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2007 12-17 Q1 2007/2008 Results
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2007 12-17 Q1 2007/2008 Results

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  • 1. 1
  • 2. First quarterSeptember 1 to November 30, 2007 Best Q1 so far Christian W. Jansson, President & CEO Håkan Westin, CFO 2
  • 3. 3
  • 4. DisclaimerThese materials may not be copied, published,distributed or transmitted to third parties.These materials may contain forward-lookingstatements. If so, such statements are based on ourcurrent expectations and are subject to risks anduncertainties that could negatively affect ourbusiness. Please read our earnings report and ourmost recent annual report for a better understandingof these risks and uncertainties.These materials do not constitute or form part of anyoffer or invitation to sell or issue, or any solicitationof any offer to purchase or subscribe for, anysecurities, nor shall part, or all, of these materials ortheir distribution form the basis of, or be relied on inconnection with, any contract or investment decisionin relation to any securities. These materials and theinformation contained herein are not an offer ofsecurities for sale in the United States and are notfor publication or distribution to persons in theUnited States. 4
  • 5. 5
  • 6. Number of stores 279 stores end November 133 43 2007 34 new stores under contract 85 18 6
  • 7. 7
  • 8. Financial highlights Q1 September 1 – November 30, 2007Net sales MSEK 1,247 (1,189), an increase of 4.9 percent.Operating profit MSEK 206 (186), an increase of 10.8percent.Gross margin 63.9 (62.2) percent and operating margin16.5 (15.6) percent.Profit after taxes MSEK 138 (123), equivalent SEK 1.84(1.64) per share.Cash flow from operating activities MSEK 196 (209). 8
  • 9. 9
  • 10. Income statement Q1MSEK Sept-Nov 07/08 06/07Net sales 1 247 1 189Cost of goods sold -450 -449Gross profit 797 740Selling expenses -558 -513Administrative expenses -33 -37Operating profit 206 186Financial income 3 2Financial expense -18 -16Profit before tax 191 172Tax expense -53 -49Net profit 138 123 10
  • 11. 11
  • 12. Sales Q1 MSEK %Net sales Q1 2006/2007 1 189Currency effect +2.1New net stores +1.2Like For Like growth +1.6Net sales Q1 2007/2008 1 247 +4.9Stable growthGrowth from new stores will increase 12
  • 13. 13
  • 14. Sales breakdown, Q1 GrowthMSEK 07/08 07/06 SEK Loc.cur.Sweden 701 683 2.6% 2.6%Norway 359 333 7.8% 0.8%Finland 137 130 5.4% 4.7%Poland 51 43 18.6% 13.2%Total 1 247 1 189 4.9% Poland Finland 4% (4%) 11% (11%) Sweden Norway 56% 29% (57%) (28%) 14
  • 15. 15
  • 16. Profitability drivers Q1(excl one-offs) 2007/2008Sales 105%Gross profit 108%Costs 107%Operating income 111% r Best Q1 so fa 16
  • 17. 17
  • 18. Key conclusions Stable sales development Further improved gross margin Strong operating margin 18
  • 19. 19
  • 20. Future approach Maintain gross margin Continue store expansion program Continue refurbishment of existing stores Evaluate a fifth market 20
  • 21. 21
  • 22. We don’t believe in selling a lifestyle. You have one already. We don’t believe in expensive collections for an exclusive few.We believe in fashion that suits you. We don’t believe in eternal youth, however we believe that people mature, grow wiser and even more beautiful. Take it as a compliment. 22
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