Desenio Group AB (publ) – Year-end Report 1 January – 31 December 2023
February 15, 2024 at 01:01 am EST
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During Q4, net sales increased by 4.3% to SEK 294.2 million and adjusted EBITA was SEK 37.7 million. Cash flow from operating activities amounted to SEK 29.6 million.
FOURTH QUARTER
Net sales increased by 4.3% to SEK 294.2 (282.1) million.
Gross margin for the quarter was 84.2% (85.6%).
Operating profit (EBIT), including impairment of intangible assets, amounted to SEK -220.0 (36.7) million, corresponding to an operating margin of -74.8% (13.0%)
Adjusted EBITA, excluding impairment of intangible assets and items affecting comparability, was SEK 37.7 (45.7) million, corresponding to an EBITA margin of 12.8% (16.2%).
Profit before tax was SEK -251.8 (22.4) million.
Cash flow from operating activities amounted to SEK 29.6 (23.9) million.
Earnings per share was SEK -1.71 (0.06) before dilution and SEK -1.71 (0.06) after dilution.
JANUARY – DECEMBER
Net sales increased by 0.2% to SEK 967.2 (964.9) million.
Gross margin for the period was 84.0% (84.0%).
Operating profit (EBIT), including impairment of intangible assets, amounted to SEK -175.0 (52.8) million, corresponding to an operating margin of 18.1% (5.5%).
Adjusted EBITA, excluding impairment of intangible assets and items affecting comparability, was SEK 109.7 (102.0) million corresponding to an adjusted EBITA margin of 11,3% (10,6%).
Profit before tax was SEK -273.6 (-14.6) million.
Cash flow from operating activities amounted to SEK 43.6 (25.0).
Earnings per share was SEK -1.91 (-0.16) before dilution and SEK -1.91 (-0.16) after dilution.
For the full year 2023, the Board proposes no ordinary dividend.
SIGNIFICANT EVENTS DURING THE PERIOD
Decision to write down goodwill as of 31 December 2023 for the Group, from SEK 834 to 584 million. The write-down does not affect cash flow.
In February, Desenio notified staff about a proposed reorganization which would impact approximately 10% of the employees in Sweden.
WEBCAST A webcast– in English – will be held at 09.00 CET. Fredrik Palm, CEO, and Anna Ståhle, CFO, will present the year-end report.
If you wish to participate via webcast, please use the link https://ir.financialhearings.com/desenio-group-q4-report-2023. Via the webcast you can ask written questions.
If you wish to participate via teleconference, please register on the link https://conference.financialhearings.com/teleconference/?id=50047322. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
FINANCIAL REPORTS The interim reports are available on the website: www.deseniogroup.com.
Desenio Group AB (publ) is a Sweden-based e-commerce company that is engaged in online sales of affordable wall art. The Companyâs offering consists of art prints of around 9,000 designs majority of which is proprietary to Desenio, Frames that are offered in various wooden and metal finishes in matching sizes to the posters, as well as other accessories including products such as mat boards, picture ledges, art clips, and other printed products, e.g., phone covers. The Company differentiates its two brands, Desenio and Poster Store. Desenio Group is primarily presented in Europe, with its core markets in Germany, United Kingdom, the Nordics, France and the Netherlands, and a growing presence in the USA and to some extent in Asia.
DESENIO GROUP AB 
