{"id":1872,"date":"2025-06-12T11:59:16","date_gmt":"2025-06-12T11:59:16","guid":{"rendered":"https:\/\/incirrata.se\/?p=1872"},"modified":"2025-06-12T12:23:53","modified_gmt":"2025-06-12T12:23:53","slug":"clas-ohlson-i-mp-quality-hojer-ribban-starkt-avslut-pa-rekordar","status":"publish","type":"post","link":"https:\/\/incirrata.se\/en\/clas-ohlson-i-mp-quality-hojer-ribban-starkt-avslut-pa-rekordar\/","title":{"rendered":"Clas Ohlson (in Model Portfolio Quality) surges &gt;15% on the report \u2013 strong end to record year"},"content":{"rendered":"<h3 class=\"wp-block-heading\">Operating margin above target \u2013 and rising<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Clas Ohlson ends the year with an operating margin of 10.1 %, well above the target level of 7\u20139 %. EBIT for Q4 landed at SEK 109 million (65), which exceeded estimates. According to the CEO, the currency tail from the dollar&#039;s weakening has not yet fully taken effect: <em>\u201cWe expect positive currency effects in the coming quarters \u2013 there is nothing to indicate lower margins in the short term\u201d<\/em> (conf call).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Growth drivers deliver<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">All five product niches are growing, e-commerce is up 19% and now accounts for 21% of total sales. The broad offering provides resilience in weak seasons: <em>\u201cWe have grown despite cool spring weather \u2013 lawn mowers and technology products took over where fans lost out\u201d<\/em>, said Tonstr\u00f6m. The number of Club Clas members increased by 500,000 to 5.9 million.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Top-notch cash flow \u2013 continued investment pace<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Free cash flow amounted to SEK 1.1 billion and the strong balance sheet enables both a dividend (SEK 7\/share) and an increased investment rate. SEK 250 million will be invested in the coming year in the store network, automation and IT. <em>\u201cWe have a scalable, efficient platform \u2013 now we are investing to grow further and take market share\u201d<\/em>, summarized Tonstr\u00f6m (conf call).<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"697\" height=\"855\" src=\"https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image.png\" alt=\"\" class=\"wp-image-1873\" srcset=\"https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image.png 697w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-245x300.png 245w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-10x12.png 10w\" sizes=\"(max-width: 697px) 100vw, 697px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"676\" height=\"395\" src=\"https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-2.png\" alt=\"\" class=\"wp-image-1875\" srcset=\"https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-2.png 676w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-2-300x175.png 300w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-2-18x12.png 18w\" sizes=\"(max-width: 676px) 100vw, 676px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"675\" height=\"294\" src=\"https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-3.png\" alt=\"\" class=\"wp-image-1876\" srcset=\"https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-3.png 675w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-3-300x131.png 300w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-3-18x8.png 18w\" sizes=\"(max-width: 675px) 100vw, 675px\" \/><figcaption class=\"wp-element-caption\"><sup>Source: Factset<\/sup><\/figcaption><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Model portfolio Quality +8.5% year to date, Model portfolio Opportunity +17.2%  <\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Model portfolio Quality <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Existing holdings +7.0%, including cash +8.5% so far this year. Read more about the portfolio, strategy and holdings here <a href=\"https:\/\/incirrata.se\/en\/quality\/.\/\">https:\/\/incirrata.se\/quality\/.<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"823\" height=\"551\" src=\"https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-4.png\" alt=\"\" class=\"wp-image-1877\" srcset=\"https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-4.png 823w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-4-300x201.png 300w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-4-768x514.png 768w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-4-18x12.png 18w\" sizes=\"(max-width: 823px) 100vw, 823px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Model portfolio Opportunity <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Existing holdings +16.0%, including cash +17.2% so far this year. Read more about the portfolio, strategy and holdings here <a href=\"https:\/\/incirrata.se\/en\/opportunity\/\">https:\/\/incirrata.se\/opportunity\/<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"823\" height=\"549\" src=\"https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-5.png\" alt=\"\" class=\"wp-image-1878\" srcset=\"https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-5.png 823w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-5-300x200.png 300w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-5-768x512.png 768w, https:\/\/incirrata.se\/wp-content\/uploads\/2025\/06\/image-5-18x12.png 18w\" sizes=\"(max-width: 823px) 100vw, 823px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>","protected":false},"excerpt":{"rendered":"<p>Clas Ohlson, which is part of the Quality Model Portfolio, exceeded expectations by a wide margin. The share surged &gt;15% on the news and is now trading at 7.5% FCFyield. \u201cWe are well positioned to continue creating value,\u201d said CEO Kristofer Tonstr\u00f6m in today&#039;s conference call.<\/p>","protected":false},"author":1,"featured_media":1884,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[14],"tags":[25],"class_list":["post-1872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-update","tag-clas-ohlson"],"_links":{"self":[{"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/posts\/1872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/comments?post=1872"}],"version-history":[{"count":9,"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/posts\/1872\/revisions"}],"predecessor-version":[{"id":1894,"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/posts\/1872\/revisions\/1894"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/media\/1884"}],"wp:attachment":[{"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/media?parent=1872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/categories?post=1872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/incirrata.se\/en\/wp-json\/wp\/v2\/tags?post=1872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}