Q1 2022 Clas Ohlson AB Earnings Call Transcript
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Good morning, and welcome to the Clas Ohlson Q1 report. I'm Kristofer Tonstrom, President and CEO. And with me today, I have Par Christiansen, our CFO.
As always, we'll start with a short presentation, and then we'll move into to a Q&A. So I'll do a business update. Par will take us through the financial development and the events after the reporting period. And then I'll do a summary and an outlook, and then we'll do the Q&A.
So headlining the first quarter. We have delivered a solid quarter with strong profitability, little bit more than SEK 2 billion in sales and SEK 147 million in operating profit. So the operating profit is slightly down versus last year, but it's the second best Q1 ever and 86% above Q1 in 2019. And we've done that by being agile and adapting to the very fluctuating market conditions and by staying very focused on our core business.
So to just dig a little bit deeper, looking at the first quarter, we saw organic sales
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