Nobia fourth quarter 2020 sales “will exceed expectations”

Kitchen furniture group Nobia has reported net sales and operating profit will exceed expectations" due to "strong trading" in Nordic and Central Europe

18 Jan, 21

Kitchen furniture group Nobia has reported net sales and operating profit will exceed expectations” due to “strong trading” in Nordic and Central Europe regions.

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According to the group, net sales are estimated at SEK 3,449m (SEK 3,445m in Q4 2019) with an
organic growth of approximately 5%.

The operating profit, excluding items affecting comparability, is expected to be in the range of SEK 290 – 300m (SEK 214m inQ4 2019 including SEK -30m of non-recurring cost).

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Items affecting comparability for the quarter is estimated to amount to SEK -144m.

However, Nobia states market conditions since December are still impacted by the COVID pandemic, with lockdowns impacting consumers’ access to its store network, “especially so” in the UK, Denmark and Austria.

It follows on from the report of its third quarter sales, president and CEO Jon Sintorn said was “fragmented” but “characterised by stabilisation and recovery for several of our businesses.”

All the figures are preliminary and unaudited, as Nobia will release its year-end report 2020 on February 4, 2021.

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