Branded sales continued to exceed 2019 levels, driven by strong marketing. Margin-enhancing initiatives brought the Pick & mix business close to breakeven for the full year. The dividend proposal is in line with the pre-pandemic level, supported by a healthy cash flow and strong balance sheet.
- Net sales for the quarter increased by 13.4 per cent to SEK 1,662m (1,466) including a negative impact from foreign exchange rates of -0.4 per cent.
- Sales of Branded packaged products increased organically by 9.3 per cent during the quarter: 1.9 per cent in October, 14.8 per cent in November and 13.2 per cent in December.
- Sales of Pick & mix increased organically by 32.4 per cent during the quarter: 23.3 per cent in October, 33.7 per cent in November and 44.3 per cent in December.
- Operating profit amounted to SEK 157m (114). Operating profit, adjusted for items affecting comparability, amounted to SEK 157m (116).
- The operating profit 2021 has been negatively affected by SEK -3m in Q4 and SEK -30m for the full year as a result of the changed accounting treatment for cloud computing arrangements as announced in the Q3 interim report.
- Operating profit, adjusted, of Branded packaged products amounted to SEK 152m (164).
- Operating profit, adjusted, of Pick & mix amounted to SEK 5m (-48).
- Profit for the period amounted to SEK 147m (77), which equates to basic and diluted earnings per share of SEK 0.51 (0.27).
- Cash flow from operating activities was SEK 368m (310).
- Net debt/EBITDA ratio was 2.0x (2.8).
- The Board proposes a dividend of SEK 1.00 (0.75) per share.