Strong second-quarter in an economy which continues to be a challenge 1 April – 30 June 2013 · Net sales amounted to SEK 914 m (934). Adjusted for exchange rate changes, net sales increased by 1.0%. · Earnings per share, after dilution, amounted to SEK 1.41 (1.19). · Seasonally, a historically strong operating margin of 10.0%. · On 17 June, Duni entered into an agreement for the acquisition of the assets in Song Seng Associates, the leading supplier of single-use packaging for food and beverages in Singapore with a growing export market in Southeast Asia. 1 January – 30 June 2013 · Net sales amounted to SEK 1,766 m (1,790). Adjusted for exchange rate changes, net sales increased by 1.7%. · Earnings per share, after dilution, amounted to SEK 2.18 (1.97). · Stability despite a somewhat declining European market. Key financials SEK m 3 month 3 month 6 months 6 months 12 12 months s s months January –December April- April January January July – 2012 June - –June –June June 2013 June 2013 2012 12/13 2012 Net sales 914 934 1 766 1 790 3 645 3 669 Operating 91 90 146 150 338 342 income1) 2) Operating 10.0% 9.6% 8.3% 8.4% 9.3% 9,3% margin1) 2) Income after 88 77 137 128 213 204 financial items 2) Net income2) 66 56 103 93 136 126 1) Underlying operating income; for link to reported operating income, see the section entitled "Non-recurring items". 2) Comparison figures for 2012 recalculated in accordance with IAS19R; see further in Note 2. CEO’s comments “The growth from the first quarter of the year was maintained into the second quarter and, despite low growth figures, it is pleasing that the pace exceeds the market in general. Sales during the second quarter amounted to SEK 914 m (934) which, measured at fixed exchange rates corresponds to an increase of 1.0% compared with last year. Operating income before non-recurring items was SEK 91 m (90) and the operating margin was 10.0% which is strong, for the second quarter, even from a historical perspective. The results were particularly good within Meal Service, which is a part of Professional, and in our markets outside of Europe. The growth trend is stable in markets such as Russia and the Middle East, and the export markets grew during the quarter by 28%. Within Europe, demand continues to be weak and industry statistics generally show either demand on par with last year or a decrease of a few percentage points. Within the segments, we see continued growth in easily accessible concepts such as Fast Food and take-away which, on most markets, occurs at the expense of growth via traditional restaurants. During the quarter, we decided to carry out organizational changes within each category. In order to increase the degree of specialization and strengthen the focus on prioritized customer segments, the sales organization is being integrated into each business area. The change, which is a natural step in the reorganization which was commenced during 2012, is creating the conditions for more efficient use of resources and improved integration between marketing and sales activities. The organizational change is being implemented in stages and it is anticipated that it will be fully implemented at the end of the first quarter of 2014. As a part of our increased focus on growth markets, the acquisition of Song Seng in Singapore was announced during the quarter. Song Seng has successfully conducted the purchase and sale of single-use products on the rapidly growing take-away market in Southeast Asia since 1984. In recent years, the company has increased its market presence significantly and invested in a structure which renders possible future growth. The acquisition creates a platform for the immediate launch of Duni's products while the business itself is both profitable and growing strongly. Professional reports at fixed exchange rates a marginal increase in sales during the quarter with strong earnings. Good cost controls and positive effects from purchasing, among other things, generated an operating margin for the quarter of 13.8% (12.9%). Developments in southern Europe continue to be a challenge while our primary markets are developing on par with last year. Customer-oriented work is at a high level but, as a consequence of poor demand, competition is increasing. The premium range is developing better than the range as a whole and efforts in Evolin® and other premium products continues. Sales for the quarter amounted to SEK 699 m (689) which, measured at fixed exchange rates, corresponds to a sales increase of 0.9%. Net income for the period comes in at SEK 94 m (90). Due to lower level