“During the current operations, we managed to balance the product mix and price during the quarter, but, as before, high purchasing and transport costs and a weak Swedish krona have negatively affected the gross margin,” CEO Kristofer Tonström writes in a comment.
“A new, for us negative, factor is that the Norwegian krone has weakened significantly since the turn of the year,” he adds.
Slightly better margin
He adds that the operating margin for the quarter was slightly better compared to the same period last year but lower for the full year.
Clas Ohlson reports an operating loss of seven million kroner for the fourth quarter of the broken financial year, which ended in April. During the corresponding period a year earlier, the result was minus SEK 10 million and analysts had expected a loss of SEK 38.4 million, according to a compilation of forecasts made by Bloomberg.
Sales during the quarter amounted to 1,776 million, compared to 1,780 million a year earlier.
“The organic sales increase in the quarter was two percent and one percent for the full year. This shows the organization’s ability to quickly adapt to new conditions, which becomes at least as important when we look ahead to a year where customers will likely have continued reduced consumption space and carefully consider their purchase decisions”, writes CEO Kristofer Tonström in a comment.
Up since the turn of the year
The board proposes a dividend of SEK 1:50 per share. This can be compared with a dividend of a total of SEK 13 per share a year earlier – which included an extra dividend of SEK 6.25 per share.
Since the turn of the year, Clas Ohlson’s share has risen by just over 10 percent – a certain recovery after last year’s price drop of 37.8 percent.