Brief: Nobia Q2 Operating Profit Down At SEK 212 Mln

Nobia AB

19/07/2022 13:37

July 19 (Reuters) - Nobia AB  NOBI.ST :
    * Q2 NET SALES SEK 3,890 MILLION VERSUS SEK 3,622 MILLION
YEAR AGO
    * Q2 OPERATING CASH FLOW SEK 286 MILLION VERSUS SEK 618
MILLION
YEAR AGO
    * KITCHEN MARKET GREW IN QUARTER DRIVEN BY INCREASED MARKET
PRICES
AND A STRONG PROJECT MARKET ON BACK OF A HIGH NUMBER OF HOUSING
COMPLETIONS
    * DEMAND CONTINUED TO BE GOOD IN NORDICS AND WE CURRENTLY
HAVE A
STRONG ORDER BOOK COMPARED TO LAST YEAR
    * RETAIL FOOTFALL WAS GOOD AS WE ENTERED SUMMER CAMPAIGN
PERIOD,
ESPECIALLY IN UK.
    * ORGANIC GROWTH OF 6 PERCENT WAS DRIVEN BY PRICE INCREASES,
WHICH
WILL CONTINUE AS MOST RECENT INCREASES HAVE NOT YET MATERIALISED
    * ON SOURCING SIDE, MATERIAL AVAILABILITY REMAINS
CHALLENGING,
ALTHOUGH GRADUALLY IMPROVING
    * IN NEXT COMING TWO QUARTERS WE EXPECT OUR EXTRAORDINARY
PRICE
INCREASES TO MATERIALIZE AND COMPENSATE FOR DIRECT MATERIAL ON
COST.
    * Q2 OPERATING PROFIT SEK 212 MILLION VERSUS SEK 347 MILLION
YEAR
AGO

Source text for Eikon:  ID:nWkr2tpPX4 
Further company coverage:  NOBI.ST 

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