Quarterly Report • Apr 20, 2012
Quarterly Report
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• During the quarter, two (three) new stores opened: two in Norway.
| Earnings overview | January - March | 12 months | Full year | |
|---|---|---|---|---|
| 2012 | 2011 | April 2011- March 2012 |
2011 | |
| Net sales, SEK M | 451.4 | 369.5 | 3,069.0 | 2,987.1 |
| Gross margin, percent | 29.3 | 29.1 | 30.1 | 30.1 |
| EBIT, SEK M | -9.6 | -13.1 | 281.0 | 277.5 |
| EBIT margin, percent | -2.1 | -3.5 | 9.2 | 9.3 |
| Profit after tax, SEK M | -13.0 | -15.1 | 184.2 | 182.2 |
| Earnings per share, SEK | -0.2 | -0.2 | 3.0 | 3.0 |
| Return on equity, percent | -1.6 | -2.0 | 23.6 | 22.9 |
| Cash flow operating activities per share, SEK | 1.7 | -1.0 | 4.2 | 1.5 |
| Shareholders´equity per share,SEK | 13.7 | 12.1 | 13.7 | 13.9 |
| Numbers of stores at the en of the period | 88 | 76 | 88 | 86 |
| New stores opened during the period | 2 | 3 | 12 | 13 |
Total sales increased by 22 percent in the quarter year-on-year. New stores made a positive contribution to growth in parallel with existing stores recording substantial growth in sales. In our assessment, sales growth was attributable to a more positive outlook among consumers compared with 2011 (see Outlook below) and an increase in sales to building contractors. Milder weather for part of the quarter compared with the year-earlier period had a positive impact on sales.
Marketing activities during the quarter have delivered favorably and we brought forward the start of marketing activities compared with the preceding year. Our message and choice of channels is subject to constant improvement and optimization. In addition, substantial effort has been invested in the website to ensure its ability to handle heavy traffic during the season.
The gross margin was higher during the quarter than in the yearearlier period. During the period, overheads increased, this was primarily attributable to the increase in the number of stores but also as a consequence of the earlier start of specific marketing activities compared with 2011.
Byggmax opened two stores in the first quarter of 2012. The total number of stores opened in 2012 is expected to be 10-15, of which four to six in Sweden, five to seven in Norway and one to two in Finland.
At the end of the quarter, Byggmax completed its second Byggmax Employee Fair. We utilize this fair to gather together all employees to present our vision and conduct joint training sessions. It is highly appreciated by the employees and provides an excellent kickoff for the season.
Uncertainty with regard to the economic trend in Byggmax's markets has declined. Interest rates and energy costs have decreased with their consequent positive impact on consumption. In addition, uncertainty regarding house price trends has declined, primarily in Sweden, where the majority of consumers believe in rising prices rather than falling.
In the first quarter, growth in sales exceeded the target. This sales trend and our continued capture of market shares confirm the strength of our concept. Through an expanded store network, we reach an increasing number of consumers in Sweden, Norway and Finland and through a high degree of cost awareness we continue our alliance with customers through offering an attractive range at extremely low prices.
Byggmax's business concept is to sell high-quality building supplies at the lowest price possible.
Byggmax offers affordable high-quality products for the most common maintenance and DIY projects. Since the start in 1993, the organization has been characterized by the so called "Byggmax concept" which has been decisive for the company's development. The concept is built on a limited product range, a resource efficient administration, strong company culture and competitive and effective pricing strategy as well as the stores distinguished shape and design.
Byggmax has determined it's long term goals for the Group as follows:
Byggmax's strategy for achieving its financial goals is to expand the chain of stores in existing markets, to improve operating activities and to maintain continuous focus on business development.
Number of stores
Byggmax is planning on opening 10-15 new stores during 2012, four to six in Sweden, five to seven in Norway and one to two in Finland. The image above shows how the store network has expanded since Byggmax was established in 1993.
The operation's net sales totaled SEK 451.4 M (369.5), up 22.2 percent. Operating revenue was SEK 452.4 M (370.0), up 22.3 percent. Net sales for comparable stores1 rose 14.6 percent in local currency. Net sales amounted to SEK 337.9 M (297.4) in Sweden and SEK 113.6 M (72.1) in the other Nordic markets.
| The sales increase of 22,2 percent was divided according to the following: |
||||
|---|---|---|---|---|
| Comparable stores, local currency, percent | 14.6 | |||
| Non-comparable units, percent | 6.8 | |||
| Exchange rate effects, percent | 0.8 | |||
| Total, percent | 22.2 |
The Group opened two (three) new stores during the quarter. Accordingly, the total number of stores in the Group at March 31, 2012 was 88 (76).
