Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Nelly Group AB (publ)    NELLY   SE0003652163

NELLY GROUP AB (PUBL)

(NELLY)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Qliro : Interim report for January 1 – September 30, 20202020-10-21 - Regulatory press release

10/21/2020 | 02:10am EST
2020-10-21 08:00 - Regulatory press release

SPLIT-UP BEING FINALIZED

THIRD QUARTER

  • Net sales amounted to SEK 460.7 (540.8) million
    - CDON increased external merchant's sales by 100 percent. Net sales increased by 82 percent for CDON Marketplace (service income) and decreased by 42 percent for CDON Retail (sale of own goods).
    - Nelly's sales in the Nordics decreased by 3 percent but was stable in local currencies in the Nordic. In line with the Nordic focus, sales decreased outside the region.
  • Operating profit before depreciation and amortization improved to SEK 14.0 (-0.8) million
    - CDON's operating profit before depreciation and amortization increased to SEK 7.6 (3.6) million
    - Nelly's operating profit before depreciation and amortization amounted to SEK 1.8 (9.3) million, impacted by restructuring costs of SEK 5.4 million
  • Operating profit improved to SEK 0.2 (-13.9) million
  • Profit after tax improved to -1.9 (-13.9) million and to SEK 126.4 (-13.0) million including discontinued operations
  • Basic and diluted earnings per share including discontinued operations improved to SEK 0.83 (-0.09)
  • Qliro AB was distributed and listed on Nasdaq Stockholm on October 2 and CDON is scheduled to be distributed and listed on First North in November
  • On November 6, Qliro Group will change its name to Nelly Group and Kristina Lukes will become CEO

FIRST NINE MONTHS

  • Net sales amounted to SEK 1,535.8 (1,742.1) million
  • Operating profit before depreciation, amortization, and impairment was SEK -15.6 (-5.9) million
  • Operating profit totaled SEK -64.7 (-49.2) million
  • Profit after tax amounted to SEK -79.5 (-59.8) million and to SEK 3.3 (-56.9) million including discontinued operations
  • Earnings per share after tax including discontinued operations amounted to SEK 0.02 (-0.38)
  • Cash and cash equivalents amounted to SEK 222.0 (313.9) million at the end of the period
SEK million 2020
July-Sep
2019
July-Sep
2020
Jan-Sep
2019
Jan-Sep
Net sales 460.7 540.8 1,535.8 1,742.1
Gross profit 133.8 118.0 375.4 388.9
Gross margin 29.0% 21.8% 24.4% 22.3%
Operating profit before depreciation 14.0 -0.8 -15.6 -5.9
Operating margin before depreciation 3.0% -0.2% -1.0% -0.3%
Operating profit 0.2 -13.9 -64.7 -49.2
Operating margin 0.0% -2.6% -4.2% -2.8%

Qliro AB is recognized as a discontinued operation in this report. Operations are recognized including the effects of IFRS 16. Comparisons refer to the same period last year if nothing else is stated.

UNBUNDLING BEING FINALIZED

During the quarter, we took several steps toward the goal of unbundling the Group into three independent listed companies. Qliro AB is now listed on Nasdaq Stockholm and we intend to distribute CDON and list the company on First North in November. When that is done, the unbundling of Qliro Group will be completed. Qliro Group's sole business will be Nelly and on November 6, Qliro Group is changing its name to Nelly Group.

Our shareholders previously owned shares in a conglomerate with limited synergies but will instead hold shares in three focused listed companies.

Strong development for CDON in the quarter
CDON increased sales from external merchants by 100 percent for the third quarter and 102 percent for the first nine months. This was driven by quick digitalization of commerce and the successful positioning of the marketplace as a significant sales channel for e-merchants. CDON Marketplace is the company's core operation and this segment's net sales grew 82 percent. CDON Marketplace rapid growth meant that 80 percent of CDON's total gross profit was generated by service-related income from the 1,385 merchants who pay fees to be part of the marketplace.

