CEO Leif Bergvall Hansen comments on the third quarter

November 5, 2018

The Group’s net sales increased by 9 percent pro forma to MSEK 2,263 compared to MSEK 2,081 pro forma in the third quarter 2017, and by 3 percent adjusted for exchange rate effects. All countries contributed to the increase. Adjusted operating profit amounted to MSEK 100 compared to MSEK 94 pro forma in the third quarter 2017, corresponding to a margin of 4.4 (4.5 pro forma) percent.

Our segments in Norway, Ireland (pro forma) and Finland all contributed with improved margins in the quarter. The result in Sweden and Denmark remained weak in the quarter due to costs associated with frozen stock clearance and market investments respectively.

We continue to see a strong sales development in chilled and Ready-to-eat products, partly benefitting from positive currency effect. By customer channel the sales increase is highest in Retail, driven by a strong development in Denmark, but also in Ireland (pro forma) and Sweden. I am pleased to see a positive development in Food Service as well. Adjusted EBIT shows a positive development pro forma despite significant raw material price increases as we have been able to implement price increases combined with a positive sales mix effect

Please, see the interim report, third quarter 2018.