Pergo reports 3Q interim results
Net sales during the first three quarters of 2001 were SEK 2,826 M, declining by 5% compared with sales in 2000. According to the company, lower prices and lower sales in major European retail chains and in North American specialty stores caused the decline. This year’s sales to The Home Depot exceeded last year’s sales, especially during the first six months of 2001.
Sales for the third quarter declined 7% compared with the third quarter of 2000. Pergo had an operating loss of SEK 173 M for the period from January to September.
In North America, the laminate flooring market was estimated to decrease slightly during the third quarter. A marked drop in sales was noticed after the Sept. 11 attacks in the United States.
In Europe, flooring products were negatively affected by an overall economic decline.
Net debt increased by SEK 369 M since the end of 2000 and amounted to SEK 609 M at the end of September.
Pergo is currently working on comprehensive marketing efforts and the launch of a new product portfolio.