EBIT amounted to SEK -9.6 M (-13.1) and the EBIT margin was -2.1 (-3.5) percent. The gross margin was 29.3 percent compared with 29.1 percent for the year-earlier period. The Swedish Customs decided to levy an additional charge, in a total amount of SEK 10.3 M, from Byggmax with respect to customs and anti-dumping duties for 2008 and 2009. Byggmax intends to appeal this decision. These additional charges are cost neutral for Byggmax, since Byggmax has agreed compensation in a corresponding amount with the supplier.
Personnel costs and other external expenses increased by a total of SEK 19.6 M. This increase was principally attributable to an expense of SEK 13.1 M for new stores opened after the first quarter of 2011.Personnel costs in the first quarter were impacted by the cost of the Byggmax Employee Fair that was held in March rather than in April as it was last year. In the first quarter of 2012, marketing costs increased by SEK 2.8 M and consultancy fees for IT services were higher at SEK 1.5 M compared with the yearearlier period.
The loss before tax was SEK 18.0 M (loss: 20.7). The loss arising from net financial items amounted to SEK 8.4 M (loss: 7.6). Net financial items was impacted by currency effects.
Cash flow from operating activities for the January to March period amounted to SEK 104.5 M (neg: 59.8), up SEK 164.3 M compared with the year-earlier period. The improvement was attributable to an increase in accounts payable as a result of returning to normal credit terms for the period. At the end of the period, inventory amounted to SEK 471.3 M (371.8). Compared with the end of the year-earlier period, 12 new stores and inventory associated to this amounted to SEK 53.5 M. Distribution inventory was SEK 56.8 M higher than in the year-earlier period, due to more products being distributed through the distribution hub. The decrease in tax paid for the period compared with the year-earlier period was attributable to higher debited preliminary taxes in 2011.
Consolidated shareholders' equity amounted to SEK 830.5 M (732.7) on March 31, 2012. The net debt of the Group was SEK 396.9 M (514.2) and decreased SEK 117.3 M compared to the preceding year. The equity/assets ratio amounted to 45.4 percent (43.1). Unutilized credit facilities totaled SEK 184.7 M (104.2).
Investments (excluding financial leasing) during the first quarter amounted to SEK 12.2 M (5.4), of which SEK 5.8 M (1.1) comprised investments in new stores and SEK 2.6 M (2.6) related to IT equipment. The higher degree of investment compared with the preceding year was attributable to reduced use of leasing facilities by the company.
During the period January to March 2012, two new stores were opened: Moss and Askim (Norway).
Byggmaxstores New Byggmaxstores during 2012 (until March 31)
1 A store is classified as comparable as of the second year-end after the store was opened. Stores that are relocated to new premises in existing locations are handled in the same manner.
The number of employees (converted to full-time equivalents) rose to 688 (611) at the end of the year, due to an increase in the number of stores.
• Trends in cost prices – cost prices impact Byggmax's margins. Historically, the market has passed on adjustments in cost prices to the end consumer.
• Competitors' pricing – Byggmax prices products based on the prices of the competition with the objective of always being the cheapest. Therefore, the pricing of competitors affects margins. • Short-term trends in the DIY market – Byggmax operates in the
DIY market and, accordingly, its trends impact the company. • Weather – Byggmax sells many items for outdoor use and, accordingly, sales are impacted by the weather. Seasonal variations are clearly visible and the company has significantly higher turnover in spring, summer and early autumn.
• Availability of attractive store locations – The establishment of new stores is a key element of Byggmax's strategy in both the long and the short-term, thus making attractive store locations of key importance.
• The ability to maintain the strong corporate culture – The Byggmax culture plays a key role in the company's success and its retention is a key factor for continued success.
• The ability to execute the Group's strategy and business concept – Maintaining stringency levels in the product range and pricing as well as continuing to trim the organization through continuous improvements comprise a few of the key elements for success.
• The ability to renew the concept and strategies when needed – The Byggmax concept has remained much the same since it was founded in 1993. However, the concept has developed over time and new ideas have been tested and incorporated or discarded. • Long-term development of the DIY market – Byggmax operates in the DIY market and its long-term trend is important.
