Kährs Group's 3Q 2016 net sales amounted to SEK 708 million ($77 million), an increase of SEK 19 million ($2 million), or 3% compared with the 3Q 2015. The increase in sales can be attributed to continued good growth in the Nordics and Europe segments, while the other markets and Resilient Global segments were somewhat weaker.
Net sales for the Group during the January to September period amounted to SEK 2,158 million ($234 million), an increase of 5% compared with the corresponding period in 2015. The Europe and Nordics segments showed the highest growth rate of 10% and 5%, respectively.
3Q 2016 operating profit (EBIT) for the quarter amounted to SEK 50 million ($5.4 million), a SEK 4 million ($434,782) improvement largely attribut able to higher sales.
Operating profit excluding non-recurring items (adjusted EBIT) was SEK 59 million ($6.4 million), or 8.3%.
Operating profit before depreciation, amortisation, and non-recurring items (adjusted EBITDA) reached SEK 81 million ($8.8 million), or 11.4%. Profit for the quarter totalled SEK 21 million ($2.3 million).
Operating profit (EBIT) for the January to September period amounted to SEK 157 million ($17 million), a 3% improvement.
President and CEO Christer Persson commented: “Kährs Group continued to develop positively in the 3Q, with sales and profitability growth of 3% and 7%, respectively. Most of our core markets, including Sweden, Norway, the US and several large markets in Europe performed well, and provided good balance for the markets that currently have a less favourable market situation. The Group's product strategy is working well and our assessment is that we are gaining market share in several core markets.”
Kährs Holding AB is a world-leading flooring manufacturer in hardwood and resilient flooring.