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Clas Ohlson fiscal Q4 loss narrows YOY

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Capital Markets View – January 2021


Clas Ohlson fiscal Q4 loss narrows YOY

Clas Ohlson AB said its normalized net income for the fiscal fourth quarter ended April 30 amounted to a loss of 5 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of a loss of 14 öre per share.

The per-share loss decreased 60.4% year over year from 12 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.1 million kronor, compared with a loss of 7.9 million kronor in the prior-year period.

The normalized profit margin climbed to negative 0.2% from negative 0.6% in the year-earlier period.

Total revenue climbed 8.1% year over year to 1.50 billion kronor from 1.39 billion kronor, and total operating expenses grew 7.5% on an annual basis to 1.50 billion kronor from 1.40 billion kronor.

Reported net income came to a loss of 4.8 million kronor, or a loss of 8 öre per share, compared to a loss of 12.5 million kronor, or a loss of 20 öre per share, in the prior-year period.

For the year, the company's normalized net income totaled 5.91 kronor per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 7.21 kronor.

EPS rose 11.7% from 5.29 kronor in the prior year.

Normalized net income was 374.7 million kronor, an increase of 11.9% from 334.8 million kronor in the prior year.

Full-year total revenue grew 7.7% on an annual basis to 7.33 billion kronor from 6.81 billion kronor, and total operating expenses grew 7.3% on an annual basis to 6.73 billion kronor from 6.27 billion kronor.

The company said reported net income rose 13.2% year over year to 459.0 million kronor, or 7.24 kronor per share, in the full year, from 405.4 million kronor, or 6.41 kronor per share.

As of July 15, US$1 was equivalent to 8.52 Swedish kronor.