Onsdag 4 December | 00:27:34 Europe / Stockholm

Prenumeration

Kalender

Tid*
2026-02-20 08:00 Bokslutskommuniké 2025
2025-11-14 08:00 Kvartalsrapport 2025-Q3
2025-08-22 08:00 Kvartalsrapport 2025-Q2
2025-05-20 N/A Årsstämma
2025-05-15 08:00 Kvartalsrapport 2025-Q1
2025-02-21 08:00 Bokslutskommuniké 2024
2024-11-15 - Kvartalsrapport 2024-Q3
2024-08-23 - Kvartalsrapport 2024-Q2
2024-05-20 - X-dag ordinarie utdelning PIERCE 0.00 SEK
2024-05-17 - Årsstämma
2024-05-14 - Kvartalsrapport 2024-Q1
2024-02-20 - Bokslutskommuniké 2023
2023-11-17 - Kvartalsrapport 2023-Q3
2023-08-25 - Kvartalsrapport 2023-Q2
2023-05-17 - X-dag ordinarie utdelning PIERCE 0.00 SEK
2023-05-16 - Årsstämma
2023-05-12 - Kvartalsrapport 2023-Q1
2023-02-17 - Bokslutskommuniké 2022
2022-11-11 - Kvartalsrapport 2022-Q3
2022-08-24 - Kvartalsrapport 2022-Q2
2022-06-07 - X-dag ordinarie utdelning PIERCE 0.00 SEK
2022-06-03 - Årsstämma
2022-06-03 - Extra Bolagsstämma 2022
2022-05-10 - Kvartalsrapport 2022-Q1
2022-02-16 - Bokslutskommuniké 2021
2021-11-11 - Kvartalsrapport 2021-Q3
2021-07-27 - Kvartalsrapport 2021-Q2
2021-05-26 - Kvartalsrapport 2021-Q1

Beskrivning

LandSverige
ListaSmall Cap Stockholm
SektorHandel & varor
IndustriSällanköpsvaror
Pierce Group är verksamt inom e-handel. Bolaget är en onlineåterförsäljare av motorcykelutrustning via flertalet onlinebutiker. Produkterbjudandet inkluderar tillhörande reservdelar, tillbehör samt streetwear. Bolaget är primärt verksamma på den europeiska marknaden. Kunderna består främst av privata aktörer. Pierce Group grundades 2008 och har sitt huvudkontor i Stockholm.
2024-08-23 08:00:00

Continued improvement

April – June 2024

  • Net revenue increased by 3%, totalling SEK 456 (441) million.
  • Operating profit (EBIT) amounted to SEK 17 (2) million, corresponding to an operating margin of 3.6% (0.6%). Adjusted operating profit (EBIT) was SEK 17 (6) million, and the adjusted operating margin was 3.7% (1.5%).
  • Cash flow for the period was SEK 83 (64) million and the cash position at the end of the period was SEK 350 (179) million.
  • Earnings per share before and after dilution was SEK 0.17 (0.33).

January – June 2024

  • Net revenue increased by 3%, totalling SEK 812 (786) million.
  • Operating profit (EBIT) was SEK 24 (-19) million, corresponding to an operating margin of 2.9% (-2.4%). Adjusted operating profit (EBIT) totalled SEK 24 (-15) million, and the adjusted operating margin was 2.9% (-1.9%).
  • Cash flow for the period was SEK 140 (31) million.
  • Earnings per share before and after dilution was SEK 0.49 (0.18).

Apr-Jun
Jan-JunJul 2023-Jan-Dec
SEKm (unless stated otherwise)20242023
20242023Jun 20242023
Net revenue456441
8127861,5631,537
Growth (%)3%-2%
3%-10%-1%-8%
Growth in local currencies (%)2%-7%
2%-14%-5%-13%
Gross profit201186
364323648607
Profit after variable costs10488
186142300256
Overhead costs-69-67
-128-129-266-267
EBITDA3417
57912-36
Operating profit (EBIT)172
24-19-68-111
Adjusted EBITDA3521
581334-11
Adjusted operating profit (EBIT)176
24-15-30-69
Items affecting comparability0-4
0-4-38-42
Profit/loss for the period1426
3915-72-96








