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INTERIM REPORT FOR THE SECOND QUARTER 2024 NEW WAVE GROUP AB

GOTHENBURG, Sweden, Aug. 15, 2024 /PRNewswire/ -- PERIOD 1 APRIL - 30 JUNE 2024 Net sales amounted to SEK 2,397.9 million, which was 4% higher than last year (SEK 2,304.5 million). Currency changes affected net sales positively by 1%. Operating result amounted to SEK 301.2 (363.9) million. Result for the period amounted to SEK 210.3 (259.6) million. Earnings per share amounted to SEK 1.59 (1.96). Cash flow from operating activities amounted to SEK 337.5 (230.1) million. PERIOD 1 JANUARY - 30 JUNE 2024 Net sales amounted to SEK 4,393.1 million, which was 1% lower than last year (SEK 4,440.0 million). Acquired business affected net sales by 1%. Operating result amounted to SEK 486.8 (677.3) million. Result for the period amounted to SEK 331.4 (481.8) million. Earnings per share amounted to SEK 2.50 (3.63). Cash flow from operating activities amounted to SEK 541.1 (37.0) million. Equity ratio amounted to 60.2 (54.9) %. Net debt to equity ratio amounted to 30.3 (42.8) %. CEO COMMENTS A strong cash flow and continued market investments lead to increased market shares and growth once again! The quarter The market was considerably weaker than we had previously assessed. That assessment was made based on a potential interest rate cut and possible future interest rate cuts which would boost sales, however that was not the case. Our current evaluation is that the promo market decreased by 5-10% depending on the country and that the retail trade continued to experience similar challenges and reductions. We foresee a temporary weakness in the market and will continue our market investments as opportunity to take market ...