Kährs Group (Nybro, Sweden) reported a 11% decline in net sales from the fourth quarter of 2024 compared with the fourth quarter of 2023, for a total of SEK 545 million ($51.17 million USD).
The company lost SEK 29 million ($2.72 million USD) in the fourth quarter, compared with a loss of SEK 2 million ($190,000 USD) in the fourth quarter of 2023.
During the fourth quarter, Kährs fully divested its Russian operations. The divestment resulted in a capital loss of SEK 14 million ($1.31 million USD) during the fourth quarter.
“The markets for residential construction and commercial properties remain cautious in the short term,” CEO Johan Magnusson said in a statement. “However, we are optimistic about the future, anticipating that implemented interest rate cuts will boost demand in these segments. Despite a decline in consumer disposable income in 2024, the renovation segment shows signs of recovery, with increased sales of private homes and a rebound in new construction expected to drive demand for our premium flooring solutions.”
Read the full report here.
