Brief: Byggmax swings to Q1 loss, sets new financial targets

Byggmax AB

19/04/2016 07:01

April 19 (Reuters) - Byggmax Group Ab  BMAX.ST  
    * Q1 net sales amounted to SEK 737.9 M (570.0), up 29.5 
percent 
    * Q1 Net sales for comparable stores increased 5.3 percent 
(increased 12.0) 
    * Q1 EBITDA amounted to a negative SEK 24.2 m (positive 3.0) 
    * New financial targets mean that Byggmax net sales is to 
grow 15 percent per year over time, inclusive of acquisitions, 
and has to maintain an EBITDA margin of not less than 9 percent. 
    * The dividend should be not less than 50 percent of net 
profit  
    * The company's ambition, which is not a financial target, 
is to reach net sales of SEK 10 billion with an EBITDA margin of 
10 percent in 2020.  
 
Further company coverage:  BMAX.ST  
 
 (Reporting by Stockholm Newsroom) 
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