Brief: Duni Jan-March EBIT Turns To Profit Of SEK 51 Million

Duni AB

22/04/2022 07:08

April 22 (Reuters) - Duni AB  DUNI.ST :
    * DESPITE CONTINUED MARKET UNREST, WE ARE EXPERIENCING A
NORMALIZATION OF DEMAND AS A RESULT OF EASING RESTRICTIONS, AND
WE LOOK FORWARD WITH CONFIDENCE TO SPRING AND SUMMER
    * MANY MARKETS HAVE GRADUALLY OPENED UP, BUT GERMANY AND
BENELUX
CONTINUED TO HAVE STRICT RESTRICTIONS DURING FIRST TWO MONTHS OF
YEAR
    * JAN-MARCH NET SALES SEK 1,443 MILLION VERSUS SEK 932
MILLION
YEAR AGO
    * CLEAR CORRELATION BETWEEN REDUCED SALES AND RESTRICTIONS,
REGULATED OPENING HOURS AND CLOSURES THAT WE HAVE SEEN EARLIER
DURING PANDEMIC WAS ONCE AGAIN REMINDED
    * DURING MARCH, DEMAND AND THEREFORE SALES INCREASED, WHICH
CONFIRMS SIGNS WE HAVE SEEN OF A RAPIDLY RECOVERING MARKET
    * DUNI BUSINESS AREA WAS AFFECTED BY ANOTHER QUARTER OF
RESTRICTIONS. DESPITE THIS, SALES INCREASED BY 100% COMPARED TO
Q1 OF 2021, HOWEVER RESTRICTIONS WERE TOUGHER IN 2021 THAN IN
THIS YEAR
    * JAN-MARCH OPERATING INCOME SEK 51 MILLION VERSUS LOSS SEK
41
MILLION YEAR AGO
    * AS PREVIOUSLY ANNOUNCED, WE MADE AN EARLY DECISION TO STOP
ALL
DELIVERIES TO RUSSIA AND HAVE DURING QUARTER WORKED INTENSIVELY
TO CLOSE OUR BUSINESS THERE IN A RESPONSIBLE WAY
    * DIVESTMENT ENTAILS A RESTRUCTURING COST OF APPROXIMATELY
SEK 9
M, BURDEN EARNINGS FOR Q1

Source text for Eikon:  ID:nWkr44j9GV 
Further company coverage:  DUNI.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))