Taking actions to mitigate the impact of COVID-19 as the previous sales recovery transitioned into a new slowdown during the quarter.
- Net sales for the quarter decreased by 14.9 per cent to SEK 1,466m (1,722), including a negative effect of 2.6 per cent due to exchange rate fluctuations.
- Sales of branded packaged products decreased organically by –3.6 per cent during the quarter, comprised of –1.4 per cent for October, –3.4 per cent for November, and –6.8 per cent for December.
- Sales of pick & mix declined organically by –35.9 per cent during the quarter, comprised of –38.5 per cent for October, –30.1 per cent for November, and –38.4 per cent for December.
- Operating profit amounted to SEK 121m (209). Profit for the period amounted to SEK 83m (172). Operating profit, adjusted for items affecting comparability, amounted to SEK 123m (216).
- Following the impact of COVID-19, the total pick & mix business generated a negative EBIT of approximately SEK 135m in 2020.
- Cash flow from operating activities was SEK 315m (318).
- Net debt/EBITDA ratio was 2.7 (2.2).
- The Board proposes a dividend of SEK 0.75 (0.50) per share.
Please find enclosed the full report.