Bifogade filer
EN BooztGroup_Interim Financial Report - Q4 2023
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Handel & varor |
| Industri | Detaljhandel |
Boozt AB's Q4 report, January 1 - December 31 2023
Fourth quarter financial highlights
- Net revenue of SEK 2,993 million (compared with SEK 2,438 million in Q4 2022) and net revenue growth of 23% or 20% in local currency
- Net revenue growth of 21% for Boozt.com and 33% for Booztlet.com
- Gross margin was 37.5% (38.3%)
- Adjusted EBIT was SEK 230 million (170) corresponding to an adjusted EBIT margin of 7.7% (7.0)
- Earnings per share before dilution was SEK 2.10 (1.83)
- Free cash flow was SEK 834 million (730)
- Repurchase of own shares of SEK 31 million (0)
- Cash and cash equivalents of SEK 1,463 million (1,777).
Full year financial highlights
- Net revenue of SEK 7,755 million (6,743) and net revenue growth of 15% or 11% in local currency
- Net revenue growth of 15% for Boozt.com and 15% for Booztlet.com
- Gross margin was 39.2% (39.5)
- Adjusted EBIT was SEK 400 million (286) corresponding to an adjusted EBIT margin of 5.2% (4.2)
- Earnings per share before dilution was SEK 3.43 (2.76)
- Free cash flow was SEK 6 million (90)
- Repurchase of own shares of SEK 89 million (0)
- Net revenue growth of 15% and adjusted EBIT of SEK 400 million compared with the latest guidance of 13-15% and SEK 370-390 million, respectively.
Outlook for 2024
- Boozt expects net revenue growth for 2024 to be in the range of 5-15%
- The adjusted EBIT margin for the year is expected to be in the range of 5.2-6.0%
- CAPEX is expected to be in the range of SEK 150-250 million.
Co-founder & CEO Hermann Haraldsson says: “2023 was another challenging year, but after a slightly disappointing first half of the year, we managed to change gear in the second half and reap the benefits of our Nordic department store. The acceleration in growth was among other things supported by a planned increase in our inventory to strengthen our product offering as well as our updated strategy for Booztlet expanding the assortment on the platform. Q4 continued the robust momentum we saw in Q3 and we actually improved growth on both Boozt and Booztlet. Our profitability benefitted from the increased topline and we recorded the highest quarterly adjusted EBIT margin to date in the quarter.”
| SEK million unless otherwise indicated | Oct 1 - Dec 31, 2023 | Oct 1 - Dec 31, 2022 | Change | Jan 1 - Dec 31, 2023 | Jan 1 - Dec 31, 2022 | Change |
| GROUP | ||||||
| Net revenue | 2,993 | 2,438 | 22.8% | 7,755 | 6,743 | 15.0% |
| Gross profit | 1,122 | 933 | 20.2% | 3,038 | 2,667 | 13.9% |
| EBIT | 183 | 158 | 16.0% | 299 | 253 | 18.3% |
| Adjusted EBIT | 230 | 170 | 35.2% | 400 | 286 | 40.1% |
| Earnings for the period | 143 | 123 | 16.2% | 233 | 186 | 25.4% |
| Free cash flow | 834 | 730 | 14.2% | 6 | 90 | -93.3% |
| Net revenue growth (%) | 22.8% | 23.9% | -1.1 pp | 15.0% | 16.0% | -1.0 pp |
| Gross margin (%) | 37.5% | 38.3% | -0.8 pp | 39.2% | 39.5% | -0.4 pp |
| EBIT margin (%) | 6.1% | 6.5% | -0.4 pp | 3.9% | 3.8% | 0.1 pp |
| Adjusted EBIT margin (%) | 7.7% | 7.0% | 0.7 pp | 5.2% | 4.2% | 0.9 pp |
| Outlook for 2024 | Outlook as of February 8, 2024 | Reported 2023 |
| Net revenue growth | 5-15% | 15% |
| Adjusted EBIT margin | 5.2-6.0% | 5.2% |
Telephone conference / audiocast
Boozt’s Group CEO, Hermann Haraldsson, and Group CFO, Sandra Gadd, will present the Q4 report at a telephone conference / audiocast at 09.30 CET Thursday, February 8, 2024. The presentation will be held in English and will be followed by a Q&A session.
If you wish to participate via webcast please use this link. Via the webcast you are able to ask written questions.
If you wish to participate via teleconference please register on this link. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
For presentation material, please visit Boozt’s website.