Annual Report 2015

Streamlining of operations and successful design

The rate of growth follows the market in general and is somewhat lower than last year. Net sales in comparable currency increased by 1.3 per cent, to SEK 4,200 (3,870) m.

Earnings per share following dilution amounted to SEK  7.37 (6.42). The Board of Directors proposes a dividend of SEK 5.00 (4.50) per share.

2015 – Finishing touches applied to the platform

In 2015, focus was placed on streamlining the strategic platform for continued growth. Efficiency improvements and consolidation at the paper mill in Skåpafors, Dalsland, have strengthened Duni’s position as a leading manufacturer of paper-based products for the set table. Innovative and environmentally-conscious product launches have contributed to increased growth and strengthened Duni as a brand. Acquisitions implemented in 2013 and 2014 have been integrated and contributed to the Group’s improved profitability. Duni’s sales increased to SEK 4.2 billion, with a profit margin of 12.6%. Organic growth amounted to 1.3%.

2016 – Time for growth

People get together at mealtimes, irrespective of culture. A setting enhanced by color and form creates a convivial atmosphere. Interest in decorating the table with well-designed, environmentally-conscious products is also steadily increasing. With a consolidated production base, an organization with a united brand and increased focus on contemporary design, Duni is well-prepared to meet demand. Priority is given to continued growth, both organic and through acquisitions. The objective is for all business areas to improve their profitability in 2016.

CEO STATEMENT

A STREAMLINED DUNI CREATES CONDITIONS FOR GROWTH

“2015 was the year when we continued to put the finishing touches to the platform on which Duni’s operations are based. With enhanced market intelligence, a streamlined production base and an improved design offering, we are now well positioned for further expansion.”

Read more here

4,200

Net sales increased to SEK 4,200 (3,870) m

528

Operating income increased to SEK 528 (452) m

12.6

Operating margin increased  to 12.6% (11.7%)

Key ratios, SEK M 1)

2015

2014

2013

2012

2011

Net sales

4 200

3 870

3 349

3 268

3 399

Operating income*

528

452

369

355

403

EBITDA*

656

572

473

454

496

Net income before tax

459

414

334

218

358

Net income for the year

346

302

254

137

261

Proposed dividend, SEK/Share

5.00

4.50

4.00

3.50

3.50

Shareholders’ equity

2 345

2 193

2 099

2 051

2 082

Return on equity, %

14.75

13.77

12.10

6.68

12.54

Number of employees

2 082

2 092

1 902

1 875

1 888

* Operating income and EBITDA are adjusted for non-recurring items. Comparison figures for 2012 are translated in accordance with new accounting principles.

1) Relates to continuing operations for all periods. The discontinued hygiene products business has been translated and, in accordance with IFRS, is reported on a line after the net income for the period for continuing operations.

Net sales
Net sales per business area
Net sales per geographic region

Mood
boosters

Goodfoodmood® is Duni’s new brand platform. It serves as an important strategic tool for achieving the overall objective of being the world’s most sought-after supplier of creative take-away products and inspiring tabletop concepts.

In order to create Goodfoodmood, Duni contributes four components to the mix of food and people, namely: color, design, material and creative table settings. We refer to them as mood boosters.

Read about our Mood Boosters