CDON has a scalable business model with a strong cash flow. The company has exceeded expectations and is ready to continue growing outside Qliro Group. Provided that the extra general meeting on October 26 resolves to distribute CDON to Qliro Group's shareholders, the company is expected to be listed on First North in early November.

Focus on Nelly and name change to Nelly Group
Nelly's sales in the Nordics fell by 3 percent but was stable in local currency in the Nordics. Nelly increased its gross margin through higher efficiency, focus on the Nordics and lower return rates. The inventory turnover rate increased, which limited the need for working capital. The company continues to streamline its organization and is gathering its operations and logistics in Borås.

Qliro AB has been distributed and soon CDON will also be an independent listed company. I thank you for the privilege to lead the group during the split-up, and I look forward to continuing the work as a board member of Nelly Group with Kristina Lukes as its CEO.

Mathias Pedersen
President and CEO
Stockholm, October 21, 2020

Conference call
Analysts, investors, and the media are invited to a conference call today at 10 a.m. To participate in the conference call, please dial:
Sweden: 08 5033 6546
UK: +44 330 336 9401
US: +929 477 0630
The pin code to access this call is 709667
The presentation material and webcast will be published at www.qlirogroup.com.

For further information, please contact:
Niclas Lilja, Investor Relations
0736511363
ir@qlirogroup.com

Om Qliro Group
Qliro Group operations include fashion brand Nelly.com and the leading Nordic marketplace CDON. In late September, Qliro AB was distributed to Qliro Group's shareholders. The plan is to distribute CDON AB shares to Qliro Group's shareholders. Qliro Group will subsequently change its name to Nelly Group to reflect the new business. Qliro Group's shares are listed on the Nasdaq Stockholm Mid Cap segment under the ticker symbol QLRO.

This information is information that Qliro Group AB is required to disclose under the EU Market Abuse Regulation. The information was released for publication through the agency of the above-mentioned contacts at 8:00 a.m. on October 21, 2020.

Disclaimer

Qliro Group AB published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2020 06:09:04 UTC


© Publicnow 2020
All news about NELLY GROUP AB (PUBL)
11/30CATENA : and NELLY collaborate on automation
AQ
11/30NELLY : new warehouse gets a modern automation solution for fast and efficient d..
PU
11/30NELLY : new warehouse gets a modern automation solution for fast and efficient d..
AQ
11/23NELLY : Kaitlyn Bristowe wins 'Dancing with the Stars' Season 29
AQ
11/16NELLY : NOTICE TO ATTEND THE EXTRAORDINARY GENERAL MEETING2020-11-16 - Regulator..
PU
11/16NELLY : Notice to attend the extraordinary general meeting
AQ
11/06QLIRO : has changed its name to Nelly Group to reflect its current business
AQ
11/03NELLY GROUP AB (PUBL) : Spin off
FA
10/27QLIRO : CDON AB's shares will be admitted to trading on Nasdaq First North Growt..
PU
10/27QLIRO : CDON AB's shares will be admitted to trading on Nasdaq First North Growt..
AQ
More news
Financials
Sales 2019 2 939 M 348 M 348 M
Net income 2019 -110 M -13,0 M -13,0 M
Net Debt 2019 161 M 19,1 M 19,1 M
P/E ratio 2019 -9,49x
Yield 2019 -
Capitalization 611 M 72,3 M 72,3 M
EV / Sales 2018 0,43x
EV / Sales 2019 0,41x
Nbr of Employees 750
Free-Float 81,5%
Chart NELLY GROUP AB (PUBL)
Duration : Period :
Nelly Group AB (publ) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NELLY GROUP AB (PUBL)
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 3,40 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers
NameTitle
Kristina Lukes Chief Executive Officer
Marcus Lindqvist President
Carl-Johan Christoffer Häggblom Chairman
David Granath Chief Financial Officer
Daniel Konrad Mytnik Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
NELLY GROUP AB (PUBL)9.15%72
ALIBABA GROUP HOLDING LIMITED26.00%723 081
MEITUAN DIANPING183.22%219 065
PINDUODUO INC.286.99%179 485
SHOPIFY INC.165.08%128 515
MERCADOLIBRE, INC.172.82%77 521