Bokusgruppen AB (publ) Interim Report January-June 2025

Q2 2025

• Net sales increased 16.4% to MSEK 407.8 (350.3)
• The gross margin increased to 46.8 (42.9)%
• EBITA improved to MSEK -8.8 (-23.4)
• The Group’s net loss amounted to MSEK -22.3 (-31.5)
• Earnings per share before dilution amounted to SEK -1.38 (-1.95)
   

January-June 2025
 

• Net sales increased 12.2% to MSEK 914.0 (814.7)
• The gross margin increased to 44.4 (41.2)%
• EBITA increased to MSEK 4.8 (-12.7)
• The Group’s net loss amounted to MSEK -26.1 (-35.0)
• Earnings per share before dilution amounted to SEK -1.61 (-2.17)

Comments from the CEO

We are pleased to present one of our strongest quarters to date, with highly positive sales and earnings trends. We are continuing to deliver a strong performance in a market that remains characterised by cautious, restrained consumption. Sales increased 16.4% from the previous year, of which 5.5% was organic growth. Gross profit grew 27.2% and EBITA improved by a full MSEK 14.6. Our efforts to focus on the customer, in both large and small ways, as well as to continuously optimise pricing and to maintain good cost control were essential for delivering another strong, stable quarter.

We took another step closer to our financial target this quarter with EBITA of 8.0%, up from 6.0% for full-year 2024 and from 6.6% for the second quarter LTM. The second quarter has historically been our weakest quarter, with our lowest sales and negative earnings. While we once again had negative EBITA of MSEK 8.8, the significant year-on-year improvement means that second-quarter profitability is now within reach.

The Akademibokhandeln segment continued its strong performance during the quarter and was up a full 14.2% year-on-year. In-store sales grew 14.5%, of which 8.1% was organic. Online growth was 10.1%. Our customers continue to demonstrate their appreciation for our offering quarter after quarter, proving that Akademibokhandeln is a relevant destination for inspiration as well as books and other enriching material to enjoy at home. Books as well as the “Skriva Spela Skapa” range displayed excellent growth.

Sales in the Bokus segment increased 20.7%, with the lion’s share of the increase coming from BTJ, which was acquired at the end of last year. Online sales to consumers through Bokus performed well, increasing 5.3% during the quarter. Sales of course literature continued to perform well, which is a welcome change from the downward trend of previous years. The growth in digital books continued, with an increase of 8.0% for the quarter – and even higher in Bokus Play. The summer campaign for Bokus Play started strong and we have high hopes for what it will bring as a whole.

Gross margins continue to improve in all channels
Gross margins continued to improve in all channels, leading to a total increase of 4.0 percentage points stemming from a variety of initiatives. One important factor in this was how we consistently optimised customer prices without losing volume. Our online channels also benefited from increased productivity and lower costs in our online shopping logistics. Bokus Play also contributed a strong margin thanks to new subscription forms that were launched during the quarter. A positive channel mix and our previous acquisition of BTJ also contributed to the increase.

Developing new online shopping systems
Our single largest project is the comprehensive overhaul of our online shopping experience, in which new modern solutions will enable a better customer experience, increased revenue and better cost efficiency. We completed a partial delivery during the first quarter, with the original goal of launching the first customer-facing website before the summer. Implementation has taken longer than expected, and our goal now is to launch the new site during the second half of 2025.

Reading remains popular in Sweden and more young people are finding our channels
The Media Barometer, a comprehensive survey of Swedish media habits carried out by Nordicom, reported a slight growth in reading for printed books. This is good news, for society as a whole and for us as booksellers. The survey also showed that younger people and pensioners read more than those of working age.

The growing interest in reading books among younger people is also clear from our customer base, where young people are overrepresented among new customers. During the quarter, we carried out several activities to promote reading among this target group, such as opening up applications for the Bokus scholarship and introducing a new award, BookToker of the Year, in order to celebrate digital creators who spread the joy of reading. For even younger readers, we held a large Read Aloud campaign together with other bookstores in Sweden and continued to spread our popular Läsborgarmärket. All of this to continuously promote reading and to ensure that we always have new book buyers.

Outlook
Unfortunately, the current global turmoil shows no signs of slowing. However, the direct impact on our daily business is limited, but as always we are keeping alert and following developments closely. At the time of writing, our future prospects look bright. Our operations have strong momentum and we can see that reading, not least among young adults, is growing. This is a social trend that we hope continues, for the sake of our book sales and for society as a whole. Reading is the foundation of a functioning democracy – and sharing this power feels more important than ever.

With summer holidays coming up, hopefully there will be time for reading, listening and creative pursuits. And as we at Bokusgruppen recharge our batteries ahead of the new school year in the autumn – an important time for books – I would like to take this opportunity to wish all of our customers, partners and employees a lovely summer full of books!

Maria Edsman, CEO

Further information

For more information, please contact Maria Edsman, CEO Bokusgruppen, on +46 76 888 26 10 or Cecilia Helsing, Marketing and Communications Manager Bokusgruppen, on +46 70-574 34 24.  

The Company is listed on Nasdaq First North Premier Growth Market. The Company’s Certified Adviser is Carnegie Investment Bank AB (publ).

Bokusgruppen AB (publ)
Corp.reg.no.: 559025-8637
Box 2100, 103 13 Stockholm
Lindhagensgatan 126, 5^th floor, 112 51 Stockholm
Tel: +46 10-744 10 00
Email: [email protected]