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Nobia organic turnover still in decline

01.08.2019 − 

For the second quarter Nobia records turnover of SEK3.751bn. This 7% increase, however, is once again attributed exclusively to currency effects amounting to SEK82m as well as the SEK202m turnover contribution from Dutch Bribus Holding. Bribus has belonged to the consolidated companies of Nobia since 01 July 2018. Organic turnover in the current reporting period declined by 1%, as was also the case in the first quarter.

Organic turnover also fell by 1% in each case in both the Nordic and UK sales regions during the second quarter. In northern Europe the transformation of Norwegian Norema stores into franchise businesses, for example, has had a negative impact. Adjusted to account for this effect, an organic increase of 2% was achieved. Overall turnover of SEK1.870bn was generated in the region. Whilst consumer business developed along positive lines in all markets apart from Denmark, a decline was recorded for Swedish and Norwegian project business.

Accumulated over the first half of the year, Nobia’s overall turnover improved by 8% to SEK7.220bn. Of this figure, SEK3.594bn was generated in the Nordic region, SEK2.983bn in the UK and SEK643m in Central Europe. Organically, total turnover was 1% below the previous year’s figure. Operating profit of the group increased by 1% to SEK651m. This increase is exclusively attributed to the takeover of Bribus, by means of which operating profit in Central Europe increased to SEK37m. In the Nordic and UK business divisions, in contrast, operating profit decreased to SEK489m and SEK200m respectively.

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