Boozt delivers accelerated market share gains in the third quarter
November 08, 2022 at 02:01 am EST
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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.
Boozt AB is a Sweden-based company engaged in the provision of e-commerce solutions for the apparel industry. The Company offers customized e-commerce software and services that create e-commerce platforms, namely Boozt.com and its mono-brand stores, that are fully hosted and managed. Its software includes Propilot, a Web shop management administration system that enables changes to Web shop content; Podium, a front end module which ensures optimized user experience for users on mobile devices; Fastlane, a warehouse management system (WMS) that runs fulfillment processes in warehouses and integrates them with distribution partners; CS Eye, a customer overview service; and Brand Portal, a business intelligence (BI) service suite. Its services include the development of an initial strategy, building an online shop, fulfilling orders, handling returns, running ongoing campaigns and acquiring and retaining customers.
BOOZT AB 
