Posted May 17, 2018
Kährs Group’s 1Q 2018 net sales amounted to SEK 833 million ($95.5 million) an increase of SEK 51 million ($5.8 million), or 7% compared with the 1Q 2017, as the company said in the press release received by Lesprom Network.
Operating EBITA decreased 13% and totalled SEK 60 million ($6.9 million), corresponding to an operating margin of 7.2%. The decline is mainly due to a market valuation of FX Futures that had a negative impact on profit of SEK 11 million ($1.3 million).
Operating profit (EBIT) declined by SEK 3 million ($343,914), for the 1Q 2018, to SEK 60 million ($6.9 million), corresponding to 7.2%. Profit was positively affected by higher net sales, lower overhead and no items affecting comparability, SEK 0 million during the quarter. The negative impact on profit was primarily related to a lower gross margin and the market valuation of the company’s FX Futures.
Consolidated profit for the 1Q 2018 was SEK 14 million ($1.6 million), compared to SEK 45 million ($5.2 million) in the 1Q 2017.
Kährs Holding AB is a Europe-leading flooring manufacturer in hardwood and resilient flooring.