Boozt

Financial highligths

• Net revenue increased 11% to SEK 1,872 million (Q2 2023: 1,687), driven by both Boozt.com (+10%) and Booztlet.com (+13%). Active customers increased with 11% combined for the two sites
• Gross margin was 41.9%, down from 42.3% in Q2 2023
• Adjusted EBIT was SEK 92 million (86) corresponding to an adjusted EBIT margin of 4.9% (5.1%)
• EBIT was SEK 79 (66) corresponding to an EBIT margin of 4.2% (3.9%)
• Profit for the period was SEK 59 million (66)
• Free cash flow increased to SEK 90 million (-5)
• Boozt initiated share repurchase program with the intent to buy back own share for up to SEK 200 million
• The Norwegian Court of appeal ruled in favour of Boozt in dispute with the Norwegian Tax Administration. The verdict can be appealed
• Outlook for 2024 narrowed to reflect the year-to-date performance as well as the continuously challenging trading environment. Boozt now expects revenue growth in the range of 7-11% (previously 5-15%) and an adjusted EBIT margin of 5.2-5.7% (previously 5.2-6.0%).

Co-Founder & CEO Hermann Haraldsson says: “The market for Fashion and Lifestyle remains challenging, but we assess that we continued to take market shares in the quarter, as we stay focused and execute on our strategy to become the leading Nordic department store. As weather became better in the region, our growth in the second quarter improved and I am again pleased to see that we still attract a lot of new customers, despite a muted consumer environment. During the quarter, almost 300,000 new customers bought at our sites. Profitability remains solid, however, slightly down in the quarter compared with last year. Still, I believe that we are well on track to reach our target of an adjusted EBIT margin of 10% in five years' time.”

Telephone conference / audiocast
Boozt’s Group CEO, Hermann Haraldsson, and Group CFO, Sandra Gadd, will present the Q2 report at a telephone conference / audiocast at 09.30 CET on Friday, August 16, 2024. 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.