Nobia turnover declines by only 5% in the third quarter

30.11.2020 − 

Following a 27% turnover drop in the second quarter, Swedish kitchen furniture manufacturer Nobia benefited from a recovery in individual markets and segments over the course of the third quarter. Overall turnover during this period consequently only declined by 5% to SEK3.105bn. Adjusted to account for negative currency effects amounting to SEK102m, the decline was SEK58m or 2%.

Development in the third quarter was impaired principally by the double-digit rate of decline of 12% (organic: -9%) to SEK1.295bn recorded in the UK region. Whilst sales via the retail trade and skilled manual trade gradually recovered on the British market, activities in project business and subsidised housing construction still failed to meet expectations. In the Nordic business division turnover decreased by 1% to SEK1.491bn. In organic terms a 3% increase was recorded again, however. Whilst turnover in Sweden and Finland remained below last year’s figures, in Denmark and - to a lesser extent - Norway it was possible to achieve increases. In the central Europe region, in which Austrian subsidiary ewe Küchen and Dutch kitchen manufacturer Bribus Holding are consolidated, during the third quarter turnover already increased again by as much as 6% (organic: +10%) to SEK319m.

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