Interim Report for Duni AB (publ) 1 January - 30 September 2018

STOCKHOLM, October 18, 2018 /PRNewswire/ --

Margins under pressure from higher pulp prices - efficiency program initiated 

1 July - 30 September

• Net sales amounted to SEK 1,190 m (1,082). Adjusted for exchange rate movements, net sales increased by 2.7%. Organic growth for the quarter was 0.8%.
• Earnings per share after dilution amounted to SEK 1.39 (1.68).
• Price increases to compensate for rising raw materials prices have been implemented and further price increases have been initiated.

1 January - 30 September

• Net sales amounted to SEK 3,467 m (3,188). Adjusted for exchange rate movements, net sales increased by 3.7%.
• Earnings per share after dilution amounted to SEK 4.00 (4.44).
• Pulp prices continued to rise during Q3, with an increase of more than 40% in euro terms during the past 12 months.

Events after the end of the period

• On 15 October, Duni acquired 75% of the shares in BioPak Pty Ltd in Australia and New Zealand.
• Duni has launched a cost efficiency program of indirect costs, leading to restructuring costs of around SEK 30 m in Q4. The fully implemented program is estimated to give annual savings of approximately SEK 30 m.

Key Financials

    SEK m                  3 months   3 months  9 months  9 months   12 months  12 months
                            Jul-Sep    Jul-Sep   Jan-Sep   Jan-Sep     Oct-Sep    Jan-Dec
                               2018       2017      2018      2017   2017/2018       2017
    Net sales                 1,190      1,082     3,467     3,188       4,721      4,441
     Operating income1)          107        123       293       322         463        491
     Operating margin1)         9.0%      11.4%      8.5%     10.1%        9.8%      11.1%
    Income after                 90        108       254       284         409        439
         financial items     
    Net income                   66         80       191       212         313        334

1)For key financials and reconciliation of alternative key financials, see pages 27-28: http://mb.cision.com/Main/295/2647670/928452.pdf