Strong gross margin    Sept 2009 – May 2010
Agenda                           • Q3 2009/2010Christian W. Jansson CEO   • Q1-Q3 2009/2010                           • Ma...
Highlights• Strong start in Q3• Cold spring• Strong gross margin• Stable profit despite weak sales
Campaigns during period              TV
Stores May 2010• 344 stores                          153                        56• 25 new stores so                     9...
Financial highlights, Q3March - May 2010• Net sales MSEK 1 221 (1 206), an  increase of 1,2 percent• Operating profit MSEK...
Income statement, Q3March - May 2010 MSEK                      2009/10   2008/09 Net Sales                   1 221     1 2...
Sales, Q3March - May 2010                       MSEK     %Net sales Q3 2008/09   1 206New stores net                 5,3Li...
Financial highlights, Q1-Q3Sept 2009 - May 2010• Net sales MSEK 3 821 (3 640), an  increase of 5,0 percent• Operating prof...
Income statement, Q1-Q3Sept 2009 - May 2010 MSEK                      2009/10   2008/09 Net Sales                   3 821 ...
Cash flow, Q1-Q3Sept 2009 - May 2010MSEK                                   2009/10   2008/09Cash flow from continuing     ...
Sales, Q1-Q3Sept 2009 - May 2010                          MSEK     %Net sales Q1-Q3 2008/09   3 640New stores net         ...
Sales breakdown, Q1-Q3 Sept 2009 - May 2010                                        Change     LocalMSEK              2009/...
Present market situation• General economy is improving• Future development of the economy is  uncertain• Still high level ...
Five year summary – Sales growth8,0%7,0%6,0%5,0%4,0%3,0%2,0%1,0%0,0%       04/05   05/06   06/07   07/08   08/09   09/10 LTM
Five year summary – Gross margin63,0%62,0%61,0%60,0%59,0%58,0%57,0%56,0%        04/05   05/06   06/07   07/08   08/09   09...
Five year summary – Operating margin                        excl. one-offs16,0%14,0%12,0%10,0%8,0%6,0%4,0%2,0%0,0%        ...
Five year summary –           Return on capital/employed30,0%25,0%20,0%15,0%10,0%5,0%0,0%        04/05   05/06   06/07   0...
Our road ahead• Maintain strong gross margin• Continued expansion of stores• More focus on increased sales in  existing st...
DisclaimerThese materials may not be copied, published, distributed ortransmitted to third parties.These materials may con...
Autumn 2010
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2010 06-23 Q3 2009/2010 Results

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2010 06-23 Q3 2009/2010 Results

  1. 1. Strong gross margin Sept 2009 – May 2010
  2. 2. Agenda • Q3 2009/2010Christian W. Jansson CEO • Q1-Q3 2009/2010 • Market situation • Conclusions • QuestionsHåkan Westin, CFO
  3. 3. Highlights• Strong start in Q3• Cold spring• Strong gross margin• Stable profit despite weak sales
  4. 4. Campaigns during period TV
  5. 5. Stores May 2010• 344 stores 153 56• 25 new stores so 95 far this year Oslo Helsinki Stockholm• 49 new stores under contract Warsaw 39 Prague 1
  6. 6. Financial highlights, Q3March - May 2010• Net sales MSEK 1 221 (1 206), an increase of 1,2 percent• Operating profit MSEK 112 (109), an increase of 2,8 percent• Gross margin 64,6 (60,4) percent and operating margin 9,2 (9,0) percent
  7. 7. Income statement, Q3March - May 2010 MSEK 2009/10 2008/09 Net Sales 1 221 1 206 Cost of goods sold -432 -478 Gross profit 789 728 Selling expenses -639 -587 Administrative expenses -38 -32 Operating profit 112 109 Financial income 0 0 Financial expense -24 -23 Profit before tax 88 86 Tax expense -23 -24 Net profit 65 62
