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Nobia turnover improves due to currency effects

21.02.2020 − 

In the fourth quarter, Nobia generated turnover of SEK3.445bn, an increase of 2% vis à vis the comparative period of the previous year. Currency effects to the amount of SEK121m contributed to the rise. Organic turnover, in contrast, declined by 2%.

In the Nordic business division turnover decreased by 2% to SEK1.658bn. Organically, the decline amounted to 4%. Whilst retail trade in Denmark and Finland developed along positive lines, turnover generated with commercial orders declined, particularly in Finland. The transformation of company-owned HTH and Norema stores into a franchise business also had a negative effect.

In Great Britain turnover increased by 7% to SEK1.455bn. In organic terms, the increase still amounted to 1%. The positive development was due mainly to increased activities via craftsmen’s businesses of subsidiary company Magnet Group, as well as increases in commercial orders at subsidiaries Commodore Kitchens and CIE.

For the central Europe business division Nobia recorded a decline by 2% to SEK332m. In terms of organic turnover the rate of decline was even higher at 5%. In addition to Dutch kitchen manufacturer Bribus Holding, which was taken over in July 2018, the region also includes activities in Austria with the ewe, fm and Intuo brands. Nobia attributes the decline in turnover recorded in the Netherlands in the fourth quarter to a delay in housing construction projects due to new environmental regulations. On the Austrian market, in contrast, a slight increase was achieved.

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