• Trends in the attractiveness of the low-price segment in the DIY market – Byggmax's strategy is to become the largest operator in the low-price segment in the Nordic region. Long-term trends are therefore important.
• The competition's strategies and their execution – Byggmax operates in a competitive market and the actions of the competition affect the Group.
A number of factors can impact Byggmax's earnings and operations. Most of these factors can be managed through internal procedures, while certain factors are largely governed by external circumstances. For a more detailed description of the Group's risks and risk management, refer to the Annual Report for 2011. Byggmax has updated its currency policy and now hedges currency positions greater than SEK 100 M on an annual basis. Apart from the risks described in the Annual Report, no material risks arose during the period.
The company´s operations are affected by strong seasonal variations controlled by consumer demand for basic building supplies. Due to the weather´s impact on demand, Byggmax's sales and cash flow are generally higher in the second and third quarters, when about two thirds of the company´s sales are generated, while these usually decline in the fourth and first quarters. Although seasonal variations do not normally affect Byggmax's earnings and cash flow from year to year, earnings and cash flow may be impacted during the year by unusually harsh or mild weather conditions, or by excessive or insufficient precipitation. Byggmax endeavors to balance the seasonal effects by launching new products that are not as susceptible to seasonal variations.
The Parent Company is a holding company. Parent Company sales amounted to SEK 0.1 M (0.1) during the first quarter. The Parent Company reported a loss after financial items of SEK 4.4 M (loss: 4.0) for the first quarter.
No significant events have occurred since the end of the reporting period.
| Name | Number of shares |
Holding (%) |
|---|---|---|
| ALTOR 2003 Sarl | 21,720,908 | 35.76 |
| Lannebo fonder | 5,597,227 | 9.22 |
| ZAMGATE INVESTMENTS (Stig Notlöv) | 3,078,042 | 5.07 |
| Schroder Investment Management North America, Inc. |
2,792,654 | 4.60 |
| JARTON MANAGEMENT (Göran Peter son) |
2,381,296 | 3.92 |
| Handelsbanken fonder | 1,904,641 | 3.14 |
| Norges Bank Investment Management | 1,742,210 | 2.87 |
| ULSLANE HOLDNINGS (Lars Lindberg) | 1,715,000 | 2.82 |
| Nordea Investment Funds | 1,275,270 | 2.10 |
| Schroder Investment Management Ltd. |
1,139,199 | 1.88 |
| Total of the ten major shareholders | 43,346,447 | 71.37 |
| Total other shareholders | 17,390,598 | 28.63 |
| Total at March 31, 2012 | 60,737,045 | 100.00 |
Byggmax Group AB (publ) applies International Financial Reporting Standards (IFRS) as adopted by the EU. This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting, the Swedish Annual Accounts Act and RFR 1 Supplementary Accounting Rules for Groups.
The Parent Company's financial statements have been prepared in accordance with the Swedish Annual Accounts Act and RFR 2 Accounting for Legal Entities. The same accounting policies were applied for the Parent Company as for the Group, except in the cases stated under Parent Company accounting policies in Note 2.22 of the Annual Report for 2011.
Those standards that entered effect as of January 1, 2012 have no material impact on the Group.
For a more detailed description of the accounting policies applied for the Group and the Parent Company in this interim report, refer to Notes 1-4 of the Annual Report for the 2011 fiscal year.
All of the figures listed above and below in parentheses refer to the corresponding period or date in the preceding year.
Stockholm April 20, 2012
Magnus Agervald President of Byggmax Group AB (publ)
This report is unaudited.
