Bokusgruppen AB (publ) Interim Report January–March 2025

Q1 2025

• Net sales increased 9.0% to MSEK 506.3 (464.4)
• The gross margin increased to 42.5% (40.0)
• EBITA increased to MSEK 13.6 (10.7)
• The Group’s net loss amounted to MSEK -3.8 (-3.5
• Earnings per share before dilution amounted to
  SEK -0.23 (-0.22)

Significant events in the first quarter

• A milestone was reached at the end of the quarter with the first partial launch of a new online shopping system in the form of a new product information management (PIM) system.
   

Comments from the CEO

The year got off to a strong start with a year-on-year increase of 9.0% in sales, amounting to MSEK 506.3. The gross margin improved 2.5 percentage points due to a continued focus on margin improvements and our new acquisitions. This led to a full 15.8% growth in gross profit over the year-earlier period and a 26.3% increase in EBITA, which amounted to MSEK 13.6 for the quarter. We can therefore confirm that our positive momentum is continuing and that the first quarter of 2025 was another very strong quarter.

The Akademibokhandeln segment continued to perform well, with sales growth of 8.7%. The Bokus segment also improved with 9.5% due to the newly acquired BTJ. It is gratifying to see that the integration of our new additions has gone well, and the acquired companies are already contributing to increased sales and improved gross margins.

As usual, the annual national book sale was a popular event, drawing customers with attractive book deals in stores and online. This year’s sale was as strong as in 2024. We also noted high customer traffic in non-sale periods. With many students starting new courses during the period, we were pleased to note a continued increase in sales of course literature and hope that this marks a positive break in the trend. Bokus Play continued to perform well in terms of subscriptions, sales and earnings.

Stronger gross margins boost earnings

During the quarter, we saw a significant improvement in the gross margin as a result of diligent work with price optimisation, increased sales in stores and higher margins in BTJ’s operations. Positive currency effects also contributed somewhat during the quarter. These factors offset higher logistics costs compared with the previous year. However, logistics productivity is also improving. This is a positive trend in logistics costs, and one that we assume will continue going forward. 

Costs increased to a certain extent due to acquired operations, salary reviews and indexation, primarily in leases. However, thanks to good cost control, we are still operating at a somewhat lower level than expected. Our increased gross profit offset these higher costs and significantly boosted EBITA, which was a full 26.3% better than in the previous year.

New online shopping system to be rolled out in the spring as planned

Work to upgrade our online shopping systems continued, and a milestone was reached at the end of the quarter with the first partial launch of a new online shopping system in the form of a new product PIM system. This is an important part of reaching the next step in the launch of our new online shopping solution.

Customers continue to appreciate what we do

Customers continue to show signs that they appreciate us. Our Net Promoter Score (NPS), which measures customers’ willingness to recommend a company, increased from last year’s already high level. Bokus’s improved customer satisfaction was due in part to better and more stable customer logistics. The high level of customer satisfaction was also reflected in a lower number of customer service cases.

Vässa Pennan and turnkey libraries for schools

Numerous sustainability initiatives are ongoing across the organisation. Most of all, I’d like to highlight the Vässa Pennan (Sharpen Your Pencils) initiative to promote writing, including a short story contest for secondary school students that we hosted in collaboration with Novellix. We received over 2,200 short story entries, and the four winners will now see their work published in an attractive box set available for sale at Akademibokhandeln. Congratulations to the four incredibly talented short story writers!

When it comes to our presence in the world of education, it is also exciting to note that BTJ’s investment in turnkey school libraries is making it easier for schools to provide school libraries for all of their students. 

During the quarter, we also published our Annual and Sustainability Report. (In Swedish). A new addition this year was our comprehensive sustainability reporting, which is part of our efforts to comply with new EU directives.

Outlook

While it was gratifying to note that we continued to move in the right direction during the quarter, the world around us remains uncertain. The ongoing trade war has had a limited impact on our operations, but its effects on the economy could delay the long-awaited increase in customer demand.

Yet despite the dark clouds overhead, we are moving towards brighter times. Spring is here, bringing a time of celebrations and graduations – occasions when a book is the perfect gift. It also brings free time to spend in the company of a good book or together with friends and family playing a good board game.

Maria Edsman, CEO

Further information

For more information, please contact Maria Edsman, CEO Bokusgruppen, on +46 76 888 26 10 or Susanna Gyllenbåga, Press Contact, on [email protected]

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, Sweden
Lindhagensgatan 126, plan 5, 112 51 Stockholm, Sweden
Tel: +46 10-744 10 00
Email: [email protected]