Kährs Group (Malmö, Sweden) reported second-quarter net sales of SEK 552 million (USD 57.9 million), up 9% year-over-year, with currency-adjusted organic growth of 8%. The gains were driven by strong performance across Europe, while the North American market conditions remained challenging, particularly in new-build construction. The company pointed to signs of recovery in the housing market and a return to growth for its direct distribution to the retail channel.
Operating EBITA climbed to SEK 22 million (USD 2.3 million) from SEK 17 million (USD 1.8 million), and the net loss narrowed to SEK 18 million (USD 1.9 million) thanks to price increases and a favorable product mix.
First-half sales rose 3% to SEK 1,082 million (USD 113,605), but operating EBITA fell to SEK 27 million (USD 2.8 million) from SEK 39 million (USD 4.1 million) and the net loss widened to SEK 61 million (USD 6.4 million).
"In an unpredictable external environment, Kährs focuses on what the company can influence," President and CEO Johan Magnusson said, adding that a new cost-reduction program will be presented in the third quarter.
Read the full report here.
