Kährs Group's 2Q 2016 net sales totalled SEK 755 million ($89 million), an increase of 11% compared with the same period in 2015, as the company said in the press release received by Lesprom Network.
Continued solid growth in the Nordics and Europe segments, combined with a strong increase in sales in the Resilient Global segment contributed to the performance during the quarter.
2Q operating profit before depreciation, amortisation and non-recurring items (adjusted EBITDA) was SEK 84 million ($9.9 million), corresponding to an operating margin of 11.1%.
Operating profit before non-recurring items (adjusted EBIT) for the 2Q 2016 increased by 17% to SEK 61 million ($7.2 million), corresponding to 8.1%.
Consolidated profit for the 2Q 2016 was SEK 35 million ($4.1 million) and was positively affected primarily by an increase in operating profit and lower financing costs compared with the same period in 2015.
President and CEO Christer Persson comments: “Kährs Group continued its stable performance during the 2Q and as a result, the Group’s sales and profitability both developed positively in the period. In the Nordic region, the Swedish market reported the most favourable performance, though we also saw good sales growth in the US and in most of our major markets in Europe such as Germany, UK and Switzerland. The Resilient Global segment demonstrated robust growth during the quarter and rose 42% with strong underlying sales in the US and Germany.”
Kährs Holding AB is a world-leading flooring manufacturer in hardwood and resilient flooring with a number of strong brands in its product portfolio, including Kährs, Karelia and Upofloor.
