The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Niklas Ekman - Carnegie Investment Bank - Analyst
: Congratulations on very strong results. Can I ask you a little bit about current trading here with the continued good 8% growth. That's on two years
of tough comparisons. And we just got apparel data from Sweden this morning that was down more than 8%. So it seems to be a very challenging
macro environment.
Can you tell us a little bit more about the main drivers here? Which categories are performing the best? Do you have any underperformers what
do you see in terms of consumer behavior and maybe gaining at the expense of competition? Or any more flavor on the reason for this strong
performance?
Question: Niklas Ekman - Carnegie Investment Bank - Analyst
: Very good. And just to clarify, I noticed you had some new reporting here also in terms of sales on a monthly sales, you talk about other markets,
which is B2B for spares. Is that still the Nordics and that figure was down almost 50% in -- can you elaborate on that? And I guess, adjusting for that,
that means that your sales were up around 10% if you adjust for the B2B fluctuations. Is that correct?
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JUNE 12, 2025 / 7:00AM, CLASb.ST - Q4 2025 Clas Ohlson AB Earnings Call
Or am I missing something?
Question: Niklas Ekman - Carnegie Investment Bank - Analyst
: Very clear, very clear. And then speaking of currency here, the -- you mentioned the US dollar weakness. And I guess you've seen some of that
already here in Q4, but only a very limited effect, but that should be a potentially significant contributor in coming quarters? Or is there -- are there
other factors here that go the other way?
Question: Niklas Ekman - Carnegie Investment Bank - Analyst
: Clear. Just a final question because with that in mind, and you now have a margin of more than 10% for the full year, and you have currency tailwinds
in the coming quarters and quite strong momentum but you're still sticking to a 7% to 9% target. Is there anything you see in the short term that
argues why the margin should go back to that target range?
Question: Andreas Lundberg - SEB - Analyst
: Great. Coming back to the question on sourcing costs. You talked about lower sourcing cost and you're moving around a little bit to find competitive
prices. Is that the key reason for lower sourcing costs? Or is there anything else behind that?
Question: Andreas Lundberg - SEB - Analyst
: Okay, cool. And on the same or similar topic, you talk about price and product mix. Can you be more -- a little bit more concrete there what is
behind the positive effect on the margin?
Question: Andreas Lundberg - SEB - Analyst
: Okay. Got it. And pricing in general in the market, how would you say about that now versus a year ago?
Question: Andreas Lundberg - SEB - Analyst
: And now when you have upped our game in the last two or three years, how would you say competition has acted during this time to better
compete with you?
Question: Andreas Lundberg - SEB - Analyst
: Yeah. In general. Do you see any change in behavior from competition is, I guess, the main question.
Question: Andreas Lundberg - SEB - Analyst
: That's fine. Lastly, it seems that you had some payment issues the other day. Is that solved? And what was it about?
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