October 25, 2019 / 5:44 AM / 18 days ago

CORRECTED-BRIEF-Essity Q3 Adjusted EBITA Sek 4.18 Billion

(Corrects Q3 sales in the penultimate bullet to SEK 32.57 bln from SEK 29.64 bln)

Oct 25 (Reuters) - Essity AB (publ):

* INTERIM REPORT THIRD QUARTER 2019

* QUARTER WAS CHARACTERIZED BY STRONG DEVELOPMENT IN TERMS OF GROWTH AND PROFITABILITY

* ALL BUSINESS AREAS DEMONSTRATED HEALTHY GROWTH DUE TO IMPLEMENTED PRICE INCREASES, A BETTER MIX AND HIGHER VOLUMES.

* GROWTH WAS STRENGTHENED BY INNOVATIONS AND INVESTMENTS IN SALES AND MARKETING ACTIVITIES.

* WE CONTINUED OUR SUCCESSFUL INNOVATION WORK TO INCREASE CUSTOMER AND CONSUMER VALUE AND REDUCE ENVIRONMENTAL FOOTPRINT

* TOTAL COST SAVINGS AMOUNTED TO SEK 271M DURING QUARTER, OF WHICH SEK 179M WAS RELATED TO GROUP-WIDE COST-SAVINGS PROGRAM.

* WE HAVE CHANGED OUR AMBITION TO ACHIEVE SEK 600-700M IN ONGOING SAVINGS AND SEK 1.2-1.3BN IN TOTAL COST SAVINGS FOR FULL-YEAR 2019

* EARNINGS WERE POSITIVELY IMPACTED BY HIGHER PRICES, A BETTER MIX, HIGHER VOLUMES, LOWER RAW MATERIAL AND ENERGY COSTS AND COST SAVINGS

* STOCK REVALUATIONS, DUE TO LOWER RAW MATERIAL PRICES, AND HIGHER DISTRIBUTION COSTS HAD A NEGATIVE IMPACT ON EARNINGS

* Q3 NET SALES 32.57 BILLION (REFINTIV POLL AT SEK 31.6 BILLION)

* Q3 ADJUSTED EBITA SEK 4.18 BILLION (REFINITIV POLL AT SEK 3.84 BILLION) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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