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. Financial highlights, Q3
March - 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. Income statement, Q3
March - 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. Sales, Q3
March - May 2010
MSEK %
Net sales Q3 2008/09 1 206
New stores net 5,3
Like For Like -1,8
Currency effect -2,3
Net sales Q3 2009/10 1 221 1,2
9. Financial highlights, Q1-Q3
Sept 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. Income statement, Q1-Q3
Sept 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. Cash flow, Q1-Q3
Sept 2009 - May 2010
MSEK 2009/10 2008/09
Cash flow from continuing 382 396
operations before changes in
working capital
Changes in working capital -97 8
Cash flow from continuing 285 404
operations
Cash flow from investment activities -137 -208
Cash flow after investments 148 196
Change bank overdraft facility -59 124
Dividend / Redemption of shares -94 -338
Cash flow for the period -5 -18
12. Sales, Q1-Q3
Sept 2009 - May 2010
MSEK %
Net sales Q1-Q3 2008/09 3 640
New stores net 6,1
Like For Like -0,9
Currency effect -0,2
Net sales Q1-Q3 2009/10 3 821 5,0
13. Sales breakdown, Q1-Q3
Sept 2009 - May 2010
Change Local
MSEK 2009/10 2008/09 in SEK currency
Sweden 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. 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
18. Five year summary –
Return on capital/employed
30,0%
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. 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. Disclaimer
These materials may not be copied, published, distributed or
transmitted to third parties.
These materials may contain forward-looking statements. If so,
such statements are based on our current expectations and are
subject to risks and uncertainties that could negatively affect our
business. Please read our earnings report and our most recent
annual report for a better understanding of these risks and
uncertainties.
These materials do not constitute or form part of any offer or
invitation to sell or issue, or any solicitation of any offer to purchase
or subscribe for, any securities, nor shall part, or all, of these
materials or their distribution form the basis of, or be relied on in
connection with, any contract or investment decision in relation to
any securities. These materials and the information contained
herein are not an offer of securities for sale in the United States
and are not for publication or distribution to persons in the United
States.
