Lower dividend cut Byggmax – Dagens Industri

The Board of Byggmax proposes a dividend of SEK 2.14 per share, compared with last year’s SEK 2.60.

Magnus Agervald underscores However, the dividend is in line with the Company’s policy of distributing 50 percent of net profit.

“Given that we are made two major acquisitions, Skåne ware and Buildor, in autumn, we have taken up quite a lot more debt. This is a way to manage our debt and 50 percent of net profit is still a lot of money, “he says to D.

While usually many to see it as a strong signal value to lower dividend?

“Yes, certainly, if it had reduced the dividend for no reason. But a dividend reduction of 30 million when we bought the company for 1 billion have still seen as rather moderate. “

The dividend reduction is weaker market outlook does not seem to be the case. According to Magnus Agervald the Swedish market is stronger than ever.

“you talk to around in the market, it is all right positive for 2016, although rotavdraget lowered.”

And Norway?

“Norway is more is uncertain. The Norwegian krone has gone down and the price of oil has fallen, affecting their economy much . So far it tuffat relatively good but it is more difficult to predict how the Norwegian consumers will act. “

Even at that Finnish market remains uncertain, according to CEO: n.

Despite this, Byggmax strong sales growth in all three countries during the fourth quarter.

Total sales rose almost 21 percent to 839 million and in comparable stores the increase was just over 16 percent.

“It was a very strong quarter in terms of sales,” says Magnus Agervald.

Profit pressed simultaneously increased costs, primarily related to new stores. Operating profit was SEK 36 million, including acquisition costs of approximately SEK 9 million, compared with SEK 38 million in the corresponding quarter of 2014. This means that the operating margin fell to 4.2 percent from 5.4 percent.

On the last line became a profit of 26 million in the fourth quarter, compared with 31 million last year.

As for 2016 repeats the company’s expansion plan for 10-15 new stores, but warns against it can be difficult to achieve at reasonable rents due to the hot real estate market.