Financial highlights
- Net revenue of SEK 1,424 million and a net revenue growth of 25.2% (local currency ~22%).
Net revenue growth of 21.4% for Boozt.com and 42.8% for Booztlet.com. - Gross margin of 39.3% (40.3).
- Adjusted EBIT margin of 0.6% (6.0).
- Earnings per share before dilution of SEK -0.11 (0.67)
- Free cash flow of SEK -502 million (-236)
- Cash and cash equivalents of SEK 1,119 (1,422)
Significant events
- 2022 outlook of 20-25% net revenue growth and an adjusted EBIT between SEK 365-420 million
- Boozt acquired the remaining 33.3% of the shares of Everyday Luxury Feeling A/S (Rosemunde)
Significant events after the period
- Prolongation of revolving credit facility of SEK 200 million until February, 2024
CEO Hermann Haraldsson says: “Our business is in great shape and we managed to continue to take significant market share in the first quarter. The Nordic Department Store strategy continues to gain momentum and we are well positioned to continue this journey backed by a strong balance sheet. I am pleased that we are able to reconfirm our outlook for 2022, despite increasing uncertainty and more challenging market conditions in terms of consumer sentiment and inflationary pressure impacting our cost base.”
| SEK million unless otherwise indicated | Jan 1 - Mar 31, 2022 | Jan 1 - Mar 31, 2021 | Change |
| GROUP | | | |
| Net revenue | 1,424.0 | 1,137.4 | 25.2% |
| Gross profit | 559.6 | 458.0 | 22.2% |
| EBIT | -4.8 | 58.3 | n.m. |
| Adjusted EBIT | 8.8 | 68.7 | -87.2% |
| Earnings for the period | -7.6 | 42.9 | -50.5 |
| Free cash flow | -502.0 | 235.9 | -266.1 |
| Net revenue growth (%) | 25.2% | 48.5% | -23.3pp |
| Gross margin, (%) | 39.3% | 40.3% | -1.0pp |
| EBIT margin, (%) | -0.3% | 5.1% | -5.5pp |
| Adjusted EBIT margin, (%) | 0.6% | 6.0% | -5.4pp |
| Outlook for 2022 | Outlook 2022 |
| Net revenue growth | Between 20-25% |
| Adjusted EBIT (SEK million) | 365-420 |
Current market situation provides a higher likelihood of achieving the bottom end of the guidance in terms of net revenue growth and adjusted EBIT.
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 Q1 report at a telephone conference / audiocast at 09.30 CET on Thursday, April 28, 2022. The presentation will be held in English and will be followed by a Q&A session (https://tv.streamfabriken.com/boozt-q1-2022).
For presentation material, please visit Boozt’s website.