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Breaking Flooring NewsBusiness Insights

Kährs Group Reports Q4 Sales Drop, Sees Order Uptick Amid Market Challenges

By FLOOR Trends & Installation Editors
Kahrs-Logo
February 20, 2025
Swedish flooring specialist Kährs Group reported mixed results for the fourth quarter of 2024, with sales continuing to decline while order intake showed signs of improvement in a challenging market environment.

The company's Q4 sales fell 11% to SEK 545 million [US $51 million] compared to the same period last year, with both Nordic and North American markets showing continued weakness. However, order intake increased by 4%, marking the first growth in order backlog since Q3 2022, rising SEK 28 million [US $2.6 million] or 13%.

During the quarter, Kährs completed the divestment of its Russian operations, resulting in a SEK 14 million [US $1.3 million] capital loss. The company also secured new bond financing with a four-year maturity extending to November 2028, though this led to financial costs of SEK 62 million [US $5.8 million]

CEO Johan Magnusson expressed optimism about future market conditions, citing expected interest rate cuts as a potential catalyst for demand recovery. "Despite a decline in consumer disposable income in 2024, the renovation segment shows signs of recovery," Magnusson noted.

The company is implementing strategic initiatives, including consolidating European production of parquet and multi-layer wood flooring in Sweden while expanding its presence in key markets. Notable developments include a new American-made parquet collection and the launch of PVC-free flooring made from recycled materials for healthcare and education sectors.

For the full year 2024, Kährs reported net sales of SEK 2,391 million , down 17% from 2023, with operating EBITA margin declining to 3.1% from 8.7% the previous year.

KEYWORDS: financial insights flooring manufacturers

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