GOOD OPERATIONAL DEVELOPMENT IN THE QUARTER THE GOAL IS TO COMPLETE THE SPLIT-UP IN 2020
SECOND QUARTER
· Net sales amounted to
- Qliro AB increased the loan book by 29 percent and total operating income by 10 percent, adjusted for the previously announced non-recurring effect of
- CDON increased total marketplace sales by 44 percent and external merchant sales by 106 percent. Net sales increased by 89 percent for
- Nelly's sales were flat in the Nordics despite a very weak market, and decreased outside the Nordics, in line with our previously communicated focus on the Nordics
· Operating profit before depreciation and amortization amounted to
- Qliro AB's operating profit before depreciation and amortization of
- CDON's operating profit before depreciation and amortization amounted to
- Nelly's operating profit before depreciation and amortization of
· Operating profit amounted to
· Profit after tax amounted to
· Basic and diluted earnings per share amounted to
· As previously communicated, the goal is to finalize the unbundling of the group before the end of the year and the previous financial targets have been removed
FIRST HALF OF THE YEAR
· Net sales amounted to
· Operating profit before depreciation, amortization, and impairment was
· Operating profit amounted to
· Earnings after tax excluding discontinued operations amounted to
· Basic and diluted earnings per share excluding discontinued operations amounted to
· Cash and cash equivalents amounted to
SEK million 2020 2019 2020 2019
April-June April-June Jan-June Jan-June
Net sales 683.9 732.8 1,275.4 1,385.7
Gross profit 208.8 230.2 360.4 404.8
Gross margin 30.5% 31.4% 28.3% 29.2%
Operating profit before depreciation 7.5 31.5 -25.1 25.3
Operating margin before depreciation 1.1% 4.3% -2.0% 1.8%
Operating profit -42.9 1.0 -119.2 -32.5
Operating margin -6.3% 0.1% -9.3% -2.3%
In this report, operations are recognized including the effects of IFRS 16. Some revenue has been reclassified from interest income to commission income in
GOOD OPERATIONAL DEVELOPMENT IN THE QUARTER
Good operational development in the quarter
During the quarter,
CDON doubled sales from external merchants for the second quarter in a row. This was driven by a fast digitalization of retail and the successful positioning of the marketplace as a significant sales channel for other e-merchants.
CDON has a scalable business model with a strong cash flow. The company has exceeded expectations and is ready to continue its successful development outside
Nelly succeeded in maintaining its sales level in the Nordics despite a strong downturn in the total fashion market. Despite the drop in total income, Nelly successfully generated an operating profit by boosting efficiency, focusing on the Nordics, reducing marketing costs, and lowering return rates. The company was also able to greatly reduce its inventory, resulting in a strong cash flow.
Nelly has increased its market share and strengthened its position in a very weak market. The company is prepared to be an independent future
As previously communicated, the group is being unbundled and the previous financial targets for the subsidiaries have been removed. The main plan is, as before, to list
President and CEO
Conference call
Analysts, investors, and the media are invited to a conference call today at
US: +1 929 477 0338
The pin code to access this call is 419929.
The presentation material and webcast will be published at www.qlirogroup.com.
For further information, please contact:
Telephone: 0736511363
ir@qlirogroup.com
About
This information is information that
https://news.cision.com/qliro-group-ab--publ-/r/half-year-report-for-january-1---june-30--2020,c3154151
https://mb.cision.com/Main/53/3154151/1279248.pdf
(c) 2020 Cision. All rights reserved., source