Brief: Nobia Q2 Operating Profit Swings To Loss SEK 43 Mln

Nobia AB

20/07/2020 13:07

July 20 (Reuters) - Nobia AB  NOBI.ST :
    * INTERIM REPORT JANUARY - JUNE 2020
    * Q2 NET SALES SEK 2.74 BILLION VERSUS SEK 3.75 BILLION YEAR
AGO
    * EARNINGS FOR Q2 2020 WERE CHARGED WITH ONE-TIME COSTS OF
SEK 93M
RELATING TO THESE MEASURES
    * Q2 OPERATING LOSS SEK 43 MILLION VERSUS PROFIT SEK 391
MILLION
YEAR AGO
    * WE FORESEE SHORT-TERM PERFORMANCE WILL CONTINUE TO BE
IMPACTED
BY GLOBAL RECESSION, ALBEIT NOT TO SAME EXTENT AS DURING Q2
    * Q2 ORGANIC GROWTH NEGATIVE 25% VERSUS NEGATIVE 1% YEAR AGO
    * TAKING MEASURES TO INCREASE EFFICIENCY IN UK, WHICH WILL
IMPACT
AROUND 240 EMPLOYEES ACROSS UK STORE NETWORK AND SUPPLY CHAIN
    * NORDIC REGION DELIVERED A STABLE RESULT DESPITE
CHALLENGING
ENVIRONMENT
    * DEMAND FOR HOME RENOVATION, AND THUS ALSO DEMAND FOR
KITCHENS,
HAS GRADUALLY IMPROVED AFTER STEEP DECLINE IN APRIL

Source text for Eikon:  ID:nWkr61XHDR 
Further company coverage:  NOBI.ST 

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