of promotions, Consumer sales during the quarter were lower than last year. Net sales amounted to SEK 119 m (126) which, measured at fixed exchange rates, corresponds to a decrease in sales of 1.6%. The business climate in the Consumer business area is challenging and, despite the fact that several new customer contracts were implemented, sales came in at below last year's level. Viewed over two quarters and measured at fixed exchange rates, the business area grew by 6.7% but further measures must be taken in order to achieve stability. Operating income amounted to SEK -5 m (0) and was primarily affected by lower gross profits. The business operations within the Tissue business area follow the plan established in conjunction with the decision to leave the hygiene products market. All in all, and given the market situation, we are satisfied with the income for the quarter. It is pleasing that underlying growth persists and we have segments and markets reporting high growth. In addition, two important activities have been implemented with the acquisition of Song Seng and the change in the sales organization, initiatives which create opportunities for both enhanced profitability and faster growth,” says Thomas Gustafsson, President and CEO, Duni. Additional information is provided by: Thomas Gustafsson, President and CEO, +46 40 10 62 00 Mats Lindroth, CFO, +46 40 10 62 00 Helena Haglund, Group Accounting Manager, +46 734 19 63 04 Duni is a leading supplier of attractive and convenient products for table setting and takeaway. The Duni brand is sold in more than 40 markets and enjoys a number one position in Central and Northern Europe. Duni has some 1,900 employees in 18 countries, headquarters in Malmö and production units in Sweden, Germany and Poland. Duni is listed on NASDAQ OMX Stockholm under the ticker name “DUNI”. ISIN-code is SE 0000616716.
Interim Report for Duni AB (publ) 1 January – 30 June
Top 10 Most Recent News Articles
Reel Wheels: Hollywood's Iconic Car Collection Unveiled
Rolling Out the Legends: A Peek Inside Reel Wheels Picture something that screams Hollywood. Now, give it wheels, maybe some wings too. That's what Reel Wheels Entertainment has laid out—a mind-boggling assortment of film and TV vehicles. Released on September 30, 2026, this collection is a treasure trove of Hollywood's on-screen memorabilia, and they're not just...
Continue Reading
OSHA and NSC Forge Alliance to Prevent Worksite Tragedies
Forging Ahead With a Crucial Collaboration Ins, outs, ups, and downs—safety shouldn’t get lost in the shuffle, but it does. In steps the National Serious Injury and Fatality Prevention Alliance, a fresh partnership convened by OSHA with the National Safety Council—hop on board or get left behind mindsets. We’re talking about real, heads-down, hard-hitting actions...
Continue Reading
Local Expertise in Real Estate: Key to Success?
Local Market Know-How: A Seller's Best Asset So you're thinking about selling your home in North Carolina, huh? Here's a tip—get yourself a local real estate pro who knows the ins and outs of your neighborhood like the back of their hand. Michael McCollum, a prominent voice from Reidsville, NC, highlights how crucial local expertise can be in navigating the widely...
Continue Reading
Medicare Payment Proposal Faces Doctor Backlash in D.C.
Why Same-Day Medicare Care Matters Imagine you're gasping for breath, struggling to find relief, and then being told to wait weeks for care. It's not just an inconvenience; it's a health hazard. This isn't some arbitrary tale—it's the gritty reality for folks relying on same-day care. A group of docs and advocates recently stormed Capitol Hill sounding the alarm about a...
Continue Reading
University of Phoenix Grads Shine in Job Readiness
University of Phoenix Graduates Proving Their Worth Dive straight into the world of University of Phoenix grads, and you're looking at some folks who seem to have the workplace game figured out. A fresh Harris Poll, done on behalf of the University itself, paints a rosy picture of these graduates from the eyes of those who actually supervise them. Turns out, managers are...
Continue Reading
JennAir and Cosentino Introduce Seamless Kitchen Aesthetics
It's not every day that the kitchen landscape gets a bold makeover, but JennAir and Cosentino seem to think it's time. Introducing their latest splash, the JennAir x Dekton panel collection is here to redefine what luxury kitchens can look like—an embodiment of seamless beauty that’s more sculpture than cooking space. Elevating Kitchen Design So, what's the buzz about...
