Boozt
Boozt delivers accelerated market share gains in the third quarter
Boozt AB Q3 report, January 1 - September 30 2022
Third quarter financial highlights
- Net revenue of SEK 1,328 million and a net revenue growth of 7.8% (local currency 4.1%). Net revenue growth of 8.2% for Boozt.com and 5.9% for Booztlet.com.
- Gross margin of 40.1% (40.4)
- Adjusted EBIT of SEK 25.5 million (24.3) and adjusted EBIT margin of 1.9% (2.0)
- Earnings per share before dilution of SEK 0.36 (-0.04)
- Free cash flow of SEK 90.1 million (-488.6)
- Cash and cash equivalents of SEK 1,024 million (1,228)
Year-to-date financial highlights
- Net revenue of SEK 4,305 million and a net revenue growth of 11.9% (local currency 8.9%). Net revenue growth of 9.0% for Boozt.com and 27.7% for Booztlet.com.
- Gross margin of 40.3% (40.1)
- Adjusted EBIT of SEK 115.2 million (193.1) and adjusted EBIT margin of 2.7% (5.0)
- Earnings per share before dilution of SEK 0.93 (1.55)
- Free cash flow of SEK -640.0 million (-692.2)
No significant events have occurred during the third quarter
Co-founder & CEO Hermann Haraldsson says: “The Nordic Department Store stands strong. We continue to improve the foundation of our business long term with an average order value reaching new heights as customers increasingly shop across our categories. Short term, we continue to deliver profitable growth while gaining market share at an increased pace. With a strong balance sheet and healthy inventory position we can be opportunistic for further organic growth opportunities.”
| SEK million unless otherwise indicated | Jul 1 - Sep 30, 2022 | Jul 1 - Sep 30, 2021 | Change | Jan 1 - Sep 30, 2022 | Jan 1 - Sep 30, 2021 | Change |
| GROUP | ||||||
| Net revenue | 1,328.1 | 1,232.1 | 7.8% | 4,305.3 | 3,845.8 | 11.9% |
| Gross profit | 532.3 | 497.7 | 7.0% | 1,733.8 | 1,544.0 | 12.3% |
| EBIT | 35.7 | 7.4 | 380% | 95.5 | 146.6 | -34.9% |
| Adjusted EBIT | 25.5 | 24.3 | 5.0% | 115.2 | 193.1 | -40.3% |
| Result for the period | 24.2 | 1.7 | 1,327% | 62.7 | 105.8 | -40.7% |
| Free cash flow | 90.1 | -488.6 | n.m. | -640.0 | -692.2 | -7.5% |
| Net revenue growth (%) | 7.8% | 31.1% | -23.3 pp | 11.9% | 31.1% | -19.1 pp |
| Gross margin, (%) | 40.1% | 40.4% | -0.3 pp | 40.3% | 40.1% | 0.1 pp |
| EBIT margin, (%) | 2.7% | 0.6% | 2.1 pp | 2.2% | 3.8% | -1.6 pp |
| Adjusted EBIT margin, (%) | 1.9% | 2.0% | -0.0 pp | 2.7% | 5.0% | -2.3 pp |
| Outlook for 2022 | Outlook 2022 as of June 9, 2022 | Previous Outlook | Reported 2021 |
| Net revenue growth | Between 10-15% | Between 20-25% | 33.4% |
| Adjusted EBIT | SEKm 235-285 | SEKm 365-420 | SEKm 342.5 |
| Current market situation provides a higher likelihood of achieving the lower end of the guidance in terms of net revenue growth. The outlook assumes constant currencies from the time of this announcement and for the remainder of the financial year. | |||
Telephone conference / audiocast
Boozt’s Group CEO, Hermann Haraldsson, and Group CFO, Sandra Gadd, will present the Q3 report at a telephone conference / audiocast at 09.30 CET on Tuesday, November 8, 2022. The presentation will be held in English and will be followed by a Q&A session (https://ir.financialhearings.com/boozt-q3-2022).
For presentation material, please visit Boozt’s website.
| Datum | 2022-11-08, kl 08:00 |
| Källa | MFN |
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