Year-end report

Year-end report

MQ Holding AB
Year-end report

FOURTH QUARTER (JUNE-AUGUST 2010)

  · Net sales amounted to SEK 350 million (331), up 5.7 percent. Sales
in comparable stores rose 2.3 percent.
  · The gross margin was 52.3 percent (53.4*).
  · Operating profit totalled SEK 24 million (22), corresponding to an
operating margin of 6.8 percent (6.6). Excluding listing costs,
operating profit totalled SEK 28 million, corresponding to an operating
margin of 7.9 percent.
  · Profit after tax totalled SEK 8 million (14), corresponding to SEK
0.25 (0.62) per share after dilution. Excluding listing costs, profit
after tax amounted to SEK 12 million, corresponding to SEK 0.37 per
share after dilution.
  · Cash flow from operating activities was negative in an amount of SEK
17 million (neg:13).

THE PERIOD - TWELVE MONTHS (SEPTEMBER 2009-AUGUST 2010)

  · Net sales amounted to SEK 1,435 million (1,384), up 3.6 percent.
Sales in comparable stores declined 0.4 percent.
  · The gross margin was 57.9 percent (54.4*).
  · Operating profit totalled SEK 145 million (101), corresponding to an
operating margin of 10.1 percent (7.3). Excluding listing costs,
operating profit totalled SEK 156 million, corresponding to an operating
margin of 10.8 percent.
  · Profit after tax for the period totalled SEK 72 million (40),
corresponding to 2.86 SEK (1.79) per share after dilution. Excluding
listing costs, profit after tax amounted to SEK 83 million,
corresponding to SEK 3.30 per share after dilution.
  · Cash flow from operating activities totalled SEK 108 million (122).
  · The Board proposes a dividend of SEK 1.02 per share, corresponding
to 50 percent of the year's profit after tax.

Events during the quarter

  · MQ went public on NASDAQ OMX Stockholm on 18 June - a new share
issue was conducted, raising SEK 96 million for MQ before issue costs of
SEK 5 million.
  · New capital structure. After refinancing, all loans are now with
Swedbank. Shareholder loans and accrued interest totalling SEK 288
million were also converted to equity. The number of shares after the
listing amounted to 35,156,507.
  · On 31 August, 2010, the value of the company's inventories was SEK
205 million (206). With four new stores compared with the preceding
year, the inventory level was deemed satisfactory.

Events after the end of the reporting period

  · The first step into the Norwegian market was taken, with the first
store-opening in Oslo in September, with a launch according to plan.
  · Three new stores were opened in Sweden after the end of the quarter
- one in Bromma, one in Växjö, and a new outlet store at Kungens kurva.
  · During October, MQ's "Shop Online" was launched as a complement to
the chain's 110 physical stores.
  · CFO Tony Siberg has been appointed Executive Vice President.