Clas Ohlson improves earnings – but it closes in the UK

Season Ohlson’s operating profit for the May 2020 – April 2021 business year was SEK 719 million, compared to SEK 608 million last year. The sales volume for the entire year 2021-2022 is SEK 8,784 million.

Profit after tax was SEK 523 million compared to SEK 421 million last year. During the fiscal year, sales increased six percent to 8,784 million, and Online sales by nine percent. Clas Ohlson also raises its operating margin target to 7-9 percent from the previous target of 5 percent.

The company is also closing its UK operations. The closing cost will be SEK 35 million and will be charged to the following business year.

– Under these circumstances, our employees have been able time and again to take on new challenges and deliver a very strong result for the full year and total sales that are now back to the same level they were before the pandemic. Operating margin for the full year was 7.3 per cent, thus within our profit target range, and total sales were approximately SEK 8.8 billion, an increase of 6 per cent. It is gratifying to note that our combined efforts during the year give us a good, continuing financial position and a firm foundation on which to plan for the future, he says. Christopher TandooriClas Ohlson, CEO of Clas Ohlson, in a comment.

For the fourth quarter, from February 1 to April 30, Clas Ohlson’s operating profit was SEK -10 million. The result after tax was -16 million SEK and sales were 1,780 million SEK, an increase of 12 percent from the previous quarter. Online sales are down 19 percent to 221 million, compared to 274 million.