Adjusted EBITA margin increased to 16.2% despite lower sales in the quarter compared to the same quarter last year. Positive cash flow from operating activities of SEK 23.9 million in the quarter
FOURTH QUARTER
Net sales decreased 11.7% to SEK 282.1 (319.4) million.
Gross margin for the quarter was 85.6% (82.3%).
Operating result amounted to SEK 36.6 (38.9) million, corresponding to an operating margin of 13.0% (12.2%).
Adjusted EBITA was SEK 45.6 (48.9) million, corresponding to an adjusted EBITA margin of 16.2% (15.3%).
Result before tax was SEK 22.4 (23.5) million.
Cash flow from operating activities amounted to SEK 23.9 (37.2) million.
Earnings per share was SEK 0.05 (0.10) before dilution and SEK 0.05 (0.10) after dilution.
JANUARY-DECEMBER
Net sales decreased 21.4% to SEK 964.9 (1,227.2) million.
Gross margin for the period was 84.0% (82.2%).
Operating result amounted to SEK 52.8 (143.0) million, corresponding to an operating margin of 5.5% (11.7%).
Adjusted EBITA was SEK 101.9 (201.5) million, corresponding to an adjusted EBITA margin of 10.6% (16.4%).
Result before tax was SEK -14.6 (76.7) million.
Cash flow from operating activities amounted to SEK 25.0 (26.3) million.
Earnings per share was SEK -0.15 (0.40) before dilution and SEK -0.15 (0.38) after dilution.
For the full year 2022, the Board proposes no ordinary dividend.
WEBCAST A webcast - in English – will be held at 09.00 CET. Fredrik Palm, CEO, and Kristian Lustin, CFO, will present the Quarterly Report. If you wish to participate via webcast, please use the link https://ir.financialhearings.com/desenio-group-q4-2022. 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=5009997. 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.