Continued challenging market conditions
Second quarter 2022
- Net revenue was
SEK 121.2 (140.6) million representing a decrease of -13.8% (+13.2%). - Organic net revenue growth was -15.6%.
- Gross margin decreased to 60.1% (64.1%).
-
EBIT was
SEK 0.4 (24.8) million and EBIT margin was 0.4% (17.6%). -
Profit for the period was
SEK -0.1 (18.6) million. -
Earnings per share and per diluted share was
SEK -0.01 (0.89). -
The average NPS (
Net Promotor Score ) value was 68 (66).
January - June 2022
- Net revenue was
SEK 307.2 (345.2) million representing a decrease of -11.0% (+46.9%). - Organic net revenue growth was -14.0%.
- Gross margin decreased to 61.4% (64.6%).
-
EBIT was
SEK 22.0 (64.5) million and EBIT margin was 7.2% (18.7%). -
Profit for the period was
SEK 16.7 (50.8) million. -
Earnings per share and per diluted share was
SEK 0.80 (2.44). -
Net cash position was
SEK 81.8 (119.5) million. -
The average NPS (
Net Promotor Score ) value was 68 (66). - Inventory as a share of last-twelve-month (LTM) net revenue was 24.8% (17.2%).
Comments from Michael Lindskog, CEO
"The macroeconomic climate has further deteriorated during Q2 which has negatively affected the European households' confidence in the future and purchasing power.
"Our strong financial position enables continued focus on driving our long-term strategic agenda while we at the same time have implemented and prepared initiatives to ensure healthy profitability given the current conditions."
"I am convinced that we, by continuing to ensure high customer satisfaction, improve our customer proposition, develop our internal capabilities, maintain high cost efficiency, and effectively navigate the current market, will improve our possibilities for profitable growth both in the short- and long-term."
"If I summarize the first half of the year, it has been characterized by a changed macroeconomic climate which has drastically affected the market conditions. In this environment we report organic net revenue growth of -14.0% and an EBIT margin of 7.2% for the period."
"The macroeconomic outlook for the rest of the year remains uncertain and difficult to predict. This is a reality we need to accept and continue to navigate through."
Conference call in connection with the publication of the interim report
In connection with the publication of the interim report,
https://tv.streamfabriken.com/rugvista-group-q2-2022.
The interim report and the presentation are available at
The conference call can also be joined through the Group's website: https://www.rugvistagroup.com/en/investors/q222/.
Contact information
Michael.Lindskog@rugvista.se
InvestorRelations@rugvistagroup.com
This report includes information that
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About RugVista Group AB (publ)
The Group's operations are divided into three segments: Private consumers (B2C), Business consumers (B2B), and Marketplaces & Other (MPO). The B2C segment represents the consumer market and is the Group's core segment.
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