• In Q1 2026, Boozt generated 4% constant currency revenue growth and a small increase in the adjusted EBIT margin. Performance was driven by a strong March and encouraging start to the spring season.
• The revenue growth was delivered with materially lower inventory levels than last year. The stock turn improved in the quarter, driven by a product offering that is broader and more inspirational than last year. The inventory level is planned to increase to capture growth acceleration targeted for H2 2026.
• AI integration continues to advance across the organisation, embedding technology in core business functions to support better decision-making, more efficient workflows, cost savings and an improved customer experience.
• The strategic relocation to new headquarters in Copenhagen was completed in February with no disruption to operations. The final non-recurring costs related to the move were recognized in the quarter (SEK 10 million).
• SEK 415 million share buyback programme was completed in Q1 2026, bringing total capital returned to shareholders to SEK 800 million since the CMD in 2023. A new share buyback programme of SEK 200 million will be initiated.

Financial performance Q1 2026

• Net revenue in Q1 2026 grew 4% in constant currency ( 1% in SEK) to SEK 1,662 million (SEK 1,652 million in Q1 2025). Growth was driven by Boozt.com (+6% in constant currency), which benefited from a broader and more inspirational spring/summer offering, selling approximately 40% more style variations versus last year. Revenue from Booztlet.com declined 3% in constant currency, as last year's comparison was driven by clearance activity on the platform.
• Adjusted EBIT was SEK 42 million (38), resulting in an adjusted EBIT margin of 2.5% (2.3%), an increase of 0.2 percentage points despite an approximate 1 percentage point currency headwind. While reported gross margin declined mainly due to FX and the timing of Other revenue, the underlying gross margin development was slightly positive, supported by less discounting and higher growth from Boozt.com. The marketing ratio improved by 1.4 percentage points to 8.6%, reflecting a shift away from offline channels and improved efficiency.
• The inventory at the end of Q1 2026 was SEK 2,790 million (2,970) and at a lower level than last year throughout the quarter.
• Free cash flow was in line with expectations at SEK -738 million (-619) reflecting normal working capital seasonality. Share buybacks amounting to SEK 97 million were completed in Q1 2026.

2026 Outlook

• The outlook for revenue growth of 3–8% in constant currency is confirmed with the higher end of the range now considered more likely.
• Adjusted EBIT margin guidance is raised to 5.6–6.8% (from previously 5.3–6.5%), mainly reflecting favourable foreign exchange development.

Telephone conference / audiocast
Boozt’s Group CEO, Hermann Haraldsson, and Group CFO, Michael Bjergby, will present the Q1 report at a telephone conference/audiocast at 09:30 CEST on Friday, 24 April, 2026. 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.

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.