July –
- Net sales increased by 5.6% to
SEK 952 (902) million. Organic growth was 4.5% (-4.9). - EBITA, adjusted, decreased to
SEK 77 (87) million. EBITA-margin, adjusted, was 8.1% (9.6). The change is mainly explained by negative currency effects. - Cash flow from operating activities decreased to
SEK 14 (68) million. - Operating profit decreased to
SEK 45 (116) million. Operating margin was 4.8% (12.8). Much of the difference can be attributed to positive non-recurring effects from the sale of a warehouse property in Q3 2022. - Market share increased to 26.3% (25.3) in
Sweden , 19.2% (15.9) inFinland and 5.8% (5.0) inNorway . - Earnings per share was
SEK 0.43 (0.96).
January –
- Net sales increased by 4.0% to
SEK 2,882 (2,772) million. Organic growth was 2.9% (-5.0). - EBITA, adjusted, decreased to
SEK 222 (278) million. EBITA-margin, adjusted, was 7.7% (10.0). The change is mainly explained by negative currency effects. - Cash flow from operating activities decreased to
SEK 120 (221) million. - Operating profit decreased to
SEK 130 (249) million. Operating margin was 4.5% (9.0). - Market share increased to 26.3% (25.4) in
Sweden , 18.9% (16.1) inFinland and 5.8% (5.2) inNorway . - Earnings per share was
SEK 1.19 (2.34).
Significant events during the quarter
- Viva eCom started delivering from its new centralized e-commerce warehouse outside Mainz in
Germany . Viva Wine Group AB appointedABG Sundal Collier (ABGSC) as liquidity provider for the company's shares listed on Nasdaq Stockholm.
Emil Sallnäs, CEO comments:
CONTINUED STRONG GROWTH IN THE NORDICS AND WELL POSITIONED FOR EXPANSION IN
Our European e-commerce platform has now been consolidated after the launch of the new warehouse in
SALES INCREASE DESPITE WEAK MARKET
Our sales increased in all markets in the third quarter, despite challenging market conditions and continued weak consumer sentiment. In the Nordics, we continue to have strong momentum with high volume growth. Net sales increased overall by 5.6 percent in the quarter.
Adjusted EBITA margin was 8.1 percent, down on the previous year. Our hard work to balance currency effects with strict cost control and balanced price adjustments have - in light of very unfavourable exchange rates - resulted in a satisfactory margin.
STRONG VOLUME GROWTH IN THE NORDICS
We are continuing to see strong growth in the Nordic markets. Once again, we are proving that our business model works. We know what customers want and are quick to the market. In
STRENGTHENED MARGIN IN ECOM
Viva eCom delivered stable net sales in the quarter and slightly improved its adjusted EBITA margin to 10.3 percent. We see signs of the market having bottomed out, and our assessment is that our e-commerce business has a brighter outlook.
SYNERGIES THAT SIMPLIF Y FURTHER EXPANSION
In Viva eCom we have laid the final brick in our efforts to achieve synergies. Our new centralised e-commerce logistics hub was launched during the quarter. We started delivering on schedule and in time for the important fourth quarter with both Black Week and Christmas trading. The new warehouse also boosts capacity for our planned growth in
Our new e-commerce hub not only puts us in a good position to grow organically but also provides a platform to quickly capitalise on potential future acquisitions. In addition to the search for major candidates for acquisition, we also see potential in bolt-on acquisitions that can complement our European operations. During the quarter, we successfully refinanced our debt and added a revolving credit facility that further strengthens our capacity for acquisitions.
FOCUS ON GROWTH IN
Following the
PROGRESS IN SUSTAINABILITY
The roll-out of our Group-wide sustainability platform continued throughout our Nordics business segment in the quarter. As part of this roll-out and preparations for the forthcoming Corporate Sustainability Reporting Directive, an upgraded software solution for efficient climate data collection is being implemented. With this, we are further strengthening our procedures for measuring and monitoring the climate impact from our business and supply chain.
A ROBUST BUSINESS MODEL
We are living in challenging times with major events rocking the global economy. Something consumers and businesses are experiencing alike. Inflation and rising interest rates eroding purchasing power and demand creates a challenging situation where currency exposed companies such as
It is easy to be successful when experiencing tailwind. Delivering results in headwind is more difficult. So I am incredibly proud that we are able to show good growth and take market shares in the current market situation. We have a fantastic organisation with the ability to adapt our offering quickly to new conditions and changing demand – a business model that delivers even in challenging times.
Emil Sallnäs, CEO
Please see the full report in the attached pdf.
Publication and presentation
Certified Adviser
For more information, please contact:
Mikael Sundström, Director Sustainability, Communications & Investor Relations
Tel: +46 70 943 22 26
Email: mikael.sundstrom@vivagroup.se
Linn Gäfvert, CFO
Tel: +46 73 086 89 90
Email: linn.gafvert@vivagroup.se
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