Second quarter interim report 2012 July 18, 2012 Third quarter interim report 2012 October 26, 2012
For further information, please contact the following individuals by telephone at + 46-8-514 930 60 or by calling the direct numbers listed below:
Magnus Agervald, President Tel: +46-76-11 90 020 E-mail: [email protected]
Pernilla Valfridsson, CFO Tel: +46 (0)76 11 90 040 E-mail: [email protected]
Background information about Byggmax and press photos are available at www.byggmax.com
Byggmax Group AB (publ) Box 6063, SE-171 06 Solna Sweden Visiting address: Armégatan 40 Tel: +46 (0)8 514 930 60, fax: +46 (0)8 514 930 79, e-mail: info@ byggmax.se Corporate Registration Number: 556656-3531 Registered office: Solna
| Amount in SEK M | Jan - Mar | Jan - Mar | 12 months | Jan - Dec |
|---|---|---|---|---|
| Apr 2011- | ||||
| Note | 2012 | 2011 | Mar 2012 | 2011 |
| Operating income | ||||
| Net Sales 1 |
451.4 | 369.5 | 3,069.0 | 2,987.1 |
| Other operating income | 1.0 | 0.5 | 5.5 | 5.0 |
| Total operating income | 452.4 | 370.0 | 3,074.5 | 2,992.1 |
| Operating expenses | ||||
| Goods for sale | -319.1 | -262.1 | -2,145.0 | -2,088.0 |
| Other external costs and operating expenses | -72.2 | -60.3 | -345.9 | -333.9 |
| Personnel costs | -58.8 | -50.6 | -255.3 | -247.1 |
| Depreciation and amortization of tangible and | ||||
| intangible fixed assets | -11.9 | -10.0 | -47.4 | -45.6 |
| Total operating expenses | -462.0 | -383.1 | -2,793.5 | -2,714.6 |
| EBIT | -9.6 | -13.1 | 281.0 | 277.5 |
| Loss from financial items | -8.4 | -7.6 | -26.7 | -25.8 |
| Profit/loss before tax | -18.0 | -20.7 | 254.3 | 251.6 |
| Income tax | 5.0 | 5.6 | -70.1 | -69.5 |
| Profit/loss for the period | -13.0 | -15.1 | 184.2 | 182.2 |
| Other comprehensive income for the period | ||||
| Translation differences | -0.8 | -0.8 | 0.9 | 0.9 |
| Total other comprehensive income for the period | -0.8 | -0.8 | 0.9 | 0.9 |
| Total comprehensive income for the period | -13.8 | -15.8 | 185.1 | 183.1 |
| Earnings per share before dilution, SEK | -0.2 | -0.2 | 3.0 | 3.0 |
| Earnings per share after dilution, SEK | -0.2 | -0.2 | 3.0 | 3.0 |
| Average number of shares, (thousand) | 60,737 | 60,737 | 60,737 | 60,737 |
| Number of shares at the end of the period | 60,737 | 60,737 | 60,737 | 60,737 |
| Consolidated summary of statement of financial position | |||
|---|---|---|---|
| Amounts in SEK M Note |
Mar 2012 | Mar 2011 | Dec 2011 |
| ASSETS | |||
| Fixed assets | |||
| Intangible fixed assets | 1,073.9 | 1,065.8 | 1,072.6 |
| Tangible fixed assets | 140.8 | 123.3 | 140.5 |
| Financial fixed assets | 6.2 | 17.2 | 5.1 |
| Total fixed assets | 1,221.0 | 1,206.3 | 1,218.2 |
| Current assets | |||
| Inventories | 471.3 | 371.8 | 424.9 |
| Derivatives | 0.0 | 3.8 | 0.6 |
| Current receivables | 88.1 | 86.2 | 99.1 |
| Cash and cash equivalents | 49.4 | 33.4 | 22.8 |
| Total current assets | 608.8 | 495.2 | 547.5 |
| TOTAL ASSETS | 1,829.7 | 1,701.5 | 1,765.8 |
| Amounts in SEK M Note |
Mar 2012 | Mar 2011 | Dec 2011 |
| SHAREHOLDERS' EQUITY AND LIABILITIES | |||
| Shareholders' equity | 830.5 | 732.7 | 844.4 |
| LIABILITIES | |||
| Borrowing from credit institutions | 161.2 | 197.6 | 166.3 |
| Deferred tax liabilities | 64.8 | 53.8 | 64.5 |
| Long-term liabilities | 226.0 | 251.3 | 230.8 |
| Borrowing from credit institutions | 285.1 | 350.1 | 344.0 |
| Accounts payable | 392.4 | 290.0 | 268.9 |
| Current tax liabilities | 0.0 | 0.0 | 4.5 |
