Clas Ohlson: Year-end report 1 May 2010 - 30 April 2011

Clas Ohlson: Year-end report 1 May 2010 - 30 April 2011

 

Fourth quarter

* Sales totalled SEK 1,164 M (1,078), up 8%.

   Sales growth in local currencies was 12%

* Operating profit amounted to SEK 4 M (14)

* Profit after tax totalled SEK 0 M (12)

* Earnings per share amounted to SEK 0 (0.19)

12 months

* Sales totalled SEK 5,828 M (5,556), up 5%.

   Sales growth in local currencies was 8%

* Operating profit amounted to SEK 507 M (591), down 14%

* Profit after tax totalled SEK 364 M (433), down 16%

* Earnings per share amounted to SEK 5.71 (6.72), down 15%

* It is proposed that a dividend of SEK 3.75 per share (3.75) be paid

Events after the end of the reporting period

* Sales in May amounted to SEK 414 M (384), up 8%. The sales growth in
local currencies was 12%

* Adjusted long term growth objective: Growth of at least 10% annually

* Decision by the Board of Directors to utilise its authorisation to buy
back shares to secure LTI 2011

CEO Klas Balkow comments:

“We continue to grow and our sales in local currencies rose 12 per cent
during the quarter, but were impacted strongly by negative exchange-rate
effects on both sales and earnings.

“Profit for the year was lower year-on-year, mainly due to our
investments in new markets and negative exchange-rate effects. We have
continued to develop Clas Ohlson towards the aim of becoming a leading
international retail chain. We have never been stronger in our domestic
markets in Sweden and Norway, with higher market shares and strong
profitability. In Finland, we showed positive growth during the
financial year and are now continuing to expand with more stores. The
expansion in the UK continued with another four stores opened, making a
total of 11.”

Analyst and media conference

An analyst and media conference will be held today, Thursday 9 June at
10 a.m. (CET). For participation, please visit
www.financialhearings.com (http://www.financialhearings.com/)

For more information, please contact:

Klas Balkow, CEO and President, Clas Ohlson AB: +46 (0)247-447 55

John Womack, Director of Information and IR, Clas Ohlson AB: +46
(0)247-444 05