MQ Holding AB Year-end report

| Source: MQ Holding AB MQ Holding AB 

MQ Holding AB Year-end report

Stable trend in a weak market

Fourth quarter (June 2011- August 2011)

  · Net sales amounted to SEK 358 million (350), up 2.2 percent. Sales
in comparable stores fell 2.8 percent. (The Swedish Retail Institute
Index declined 5.2 percent).
  · The gross margin was 54.8 percent (52.3).
  · Operating profit amounted to SEK 21 million (24), corresponding to
an operating margin of 5.8 percent (6.8).
  · Profit after tax amounted to SEK 11 million (8), corresponding to
SEK 0.32 (0.24) per share after dilution.
  · Cash flow from operating activities was negative in the amount of
SEK 4 million (neg: 17).

12-month period (September 2010-August 2011)

  · Net sales amounted to SEK 1,487 million (1,435), up 3.6 percent.
Sales in comparable stores fell 1.3 percent. (The Swedish Retail
Institute Index declined 3.7 percent).
  · The gross margin was 57.3 percent (57.9).
  · Operating profit amounted to SEK 121 million (145), corresponding to
an operating margin of 8.1 percent (10.1). The operating profit was
impacted by severance pay for the former CEO and purchasing manager
totalling SEK 8 million.
  · Profit after tax amounted to SEK 77 million (72), corresponding to
SEK 2.19 (2.86) per share after dilution.
  · Cash flow from operating activities was SEK 103 million (108).
  · The Board proposes a dividend of SEK 1.10 (1.02) per share,
corresponding to 50 percent of the year's profit after tax.

Events during the fourth quarter

  · A new store was opened in Skien, Norway.
  · The new Dobber brand was launched.
  · An Extraordinary General Meeting was held, where the Meeting
resolved to adopt the Board's proposal to establish a long-term,
share-based incentive programme, 2011/2014.

Events after the end of the reporting period

  · Mats Gärdsell assumed the position of CEO on 3 October.
  · Peter Karlson assumed the position of Head of Logistics and Sourcing
on 3 October. Peter is a Board member.
  · A new store was opened in Erikslund, Västerås.
  · The incentive programme above, which was approved during the fourth
quarter, came into effect after the end of the closing date.
Accordingly, it had no impact on the September - August 2010/2011
financial accounts. For further information on the incentive programme,
refer to page 4.

For more information, please contact:

Mats Gärdsell, CEO: +46 (0)31-38 88 010

Tony Siberg, Deputy CEO and CFO: +46 (0)31-38 88 401

 

Attachments