Gross margin (%)44.1%42.1%
44.8%41.1%41.4%39.5%
Profit after variable costs (%)22.7%20.0%
22.9%18.1%19.2%16.7%
Adjusted EBITDA (%)7.6%4.7%
7.1%1.7%2.1%-0.7%
Adjusted operating margin (EBIT) (%)3.7%1.5%
2.9%-1.9%-1.9%-4.5%








Cash flow for the period8364
1403120091
Net debt (+) / Net cash (-)-350-179
-350-179-350-222
Earnings per share before dilution (SEK)0.170.33
0.490.18-0.91-1.21
Earnings per share after dilution (SEK)0.170.33
0.490.18-0.91-1.21

Significant events during the reporting period
On 13 May 2024 the Board of Directors revised the medium to long-term financial targets regarding net revenue growth and the adjusted EBIT margin to reflect the prevailing market conditions in which Pierce operates. The capital structure target and the dividend policy remain unchanged.
On 17 May 2024 the Annual General Meeting approved each of the resolutions proposed by the board and/or nomination committee including:

  • to introduce a long-term incentive program (“LTI 2024”) in the form of a performance share program for the Company’s senior executives and key employees. A maximum number of 1,025,000 ordinary shares can be issued in this program.
  • to elect Kenneth Christensen and Niklas Jarl as new ordinary board members. Board member Mattias Feiff had declined re-election.
  • to elect Grant Thornton Sweden AB as new auditor.

Significant events after the end of the reporting period
No significant events took place after the end of the reporting period.

CEO comments

Our ongoing transformation efforts combined with a continued more positive consumer sentiment, especially in the beginning of the quarter, have led to an improvement in our earnings for the second quarter. Our adjusted EBIT amounted to SEK 17 million, up from SEK 6 million last year. Net revenue increased year-over-year to SEK 456 million from SEK 441 million, representing a growth of 3 percent. We also saw an increase in our gross margin, rising to 44.1 percent from 42.1 percent.
Our overhead costs amounted to SEK 69 million up from SEK 67 million last year. The costs were negatively impacted, primarily by the underlying inflation and weakening Swedish currency, but also by costs related to our tech stack modernisation. However, we managed to mitigate most of these negative effects with the savings from the operational efficiency program, undertaken in the fourth quarter of 2023, which delivered in line with expectations.
Cash and cash equivalents at the end of the quarter stood at SEK 350 million, compared to SEK 179 million last year. The improvement is mainly attributable to the inventory, which decreased by as much as SEK 152 million. However, we expect somewhat increased stock levels going forward in support of seasonal fluctuations, the need to ensure product availability and to capture future growth opportunities.
Our vision is to become the unquestionable leading e-tailer of the European market of gear, accessories, and parts for motorcycle riding. To realise this vision, which we call Pierce 2.0, we have identified seven strategic pillars that guide our efforts.

  • To achieve absolute leadership in the Offroad segment and profitable growth in the Onroad segment
  • To have the highest customer loyalty in the industry
  • To create a simple and powerful go-to-market approach
  • To be the best in the industry in pricing and purchasing
  • To have market-leading value-for-money own brands
  • A modern and scalable tech stack
  • A lean, fast and agile organisation

During the quarter we took significant steps to enhance our customer offering by expanding and optimising our product assortment, bringing more items, selections and choices to our customers. We also made substantial changes in our customer care approach and laid the groundwork for the launch of our first-ever loyalty program. Providing the best shopping experience is key to achieving our strategic pillar of having the highest customer loyalty in the industry.
Additionally, we have finalised the design and ordering of an important part of our 2025 own brand collection, which will be larger and more attractive than ever before. Developing a market-leading, value-for-money own brand offering is one of our strategic pillars and we will take an important step herein when we launch the new private label assortment in the season of 2025.
We are progressing fast in our work to build a composable, cloud-based technology stack, integrating best-in-class systems to enhance our operational capabilities. This will enable us to achieve our strategic objective of creating a simpler and more powerful go-to-market approach, and it will support the leaner, faster, and more agile organisation we established in the first quarter.
With the increasing geopolitical tensions in several parts of the world, an upcoming election in the US and general economic uncertainty as well as the volatile shipping markets, the outlook remains uncertain. We are however keeping full focus on our operations, taking active measures in relation to what we can control, and remain fully committed to our vision and strategic objectives.