Brief: Pierce Group Q2 Adj EBITDA Lowers To SEK 3 Mln

Pierce AB (publ)

24/08/2022 07:15

Aug 24 (Reuters) - Pierce Group AB (publ)  PIERCE.ST :
    * Q2 NET REVENUE SEK 450 MLN VS SEK 451 MLN YR AGO
    * Q2 ADJ EBITDA SEK 3 MLN VS SEK 43 MLN YR AGO
    * ONLINE MARKET CONTINUED TO BE WEAK DURING QUARTER WITH
NEGATIVE
TRAFFIC GROWTH.
    * WORRISOME EXTERNAL ENVIRONMENT NEGATIVELY IMPACTS CONSUMER
BEHAVIOR
    * CONSUMER PRICES ARE SLOWLY AND CAUTIOUSLY INCREASING IN
MARKET,
BUT NOT ON LEVEL WITH RAPID MAJOR COST INCREASES IN VALUE CHAIN
    * CONTINUED HIGH INVENTORY LEVELS LIMIT POSSIBILITY OF FULLY
IMPLEMENTING PRICE INCREASES VIS-Á-VIS CUSTOMERS
    * WE CONTINUED TO PRIORITIZE SALES VOLUMES AND REDUCE
INVENTORY
AND NET DEBT.

Source text for Eikon:  ID:nMFN5s7rNX 
Further company coverage:  PIERCE.ST 

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