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    YTRADE   SE0015504626

YTRADE GROUP AB (PUBL)

(YTRADE)
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Ytrade Group AB : (publ) appoints new CFO

06/22/2021 | 11:48am EDT

Ytrade Group AB (publ) ("Yaytrade" or "the Company") has announced that Robert Thorén's consulting assignment as CFO of Yaytrade will end on 23 June 2021. As of 27 September 2021, Mikael Wiborgh will take over as permanent CFO for the Company. During the transition period between the current and incoming permanent CFO, Fredrik Nilsson will take over as CFO on an interim basis.

Mikael most recently held the role of Regional E-Com Controller at H&M, where he was responsible for the UK and Nordic regions and focused on reporting, budgeting, and forecasting the digital income statement. He has previous experience with Besedo as Financial Controller where he was responsible for the reporting of monthly accounts, cash flow forecasting, and consolidation, as well as PwC as auditor.

"We are pleased to strengthen our team with both Fredrik Nilsson as interim CFO and Mikael Wiborgh as our future permanent CFO. Fredrik will lay the foundation for the work that Mikael will take on. Mikael has exciting and valuable experience from his previous employments and will strengthen our management with his broad qualifications in finance. This will aid the strategic step we intend to take in the future. I would also like to take this opportunity to thank Robert Thorén for his accomplished work.", says David Knape, CEO of Ytrade Group AB (publ).

"With my experience coming from managing positions within finance departments at companies such as Kuhne + Nagel, Scania, Schneider Electric, and Acando, I hope to be able to contribute to creating a stable platform for the company's continued expansion and growth," says Fredrik Nilsson, interim CFO, Ytrade Group AB (publ)

"Yaytrade is in an incredibly exciting phase. It has found a sweet spot in the market with its business model and scalability, where the digital shift is meeting an increasing awareness and demand for sustainable and circular premium fashion. To become a part of the team and be able to contribute towards creating conditions for and driving the continued expansion of Yaytrade's growth journey is something I am extremely inspired by and enthusiastic about.", says Mikael Wiborgh, Acting CFO of Ytrade Group AB (publ).

Mikael Wiborgh begins his work as CFO on the 27th of September 2021.

For further information, please contact:
David Knape, CEO Ytrade Group AB (publ)
E-post: david.knape@yaytrade.com
Phone: +46 70 999 90 09

This information has been published through the agency of the contact person above, at the time specified by Ytrade Group AB's (publ) news distributor Cision upon publication of this press release.

About Yaytrade
Ytrade Group AB (publ) is a Swedish fashion-tech company which operates the Yaytrade marketplace. The company was formed in Sweden and registered with The Swedish Companies Registration Office in 2015. The first version of Yaytrade's marketing platform was launched to the public at the end of 2017.

At Yaytrade, individuals can shop for premium fashion and lifestyle products directly from brands selling off their outgoing stock, samples, and returns via "digital pop-up shops". The company also sells premium second-hand from private individuals and influencers. Community users can create their own e-store and populate it with items from collected via Yaytrade pick-up service as well as post self-created ads. Yaytrade appeals to a chic urban demographic with a striking design which took home a silver medal Swedish Design Prize in 2020 in the e-commerce category. The company's market platform is a proprietary high-tech e-commerce platform where premium fashion meets the circular economy, contributing to more sustainable consumer behaviour which further drives environmentally sound fashion consumption.

The company's Certified Adviser is Eminova Fondkommission AB, phone: +46 (0)8-684 211 10, e-mail:  adviser@eminova.se

For more information, see Yaytrade's website www.yaytrade.com

https://news.cision.com/yaytrade/r/ytrade-group-ab--publ--appoints-new-cfo,c3372371

https://mb.cision.com/Main/15882/3372371/1435569.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 19,2 M 2,21 M 2,21 M
Net income 2021 - - -
Net cash 2021 6,60 M 0,76 M 0,76 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 53,5 M 6,16 M 6,16 M
EV / Sales 2021 2,44x
EV / Sales 2022 0,64x
Nbr of Employees -
Free-Float 57,3%
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Mean consensus BUY
Number of Analysts 0
Last Close Price 2,90 SEK
Average target price 5,00 SEK
Spread / Average Target 72,4%
Managers and Directors
Johan S÷derberg Chief Technology Officer
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