Bokusgruppen AB (publ) Interim Report January-June 2021
Quarter April-June 2021
· Net sales rose 12% to MSEK 334.4 (298.5)
· EBITA improved to MSEK -16.7 (-22.7)
· EBITA LTM was MSEK 87.2 (87.3)
· The company reported a loss after tax of MSEK -25.8 (-32.1)
· Earnings per share amounted to MSEK -1.9 (-4.0)
Period January-June 2021
· Net sales rose 7% to MSEK 796.3 (742.5)
· EBITA improved to MSEK -19.0 (-21.9)
· The company reported a loss after tax of MSEK -41.0 (-45.4)
· Earnings per share amounted to MSEK -3.8 (-5.7)
· Bokusgruppen was listed on Nasdaq First North Premier Growth Market on 4 June
· Stores recovered and reported positive sales growth of 13%
· Online channels continued to report strong growth of 11%
· Akademibokhandeln’s range of other products was launched online
Comments from the CEO
High growth and improved earnings in second quarter
Total sales growth for the quarter amounted to 12% and EBITA increased 27% compared with the same quarter last year. Sales in stores increased 13%. During the quarter, Akademibokhandeln noted a growing number of in-store visits and successfully launched its range of other products online. Growth in online channels remained high and sales increased 11%.
Bokusgruppen was listed on Nasdaq First North Premier Growth Market on 4 June of this year. We now have the best possible prerequisites to further accelerate the rate of growth in our online channels and strengthen our position in the market.
The second quarter displayed a positive total sales trend of 12% and continued growth of 11% in our online channels compared with the year-earlier period. The stores recovered during the quarter and reported a 13% increase in sales. It is highly gratifying that customers appreciated their visits to our stores despite the many store restrictions that remained in place during the quarter. The in-store sales growth had a positive impact on the gross margin, which rose 1.3 percentage points.
EBITA improved by 27%, despite the fact that we reported significantly lower pandemic-related government grants for 2021. The second quarter is normally characterised by negative earnings due to the seasonal variations affecting Bokusgruppen’s sales.
The change in cash flow was due to usual seasonal variations and changes in the financing structure in connection with the listing. The deviation compared with the year-earlier period was mainly due to the pandemic-related government grants received last year.
During the quarter, we also continued to invest in and focus on our future digital development by expanding the functionality of Bokus Play, improving Akademibokhandeln’s omnichannel offering and providing more delivery options for Bokus.
A milestone was reached in the quarter when Akademibokhandeln’s range of other products, including board games, jigsaw puzzles and stationery, was launched online. Following a positive reception from our customers, we will now accelerate our efforts in this area in the quarters ahead.
In summary, I am pleased with our results for the quarter. We had stronger sales, more customers in our stores and positive online growth. In other words, Bokusgruppen’s total offering of channels, formats and product ranges is very strong. Looking ahead, continuing uncertainty remains regarding the impact of new virus variants on society, but I am confident about the remainder of the year provided restrictions continue to be lifted according to official plans.
It is gratifying that Bokusgruppen can now publish its first interim report as a listed company. With a stable foundation, strong brands and popular customer offerings, we are well equipped to deliver on our strategic plan for creating value for our shareholders. A new chapter has begun!
Maria Edsman, CEO
Appendix: Bokusgruppen AB (publ) Interim Report January-June 2021
The report was originally published in Swedish 16 June 2021 at 07:45 CEST.
For more information, please contact Maria Edsman, CEO Bokusgruppen, on +46 76 888 26 10 or Alexandra Fröding, Press Contact, on +46 70 775 27 83.
This information is information that Bokusgruppen AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact persons set out above, at 15:00 CEST on 19 July 2021.
Bokusgruppen AB (publ)
Box 2100, 103 13 Stockholm, Sweden
Lindhagensgatan 74, plan 8, 112 18 Stockholm, Sweden
Tel: +46 10-744 10 00