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2016-07-20

Nobia AB: Interim report January-June 2016

April-June 2016
· Net sales for the second quarter amounted to SEK 3,667 million
(3,575).

· Organic growth was 4 per cent (7). Additionally, net sales were
positively impacted by acquisitions and negatively impacted by
currency effects and a decline in sales for Hygena.

· Operating profit amounted to SEK 414 million (400), corresponding to
an operating margin of 11.3 per cent (11.2).

· Currency losses had an impact of approximately SEK 50 million, of
which a negative SEK 20 million comprised translation effects and a
negative SEK 30 million transaction effects.

· Profit after tax amounted to SEK 302 million (289), corresponding to
earnings per share of SEK 1.80 (1.72).

· Operating cash flow amounted to SEK 238 million (170).
Consolidated net sales, earnings and cash flow
The market in total is deemed to have improved during the second
quarter compared with the year-earlier period.

Sales increased organically 4 per cent (7). Currency losses of SEK 182
million (gains: 247) affected sales for the quarter. Commodore and
CIE, which were consolidated during the fourth quarter of 2015,
generated sales of SEK 164 million during the second quarter.

The gross margin amounted to 40.4 per cent (41.1), negatively affected
by currency effects and by Commodore and CIE having a structurally
lower gross margin.

Operating profit improved primarily as a result of higher sales
volumes and lower material prices, but also due to the earnings
contribution from Commodore and CIE.

The return on operating capital including items affecting
comparability was 25.5 per cent over the past twelve-month period
(Jan-Dec 2015: 26.9).

The return on shareholders' equity including items affecting
comparability was 23.9 per cent over the past twelve-month period
(Jan-Dec 2015: 24.1).

Operating cash flow increased mainly as a result of a positive change
in working capital and lower investment compared with last year.

Comments from the CEO
"All regions report sales growth for the second quarter and
profitability strengthened in the Nordic and UK regions. The
operating margin for the past twelve months amounted to 9.5 per cent.
We are focusing intensively on achieving our target of a 10 per cent
operating margin in 2016. The uncertainty has however increased due
to the result of the referendum in the UK. We are monitoring the
development very closely and are ready to take steps to strengthen
profitability should this be necessary," says President and CEO
Morten Falkenberg.

For further information
Contact any of the following on +46 (0)8 440 16 00 or +46 (0)705 95 51
00:

· Morten Falkenberg, President and CEO
· Mikael Norman, CFO
· Lena Schattauer, Head of Communication and Investor Relations
Nobia develops and sells kitchens through some twenty strong brands in
Europe, including Magnet in the UK; HTH, Norema, Sigdal, Invita,
Marbodal in Scandinavia; Petra and A la Carte in Finland; Ewe, FM and
Intuo in Austria, as well as Poggenpohl globally. Nobia generates
profitability by combining economies of scale with attractive kitchen
offerings. The Group has approximately 6,400 employees and net sales
of about SEK 12 billion. The Nobia share is listed on the Nasdaq
Stockholm under the ticker NOBI. Website: www.nobia.com.

This information is such that Nobia is obliged to made public pursuant
to the EU's Market Abuse Regulation and the Swedish Securities Market
Act. The information was submitted for publication, through the
agency of the contact person set out above, on 20 July 2016 at 1:00
p.m. CET.

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http://news.cision.com/nobia-ab/r/interim-report-january-june-2016,c2048515
http://mb.cision.com/Main/5927/2048515/542153.pdf

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