Clas Ohlson’s company is improving profits – but it’s closing in the UK

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

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

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

– In these circumstances, our people have time and again managed to take on new challenges and deliver a very strong full year result and total sales that are now back to the same level as before the pandemic. Operating margin for the full year was 7.3 percent, so within range of our profit target. Total sales were around SEK 8.8 billion, up 6 percent. It is gratifying to note that our joint efforts during the year give us a good and continuous financial position and a stable basis to stand on when we plan for the future, he says. Christopher TendrumClas Ohlson, CEO, commented.

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