Brief: Nobia Q2 Operating Result Turns To Profit Of SEK 347 Mln

Nobia AB

19/07/2021 11:18

July 19 (Reuters) - Nobia AB  NOBI.ST :
    * INTERIM REPORT JANUARY - JUNE 2021
    * Q2 OPERATING PROFIT INCREASED TO SEK 347M (-43),
CORRESPONDING
TO AN OPERATING MARGIN OF 9.6% (-1.6).
    * Q2 NET SALES SEK 3.62  BILLION VERSUS SEK 2.74 BILLION
YEAR AGO
    * WE CONTINUE TO HAVE STRONG DEMAND IN NORDICS WHICH
RESULTED IN
ORGANIC GROWTH OF 13% (11% COMPARED TO 2019) AND CENTRAL EUROPE
OF 29% (9% COMPARED TO 2019)
    * GROWTH WAS PREDOMINANTLY DRIVEN BY STRONG RETAIL SALES
WHILST
PROJECT SALES WERE FLAT IN NORDICS AND SLIGHTLY GROWING IN
NETHERLANDS.
    * WE EXPECT RETAIL SALES TO NORMALIZE IN Q3, ASSUMING NO
FURTHER
LOCKDOWNS, WHILST WE ANTICIPATE IT WILL TAKE LONGER FOR SOCIAL
HOUSING SEGMENT AND LONDON PROPERTY MARKET TO RECUPERATE
    * GLOBAL SURGE IN DEMAND FOR MATERIAL HAS RESULTED IN HIGHER
DIRECT MATERIAL COST ALSO IN OUR INDUSTRY
    * GROWTH WAS PREDOMINANTLY DRIVEN BY STRONG RETAIL SALES
WHILST
PROJECT SALES WERE FLAT IN NORDICS AND SLIGHTLY GROWING IN
NETHERLANDS
    * INITIATIVES SUCH AS TRADE GROWTH IN UK, PROCESS
HARMONIZATION
AND K2020 ALIGNED ASSORTMENT ARE ALREADY STARTING TO PAY OFF
    * Q2 ORGANIC SALES GROWTH OF 35%.

Source text for Eikon:  ID:nWkr2zpWw 
Further company coverage:  NOBI.ST 

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