Continue Reading
Crucial Insights for South GA Home Insurance Choices
Understanding the Insurance Jargon Here we go again, dealing with insurance gobbledygook that’s about as clear as mud to most of us. Homeowners in South Georgia are being urged to pay attention to the differences between replacement cost and actual cash value in their insurance policies. This ain't just legalese, folks—it's your protection when disaster strikes in our...
Continue Reading
FSS Unveils AI Tool to Simplify Bankruptcy Cases
AI Revolution in Bankruptcy Management Alright, folks, there's a fresh breeze blowing in the bankruptcy management world, and it bears the acronym FSS. Financial Software Solutions is rolling out its innovative FSS Intelligence Engine. This little powerhouse aims to turn what used to be a gut-wrenching slog through mountains of paperwork into a slick, automated process....
Continue Reading
Roof Replacement Timelines: Key Insights for PA Homeowners
There's no denying it; having a roof over your head is one thing, but knowing when to replace it is a whole other ballgame. In Pennsylvania, where the weather loves to throw curveballs, making the right call on roof replacement can save a heap of trouble down the road. Thanks to Miguel Cornejo and his insights in HelloNation’s latest rundown, we get a clearer picture of...
Continue Reading
Superga and Pasqua's Unlikely Fashion-Vineyard Fusion
Superga and Pasqua: A Fusion of Fashion and Vineyards Here's one for the books: Superga, the storied Italian footwear maestro, teaming up with Pasqua Wines, straight out of Verona’s vineyard heartland. On the surface, it seems a rather odd coupling. One's got rubber soles; the other’s got corks. But they’ve pulled off a daring bedroom switch, creating a...
Continue ReadingTop 5 Most Recently Viewed Articles
Clever Care Health Plan Welcomes Karen Walker Johnson as CEO
Clever Care Health Plan Appoints New CEO Clever Care Health Plan is celebrating a significant leadership transition with the appointment of Karen Walker Johnson as its Chief Executive Officer. This appointment is a pivotal moment for the organization, as it continues to evolve in the ever-changing landscape of healthcare. Johnson previously served as the interim CEO,...
Continue Reading
Leadership Transition at the National Science Teaching Association
Leadership Transition at NSTA The National Science Teaching Association (NSTA) recently made a significant announcement regarding its leadership. Bob Lay has been appointed as the Interim Chief Executive Officer (CEO) following the decision of the previous CEO, Erika Shugart, Ph.D., to transition to a new phase in her career. Bob Lay Steps Up as Interim CEO Bob Lay, who...
Continue Reading
Shareholder Rights: A Closer Look at MRSN, CDTX, and RYI
Understanding Shareholder Rights in Mergers and Acquisitions In the dynamic world of corporate transactions, shareholders often find themselves at a crossroads where their rights may be compromised. Companies undergoing mergers or acquisitions can sometimes engage in practices that raise legal concerns, making it crucial for shareholders to be aware of their rights....
Continue Reading
Understanding Total Voting Rights of Northern 3 VCT PLC
Understanding Total Voting Rights of Northern 3 VCT PLC Northern 3 VCT PLC is committed to providing its shareholders with essential updates related to voting rights. As of a recent date, the Company has issued a total of 144,514,326 ordinary shares, each carrying a nominal value of 5p. Each share represents an opportunity for shareholders to participate actively in the...
Continue Reading
Purito Seoul Charts a Global Course with Celeb Clout
Pushing Beyond Boundaries with a New Global Vision Purito Seoul ain't just hurling darts at a board here. They've locked in their sights on 2026, and they're not shying away from ambitious goals. Teaming up with actress Natalia Dyer as their global ambassador, they're fortifying their brand persona like it's nobody's business. Say what you will about celebrity...
Continue Reading