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Desenio Group AB (publ) – Half-Year Report Jan 1–Jun 30 2022

MAR

SECOND QUARTER

  • Net sales decreased 31.3% to SEK 182.9 (266.2) million.
  • Gross margin for the period was 83.1% (81.1%).
  • Operating result amounted to SEK -28.1 (19.3) million, corresponding to an operating margin of -15.4% (7.2%).
  • Adjusted EBITA was SEK -8.4 (31.8) million, corresponding to an adjusted EBITA margin of -4.6% (11.9%).
  • Result before tax was SEK -48.3 (3.4) million.
  • Cash flow from operating activities amounted to SEK 9.3 (-68.8) million.
  • Earnings per share was SEK -0.29 (0.02) before dilution and SEK -0.29 (0.02) after dilution.

JANUARY-JUNE

  • Net sales decreased 29.6% to SEK 470.5 (668.3) million.
  • Gross margin for the period was 83.1% (81.8%).
  • Operating result amounted to SEK -3.0 (86.7) million, corresponding to an operating margin of -0.6% (13.0%).
  • Adjusted EBITA was SEK 28.1 (123.4) million, corresponding to an adjusted EBITA margin of 6.0% (18.5%).
  • Result before tax was SEK -37.0 (53.5) million.
  • Cash flow from operating activities amounted to SEK -39.5 (-38.2) million.
  • Earnings per share was SEK -0.23 (0.30) before dilution and SEK -0.22 (0.28) after dilution.

Significant events during and after the period
On 14 June the company announced that a decision had been made to implement cost reductions of SEK 32 million
on an annual basis to adapt its operations to a challenging market with declining online consumption. The cost of the
savings program amounts to just under SEK 10.7 million and is reported as a non-recurring cost in the second quarter
of 2022. Cost savings are expected to have a full cash flow effect during the fourth quarter of 2022. The action program
has been implemented as of the date of this report. The company also announced that net sales for the months April-May amounted to SEK 132 million with an operating result of SEK -13 million.

Webcast in connection with the publication of the Half-Year Report 2022
A webcast - in English – will be held at 09.00 CEST. Fredrik Palm, CEO, and Kristian Lustin, CFO, will present the Interim report. Please find a link to the webcast below.

Webcast: https://tv.streamfabriken.com/desenio-group-q2-2022

Financial reports
The interim reports are available on the website: www.deseniogroup.com

For further information, please contact:

Fredrik Palm, CEO, fredrik.palm@deseniogroup.com, +46 70 080 76 37
Kristian Lustin, CFO, kristian.lustin@deseniogroup.com, +46 76 887 24 63
Johan Hähnel, Head of IR, johan.hahnel@deseniogroup.com, +46 706 05 63 34

This information is information that Desenio Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-07-14 07:00 CEST.

Certified Adviser

FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at info@fnca.se or +46 (0)8 5280 0399.

About Desenio Group

Desenio Group is the leading e-commerce company within affordable wall art in Europe, with a growing presence in North America. We offer our customers a unique and curated assortment of about 9,000 designs as well as frames and accessories in 35 countries via 44 local websites and are steadily expanding to new markets.
 
Desenio Group is well positioned to build upon our dynamic growth model, including our proprietary technical platform, industrialized creative processes and efficient customer acquisition approach.
 
We are headquartered in Stockholm, Sweden, with fulfilment centres in Sweden and Czech Republic. Our share is traded on Nasdaq First North Growth market, under the ticker “DSNO”.

Attachments

Interim Report Q2 2022

Datum 2022-07-14, kl 07:00
Källa MFN
Bifogade filer
Interim Report Q2 2022
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