| Derivative instruments | 3.3 | 5.8 | 0.0 |
| Other liabilities | 17.4 | 16.4 | 12.6 |
| Accrued expenses and prepaid income | 75.1 | 55.1 | 60.6 |
| Current liabilities | 773.2 | 717.4 | 690.6 |
| TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES | 1,829.7 | 1,701.5 | 1,765.8 |
| Pledged assets - Shares in subsidiaries | 743.6 | 645.8 | 845.6 |
| Pledged assets - Chattel mortgages | 120.0 | 120.0 | 120.0 |
| Pledged assets - Blocked funds | 12.3 | 13.2 | 12.3 |
| Contingent liabilities | None | None | None |
| Amounts in SEK M | Note | Mar 2012 | Mar 2011 | Dec 2011 |
|---|---|---|---|---|
| Opening balance at the beginning of the period | 844.4 | 748.5 | 748.5 | |
| Comprehensive income | ||||
| Translation differences | -0.8 | -0.8 | 0.9 | |
| Profit/loss for the period | -13.0 | -15.1 | 182.2 | |
| Total comprehensive income | -13.8 | -15.8 | 183.1 | |
| Transactions with shareholders | ||||
| Dividend to shareholders | 0.0 | 0,0 | -91,1 | |
| New share issue/share premium reserve | 0.0 | 0.0 | 3.8 | |
| Total transactions with shareholders | 0.0 | 0.0 | -87.3 | |
| Shareholders' equity at the end of the period | 830.5 | 732.7 | 844.4 |
| Amounts in SEK M | Jan - Mar | Jan - Mar | 12 months | Jan - Dec |
|---|---|---|---|---|
| 2012 | 2011 | Apr 2011- Mar 2012 |
2011 | |
| Cash flow from operating activities | ||||
| EBIT | -9.6 | -13.1 | 281.0 | 277.5 |
| Non-cash items | ||||
| - Depreciation/amortization of tangible and intangible | ||||
| fixed assets | 11.4 | 10.0 | 47.0 | 45.6 |
| - Other non-cash items | 0.1 | -0.4 | 2.9 | 2.3 |
| Interest received | 3.6 | 1.2 | 8.3 | 6.0 |
| Interest paid | -8.0 | -8.3 | -33.5 | -33.7 |
| Tax paid | -0.4 | -47.2 | -37.7 | -84.5 |
| Cash flow from operating activities before changes in | ||||
| working capital | -2.9 | -57.7 | 267.9 | 213.1 |
| Changes in working capital | ||||
| Increase/decrease in inventories and work in process | -47.1 | -29.8 | -110.4 | -93.0 |
| Increase/decrease in other current receivables | 11.8 | -11.2 | -20.5 | -43,4 |
| Increase/decrease in other current liabilities | 142.7 | 38.8 | 119.8 | 15.8 |
| Cash flow from operating activities | 104.5 | -59.8 | 256.8 | 92.5 |
| Cash flow from investing activities | ||||
| Investment in intangible fixed assets | -3.1 | -2.8 | -14.0 | -13.7 |
| Investment in tangible fixed assets | -9.1 | -2.7 | -29.3 | -23.0 |
| Divestment of tangible fixed assets | -0.1 | 0.0 | -0.2 | -0.1 |
| Investment in other financial fixed assets | 0.0 | 0.0 | 0.9 | 0.9 |
| Investment in subsidiaries | 0.0 | 0.0 | -0.2 | -0.2 |
| Proceeds from sale of subsidiaries | 0.0 | 0.0 | 26.8 | 26.8 |
| Cash flow from investing activities | -12.3 | -5.5 | 16.0 | -9.2 |
| Cash flow from financing activities | ||||
| New share issue/share premium reserve | 0.0 | 0.0 | 3.8 | 3.8 |
| Change in overdraft facilities | -58.5 | 71.1 | -30.5 | 99.1 |
| Dividend to shareholders | 0.0 | 0.0 | -91.1 | -91.1 |
| Amortization of loans | -7.1 | -6.4 | -106.2 | -105.5 |
| Cash flow from financing activities | -65.6 | 64.7 | -224.0 | -93.7 |
| Cash flow for the period | 26.5 | -0.6 | 16.8 | -10.4 |
| Cash and cash equivalents at the beginning of the period2 | 10.5 | 20.9 | 20.2 | 20.9 |
| Cash and cash equivalents at the end of the period2 | 37.0 | 20.2 | 37.0 | 10.5 |
2 Note that cash and cash equivalents in the cash flow are adjusted for restricted bank funds
| Amounts in SEK M | Jan - Mar | Jan - Mar | 12 months Apr 2011- |
