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ITAB Shop Concept - Year-End Report January - December 2020


News provided by

ITAB Shop Concept

09 Feb, 2021, 12:23 GMT

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JÖNKÖPING, Sweden, Feb. 9, 2021 /PRNewswire/ --

THE INTERIM PERIOD JANUARY-DECEMBER 2020

  • Net sales decreased -12% to SEK 5,323 million (6,064)
  • Operating profit amounted to SEK 112 million (257)
  • Profit after financial items amounted to SEK 0 million (174)
  • Profit after tax amounted to SEK -22 million (120)
  • Earnings per share amounted to SEK -0,21 (1,17)
  • Cash flow from operating activities amounted to SEK 811 million (478)

In 2020, non-recurring items impacted the profit after financial items by SEK -208 million (16).

  • EBITDA excl. non-recurring items amounted to SEK 578 million (516)


OCTOBER-DECEMBER 2020

  • Net sales decreased -1.0 % to SEK 1,507 million (1,517)
  • Operating profit amounted to SEK -46 million (-39)
  • Profit after financial items amounted to SEK 85 million (63)
  • Profit after tax amounted to SEK -77 million (-58)
  • Earnings per share amounted to SEK -0,74 (-0,57)
  • Cash flow from operating activities amounted to SEK 300 million (238)

In the fourth quarter 2020, non-recurring items impacted the profit after financial items by SEK -154 million (-46).

  • EBITDA excl. non-recurring items amounted to SEK 172 million (90)
  • Net debt amounted to SEK 1,748 million (2,509)
  • Net debt excl. lease liability amounted to SEK 1,092 million (1,746)


IMPORTANT EVENTS DURING JANUARY- DECEMBER 2020

  • The interim period was overshadowed by the Covid-19 pandemic. Extensive measures in the form of cost adjustments, redundancy notices, temporary layoffs and redundancies has been made to adapt operations to the reduced demand (see pg. 5).
  • ITAB has renegotiated terms of its credit facilities and entered into short-term shareholders' loans (see pg. 5).
  • A new CFO and a new COO has been assigned.
  • ITAB and Ombori have developed the next generation of Ombori Grid, a digital platform, that will support retailers in their ambitions to create seamless multichannel experiences.
  • ITAB Group has appointed adviser with respect to its financial options to transform its business and consolidate its market position as the leading retail solution provider.
  • ITAB's Board of Directors has decided to announce the intention to raise new capital in order to strengthen the company's balance sheet and provide additional financing flexibility, as well as to invest in the One ITAB transformation plan.
  • ITAB Shop Concept AB's (publ) Italian subsidiary ITAB La Fortezza s.p.a. has on October 8th, 2020 entered into an agreement with Cefla soc. coop. to acquire 81% of Cefla's retail solutions business unit.
  • ITAB announces its intention to conduct a recapitalisation through a rights issue of MSEK 768 and the entry of a new long-term and active main owner.

This information is information that ITAB Shop Concept AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication at 1 pm February 9, 2021.

For further information, please contact:
ITAB Shop Concept AB 
Ulrika Bergmo Sköld, CFO
Telephone:  +46 36 31 73 00
Mobile:   +46 732-30 05 98
Box 9054, SE-550 09 JÖNKÖPING 
Telephone: +46 36 31 73 00
itab.com, itabgroup.com  

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/itab-shop-concept/r/year-end-report-january---december-2020,c3282919

The following files are available for download:

https://mb.cision.com/Main/862/3282919/1370081.pdf

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