  8. 8. Sales, Q3March - May 2010 MSEK %Net sales Q3 2008/09 1 206New stores net 5,3Like For Like -1,8Currency effect -2,3Net sales Q3 2009/10 1 221 1,2
  9. 9. Financial highlights, Q1-Q3Sept 2009 - May 2010• Net sales MSEK 3 821 (3 640), an increase of 5,0 percent• Operating profit MSEK 395 (350), an increase of 12,8 percent• Gross margin 62,5 (61,0) percent and operating margin 10,3 (9,6) percent
  10. 10. Income statement, Q1-Q3Sept 2009 - May 2010 MSEK 2009/10 2008/09 Net Sales 3 821 3 640 Cost of goods sold -1 433 -1 420 Gross profit 2 388 2 220 Selling expenses -1 884 -1 766 Administrative expenses -109 -104 Operating profit 395 350 Financial income 1 1 Financial expense -65 -61 Profit before tax 331 290 Tax expense -54 -81 Net profit 277 209
  11. 11. Cash flow, Q1-Q3Sept 2009 - May 2010MSEK 2009/10 2008/09Cash flow from continuing 382 396operations before changes inworking capitalChanges in working capital -97 8Cash flow from continuing 285 404operationsCash flow from investment activities -137 -208Cash flow after investments 148 196Change bank overdraft facility -59 124Dividend / Redemption of shares -94 -338Cash flow for the period -5 -18
  12. 12. Sales, Q1-Q3Sept 2009 - May 2010 MSEK %Net sales Q1-Q3 2008/09 3 640New stores net 6,1Like For Like -0,9Currency effect -0,2Net sales Q1-Q3 2009/10 3 821 5,0
  13. 13. Sales breakdown, Q1-Q3 Sept 2009 - May 2010 Change LocalMSEK 2009/10 2008/09 in SEK currencySweden 2 025 1 952 3,7% 3,7%Norway 1 054 994 6,0% 3,7%Finland 491 487 0,8% 5,4%Poland 246 207 18,8% 23,7%Czech Republic 5 - - -Total 3 821 3 640 5,0%
  14. 14. Present market situation• General economy is improving• Future development of the economy is uncertain• Still high level of unemployment• Increasing sourcing costs is a concern• Private consumption should continue well
  15. 15. Five year summary – Sales growth8,0%7,0%6,0%5,0%4,0%3,0%2,0%1,0%0,0% 04/05 05/06 06/07 07/08 08/09 09/10 LTM
  16. 16. Five year summary – Gross margin63,0%62,0%61,0%60,0%59,0%58,0%57,0%56,0% 04/05 05/06 06/07 07/08 08/09 09/10 LTM
  17. 17. Five year summary – Operating margin excl. one-offs16,0%14,0%12,0%10,0%8,0%6,0%4,0%2,0%0,0% 04/05 05/06 06/07 07/08 08/09 09/10 LTM
  18. 18. Five year summary – Return on capital/employed30,0%25,0%20,0%15,0%10,0%5,0%0,0% 04/05 05/06 06/07 07/08 08/09 09/10 LTM
  19. 19. Our road ahead• Maintain strong gross margin• Continued expansion of stores• More focus on increased sales in existing stores• Establish KappAhl on further markets
  20. 20. DisclaimerThese materials may not be copied, published, distributed ortransmitted to third parties.These materials may contain forward-looking statements. If so,such statements are based on our current expectations and aresubject to risks and uncertainties that could negatively affect ourbusiness. Please read our earnings report and our most recentannual report for a better understanding of these risks anduncertainties.These materials do not constitute or form part of any offer orinvitation to sell or issue, or any solicitation of any offer to purchaseor subscribe for, any securities, nor shall part, or all, of thesematerials or their distribution form the basis of, or be relied on inconnection with, any contract or investment decision in relation toany securities. These materials and the information containedherein are not an offer of securities for sale in the United Statesand are not for publication or distribution to persons in the UnitedStates.
  21. 21. Autumn 2010
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