The company reported a Net sales expansion, making this the third consecutive quarter with growth. The timing of the Easter holiday affected comparability, reducing net sales growth slightly, however this timing difference will contribute to a higher growth rate in net sales in Q2 compared to Q1. Order frequency continued to increase during the period compared to the previous year. Cheffelo remains focused on investing in improvements of the customer experience and successfully did so during the quarter while maintaining a stable Contribution margin.

CEO Walker Kinman commented: “The year is off to a good start, and this is an exciting time for our business. Our ambitions for profitable growth this year remain high, and we are on track to meet our long-term financial targets.”

First quarter 2024 (Q1 2023)

• Net sales increased by 0.3% to MSEK 288.7 (MSEK 287.8 same period last year).
• Growth in common currency of 2.1% (-17.4%)
• Operating profit (EBIT) at MSEK 10.0 (12.1), a margin of 3.5% (4.2%)
• Net profit for the period after taxes at MSEK 6.2 (7.1)
• Earnings per share, before and after dilution at SEK 0.49 (0.56)

Please see Cheffelo’s Q1 report attached and on https://cheffelo.com/financial-reports/
Cheffelo hosts a webcast for investors, analysts and media on May 7 at 09:00 CET. Details can be found here: https://cheffelo.com/press-releases/press/?slug=invitation-to-presentation-of-cheffelos-q1-2024-report