Jan - Dec |
|---|---|---|---|---|
| Note | 2012 | 2011 | Mar 2012 | 2011 |
| Operating income | ||||
| Operating income | 0.1 | 0.1 | 0.3 | 0.3 |
| Total operating income | 0.1 | 0.1 | 0.3 | 0.3 |
| Operating expenses | ||||
| Other external expenses | -0.9 | -1.0 | -4.0 | -4.1 |
| Personnel costs | -0.1 | -0.1 | -0.4 | -0.4 |
| Total operating expenses | -1.0 | -1.1 | -4.4 | -4.5 |
| EBIT | -1.0 | -1.0 | -4.1 | -4.2 |
| Profit from financial items | -3.4 | -3.0 | -0.0 | 4.2 |
| Profit/loss before tax | -4.4 | -4.0 | -4.1 | 0.0 |
| Tax on profit/loss | 1.2 | 1.1 | 3.9 | 0.0 |
| Profit for the period | -3.2 | -2.9 | -0.3 | 0.0 |
The profit for the period corresponds with the comprehensive income for the period
| Amounts in SEK M Note |
Mar 2012 | Mar 2011 | Dec 2011 |
|---|---|---|---|
| ASSETS | |||
| Fixed assets | |||
| Financial fixed assets | 712.1 | 712.1 | 712.1 |
| Total fixed assets | 712.1 | 712.1 | 712.1 |
| Current assets | 4.3 | 3.4 | 15.2 |
| Total current assets | 4.3 | 3.4 | 15.3 |
| TOTAL ASSETS | 716.3 | 715.5 | 727.3 |
| Amounts in SEK M Note |
Mar 2012 | Mar 2011 | Dec 2011 |
| SHAREHOLDERS' EQUITY AND LIABILITIES | |||
| Shareholders' equity | 353.6 | 445.0 | 356.8 |
| Provisions | 0.0 | 0.0 | 0.0 |
| Total long-term liabilities | 130.0 | 170.0 | 130.0 |
| Current liabilities | 232.8 | 100.5 | 240.5 |
| TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES | 716.3 | 715.5 | 727.3 |
| Pledge assets | 358.0 | 358.0 | 358.0 |
| Contingent liabilities | None | None | None |
Note 1 Segments
| Amounts in SEK M | Jan - Mar | Jan - Mar | 12 months | Jan - Dec |
|---|---|---|---|---|
| Apr 2011- | ||||
| Net sales | 2012 | 2011 | Mar 2012 | 2011 |
| Nordic region | 451.4 | 369.5 | 3,069.0 | 2,987.1 |
The Group has only one identified operating segment, which is the Nordic segment.
Related parties to Byggmax comprise Senzum AB and Dustin Financial Services AB. Transactions carried out during the period did not amount to any significant amounts. The transactions were conducted on market-based terms.
| Q 1 | Q 2 | Q 3 | Q 4 | Q 1 | Q 2 | Q 3 | Q 4 | Q 1 | |
|---|---|---|---|---|---|---|---|---|---|
| 2010 | 2010 | 2010 | 2010 | 2011 | 2011 | 2011 | 2011 | 2012 | |
| Net Sales, SEK M | 324.5 | 856.2 | 1,043.2 | 549.1 | 369.5 | 899.3 | 1,100.0 | 618.4 | 451.4 |
| Gross margin, percent | 29.7 | 29.1 | 30.3 | 29.7 | 29.1 | 29.1 | 30.4 | 31.6 | 29.3 |
| EBIT, SEK M | -11.1 | 82.6 | 165.4 | 37.9 | -13.1 | 83.7 | 156.6 | 50.3 | -9.6 |
| EBIT margin, percent | -3.4 | 9.6 | 15.9 | 6.9 | -3.5 | 9.3 | 14.2 | 8.1 | -2.1 |
| Working capital, SEK M | 66.1 | -200.7 | -148.9 | 41.1 | 87.7 | -192.7 | -112.5 | 177.4 | 74.5 |
| Return on equity, percent | -4.3 | 11.7 | 16.5 | 2.7 | -2.0 | 7.3 | 14.8 | 4.0 | -1.6 |
| Cashflow from operating activities per share, SEK |
-0.8 | 5.5 | 1.1 | -2.4 | -1.0 | 5.6 | 0.6 | -3.6 | 1.7 |
| Shareholders' equity per | |||||||||
| share3 , SEK |
6.0 | 10.2 | 12.0 | 12.3 | 12.1 | 11.5 | 13.4 | 13.9 | 13.7 |
| Number of stores | 63 | 68 | 73 | 73 | 76 | 81 | 86 | 86 | 88 |
3Comparative figures have been adjusted for the share split 1:3 carried out on June 2, 2010.
The information contained in this interim report is disclosed by Byggmax in compliance with the Swedish Securities Market Act (2007:528). The information was released for publication at 8.00 (CET) on April 20, 2012.
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