CEO Leif Bergvall Hansen comments on the third quarter
Good growth and strong operating performance
Scandi Standard delivers another strong result in the third quarter of 2020. With a three percent growth in net sales compared to the same quarter last year, corresponding 7 percent in local currency, adjusted EBIT increased by 17 percent to MSEK 147. The quarterly adjusted EBIT margin of 5.6 percent represent a five-year quarterly record for the Group.
I am pleased to report that we have returned to a strong growth in net sales in the third quarter despite the Covid 19 related reduction in Foodservice demand. The strong retail demand has more than offset the reduced demand from our Foodservice clients. Although we have seen improvement in Foodservice sales compared to the second quarter, demand from this channel remains volatile as a result of changing Covid-19 related consumer behaviours and state measures. All in all, we maintain a good sales mix which contributes to the strong margins.
Leif Bergvall Hansen,
Managing Director and CEO Scandi Standard