UK Boozt Interim Report Q2 2026
Double-digit growth and margin expansion
2026-08-14 08:00:00
Boozt AB's Half year report, January 1 - June 30 2026
- In Q2 2026, Boozt reported record spring/summer trading and returned to double-digit growth. Revenue grew by 13% in constant currency and the adjusted EBIT margin expanded to 6.5% (3.4%).
- Growth was strong in all months throughout the quarter, with all major categories and all major markets reporting solid constant currency growth. A key driver was the increased customer activity among women which drove growth acceleration both in women's fashion and across the non-fashion categories. Women's fashion is the largest category and grew almost 10% in Q2 after several quarters with a declining trend.
- Performance was driven by the new assortment strategy and focus on Boozt.com as the premium site. The assortment was wider and more inspirational with new brands joining across all categories. Commercial execution also improved across the business.
- AI is transforming the customer journey and shopping experience at the sites. Model images now cover a significantly larger share of the assortment, product descriptions are sharper, cross-selling suggestions are more relevant, and the virtual shopping assistant is helping customers find the right product faster.
- The growth in H1 was generated with a lower inventory level than last year throughout most of the first half. The planned inventory increase is on track, and the inventory level is currently higher than last year. A further ramp-up is planned during Q3 to drive the autumn/winter season trading and build on the strong growth momentum.
- Following SEK 171 million repurchased in Q2 2026 (SEK 268 million in H1), the Board has today given the mandate to expand the total buyback programme limit from SEK 200 million to SEK 300 million under the 2026 AGM authorisation.
Financial performance Q2 2026
- Net revenue in Q2 2026 grew 13% in constant currency (13% in SEK) to SEK 2,061 million (SEK 1,823 million in Q2 2025). Growth was driven by Boozt.com (+15% in constant currency), supported by a broader and more inspirational assortment. Revenue from Booztlet.com grew 3% in constant currency, against a challenging comparison with elevated clearance activity in Q2 2025.
- Gross margin improved to 40.1% (39.1%), reflecting relatively more sales from Boozt.com versus Booztlet.com and a reduction in promotional activity as part of the platform's strategic repositioning.
- Adjusted EBIT was SEK 133 million (62), resulting in an adjusted EBIT margin of 6.5% (3.4%), an increase of 3.1 percentage points year-on-year. The improvement was driven by the gross margin combined with increased marketing efficiency.
- Free cash flow amounted to SEK 39 million (186). The decrease compared to Q2 2025 is a result of higher inbound deliveries of products to capture the current growth momentum.
2026 Outlook
- On 29 June 2026, Boozt upgraded its full year financial outlook, raising revenue growth guidance to 7-11% in constant currency (previously 3-8%) and narrowing the adjusted EBIT margin guidance to 6.0-6.8% (previously 5.6-6.8%).
- Based on the performance since the announcement, the upgraded financial outlook is confirmed.
| SEK million unless otherwise indicated | Q2 2026 | Q2 2025 | Change | H1 2026 | H1 2025 | Change | Rolling 12 months |
| Net revenue | 2,061 | 1,823 | 13% | 3,723 | 3,475 | 7% | 8,535 |
| Constant currency growth | 13% | 0% | +12pp | 9% | 0% | +9pp | 6% |
| Gross margin | 40.1% | 39.1% | +1.0pp | 38.7% | 38.6% | +0.1pp | 37.5% |
| Adjusted fulfilment cost ratio | -10.4% | -10.5% | +0.1pp | -10.5% | -10.6% | +0.1pp | -9.9% |
| Adjusted marketing cost ratio | -9.3% | -11.5% | +2.2pp | -9.0% | -10.8% | +1.8pp | -9.2% |
| Adjusted admin and other cost ratio | -10.2% | -9.7% | -0.5pp | -10.5% | -10.2% | -0.3pp | -8.5% |
| Adjusted EBIT | 133 | 62 | 114% | 175 | 100 | 74% | 548 |
| Adjusted EBIT margin (%) | 6.5% | 3.4% | +3.1pp | 4.7% | 2.9% | +1.8pp | 6.4% |
| EBIT | 94 | 105 | -10% | 115 | 110 | 5% | 409 |
| EBIT margin (%) | 4.6% | 5.8% | -1.2pp | 3.1% | 3.2% | -0.1pp | 4.8% |
| Profit for the period | 70 | 76 | -8% | 80 | 80 | 0% | 301 |
| Free cash flow | 39 | 186 | -79% | -699 | -435 | -61% | 607 |
Telephone conference / audiocast
Boozt’s Group CEO, Hermann Haraldsson, and Group CFO, Michael Bjergby, will present the Q2 report at a telephone conference/audiocast at 09:30 CEST on Friday, 14 August, 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.