companies that buy our products! Thank you!

Together we stand stronger than ever to face an exciting future!

We have every opportunity to do something really good going forward!

Torsten Jansson, CEO
 

FOR MORE INFORMATION, PLEASE CONTACT:

CEO and Group CEO
Torsten Jansson
Phone: +46 31-712 89 01
E-mail: torsten.jansson@nwg.se

CFO
Lars Jönsson
Phone: +46 31-712 89 12
E-mail: lars.jonsson@nwg.se

This information is information that New Wave Group AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication, through the agency of the contact persons detailed above, at 7.00 a.m. CET on August 17, 2021.

If you want to sign up for, or unregister from, future messages from New Wave Group, please send an email to info@nwg.se.

https://news.cision.com/new-wave-group/r/interim-report-for-the-second-quarter-2021-new-wave-group-ab,c3397087

https://mb.cision.com/Main/932/3397087/1454609.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 6 508 M 757 M 757 M
Net income 2021 680 M 79,1 M 79,1 M
Net Debt 2021 1 240 M 144 M 144 M
P/E ratio 2021 13,6x
Yield 2021 2,58%
Capitalization 9 262 M 1 077 M 1 077 M
EV / Sales 2021 1,61x
EV / Sales 2022 1,46x
Nbr of Employees 2 036
Free-Float 70,3%
Chart NEW WAVE GROUP AB (PUBL)
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Technical analysis trends NEW WAVE GROUP AB (PUBL)
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 1
Last Close Price 139,60 SEK
Average target price 165,00 SEK
Spread / Average Target 18,2%
EPS Revisions
Managers and Directors
Ulf Torsten Jansson President, Chief Executive Officer, Director & MD
Lars J÷nsson Chief Financial Officer
Olof Persson Chairman
Patric Broman Chief Information Officer
Mats ┼rjes Independent Director
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