Half-year report: Decline in sales in Scandinavia, growth in Poland and China

Sales reach 0% (3% in local currencies) in the first half of the fiscal year 2016/2017, corresponding to a turnover of DKK 1044 million and an EBIT of DKK 91 million.

Sales in the first six months reach DKK 1044 million against DKK 1042 million compared to the same period last year, corresponding to an increase of 0%. Sales have declined slightly in Scandinavia, while the Polish and Chinese market deliver growth. 

Sales in Denmark decrease by 2% compared with the same period last year, In Sweden sales are on par with last year both in Danish and local currencies, while sales in Norway are -1% (3% in local currencies) and ‘other countries’ deliver a growth of 7% (14% in local currencies). 

Flügger maintains the outlook announced at the annual general meeting in August, and thus expects a turnover of DKK 1,850 billion and an EBIT of DKK 40-50 million for the full fiscal year 2016/17. 

Jimmi Mortensen, CEO of Flügger A/S, comments:

"Flügger has experienced many challenges the last couple of years, and we still have work ahead of us, before we are fully back on track. Since autumn we have launched a wide range of initiatives that are essential for us on our journey to strengthen our EBIT going forward. We rationalise our product range, and continue to develop and upgrade specific product groups, to ensure that we meet the changing demands in the market. We furthermore consolidate our network of stores, with a strong focus on having attractive physical locations, and ensuring that we utilise our stores in the best possible way."