Boozt
Boozt delivers solid growth and improved profitability in the first quarter
Boozt AB Q1 report, January 1 - March 31 2023
Financial highlights
- Net revenue of SEK 1,525 million and a net revenue growth of 7.1% (local currency ~4%).
Net revenue growth of 12.3% for Boozt.com and -13.7% for Booztlet.com. - Gross margin of 38.5% (39.3).
- Adjusted EBIT margin of 1.1% (0.6).
- Earnings per share before dilution of SEK -0.07 (-0.11)
- Free cash flow of SEK -731 million (-502)
- Cash and cash equivalents of SEK 965 (1,119)
Significant events
- 2023 outlook of 5-15% net revenue growth and an adjusted EBIT between SEK 275-375 million
- Boozt announced long-term growth and profitability ambitions
Significant events after the period
- No significant events have occurred after the reporting date
Co-Founder & CEO Hermann Haraldsson says: “The first quarter of 2023 showcases solid growth and industryleading
profitability, despite muted consumer spending. I remain optimistic about our Nordic Department Store strategy, and see ample opportunities for growth. I am proud of our team's resilience in tackling challenges and driving our business forward. I am pleased that we are able to reconfirm our outlook for 2023.”
| SEK million unless otherwise indicated | Jan 1 - Mar 31, 2023 | Jan 1 - Mar 31, 2022 | Change |
| GROUP | |||
| Net revenue | 1,524.6 | 1,424.0 | 7.1% |
| Gross profit | 586.3 | 559.6 | 4.8% |
| EBIT | -2.5 | -4.8 | -49% |
| Adjusted EBIT | 17.0 | 8.8 | 93.5% |
| Earnings for the period | -4.9 | -7.6 | -35.1% |
| Free cash flow | -730.6 | -502.0 | 45.5% |
| Net revenue growth (%) | 7.1% | 25.2% | -18.1pp |
| Gross margin, (%) | 38.5% | 39.3% | -0.8pp |
| EBIT margin, (%) | -0.2% | -0.3% | 0.2pp |
| Adjusted EBIT margin, (%) | 1.1% | 0.6% | 0.5pp |
| Outlook for 2023 | Outlook as of February 10, 2023 |
| Net revenue growth | Between 5-15% |
| Adjusted EBIT (SEK million)* | 275-375 |
| The outlook assumes constant currencies from the time of this announcement and for the remainder of the financial year. *The Adjusted EBIT outlook for 2023 is positively impacted by a reassessment of the useful lives of selected parts of the Group’s fixed assets that mainly relates to the AutoStore installations. Compared to 2022, the positive impact on yearly depreciation on a like-for-like basis is in the level SEK 25 million. | |
Telephone conference / audiocast
Boozt’s Group CEO, Hermann Haraldsson, and Group CFO, Sandra Gadd, will present the Q1 report at a telephone conference / audiocast at 09.30 CET on Thursday, April 27, 2023. The presentation will be held in English and will be followed by a Q&A session.
If you wish to participate via webcast please use this link. Via the webcast you are able to ask written questions.
If you wish to participate via teleconference please register on this link. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
For presentation material, please visit Boozt’s website.
| Datum | 2023-04-27, kl 08:00 |
| Källa | MFN |
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