Kjell Group AB (Publ) – Interim report Q2, 1 January – 30 June 2023

Continued investments to take advantage of market conditions

Second quarter

  • Net sales declined 7.4% to MSEK 568.5 (613.7)
  • Comparable growth amounted to -9.0% (10.2)
  • Gross profit declined 6.0% to MSEK 244.0 (260.0) while the gross margin improved to 42.9% (42.3)
  • Adjusted EBITA totalled MSEK -2.3 (12.8) and the adjusted EBITA margin was -0.4% (2.1)
  • The company posted an operating loss of MSEK -7.0 (profit: 8.5) and the operating margin was -1.2% (1.4)
  • The net loss for the quarter amounted to MSEK -17.9 (profit: 1.3)
  • Cash flow from operating activities totalled MSEK -9.1 (75.5)
  • Earnings per share before and after dilution amounted to SEK -0.57 (0.04)

1 January–30 June (the period)

  • Net sales declined 6.7% to MSEK 1,146.7 (1,229.0)
  • Comparable growth amounted to -8.6% (10.3)
  • Gross profit declined 5.0% to MSEK 495.4 (521.3) while the gross margin improved to 43.2% (42.4)
  • Adjusted EBITA totalled MSEK 8.8 (36.9) and the adjusted EBITA margin was 0.8% (3.0)
  • The company posted an operating loss of MSEK -0.6 (profit: 28.2) and the operating margin was 0.0% (2.3)
  • The net loss for the period amounted to MSEK -25.4 (profit 13.9)
  • Cash flow from operating activities totalled MSEK -28.8 (-54.1)
  • Earnings per share before and after dilution amounted to SEK -0.81 (0.45)

Significant events during and after the end of the quarter

  • In May, Kjell & Company launched an initiative to offer recycling and resale of secondhand phones, tablets and computers in partnership with ReuseIT, which is part of Elanders Group
  • In June, AV-Cables introduced its assortment and brand to the Swedish market through the launch of its Swedish website

“Despite a challenging market in the short term, the need for digitalisation and technology in society will continue to grow in the future. In this future, Kjell aims to be the preferred destination for individuals, families or companies who want to maximise their technological possibilities. That is why we are continuing to invest in our offering as well as our organisation and brand – to make it clear to consumers why they should choose us”, says Andreas Rylander CEO Kjell Group.

Webcast in connection with the publication of the interim report
Andreas Rylander, President and CEO, and Niklas Tyrén, CFO, will hold a webcast in connection with the publication of the interim report at 10:00 a.m. on 1 August 2023. To participate in the conference, follow the link https://ir.financialhearings.com/kjell-group-q2-2023. The presentation material is available on the Group’s website:
https://kjellgroup.azurewebsites.net/investerare/finansiella-rapporter/.

Interim reports
The complete interim report for January–June 2023 and earlier reports are available on www.kjellgroup.com.

Contacts Kjell Group

Andreas Rylander, CEO +46 (0)73 5181 001, andreas.rylander@kjell.com 
Niklas Tyrén, CFO +46 (0)70 2690 279, niklas.tyren@kjell.com
Per Frykebrant, IR, +46 (0)72 4655 136, per.frykebrant@kjell.com

Certified adviser

FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at info@fnca.se.

This information is information that Kjell Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-08-01 07:00 CEST.

About Us

Kjell Group offers the market's most complete product range in electronic accessories, including consulting and installation. The business is conducted online in Sweden, Norway and Denmark and via 145 service points, of which 115 in Sweden and 30 in Norway.

Through Kjell & Company's customer club, with over 3.1 million members and wholly owned Av-Cables, the company has a unique understanding of people's technology needs, and the Group's approximately 1,200 employees work every day to improve people's lives through technology.

Attachments

Kjell Group Interim Report Q2 2023

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