Kjell Group AB (Publ) Interim report Q1, 1 January – 31 March 2023

Focus on adapting the customer offering and new initiatives

1 January – 31 March 2023

  • Net sales declined 6.0% to MSEK 578.2 (615.3)
  • Comparable growth amounted to -8.1% (10.3)
  • Gross profit declined 3.9% to MSEK 251.5 (261.7) while the gross margin improved to 43.5% (42.5)
  • Adjusted EBITA totalled MSEK 11.1 (24.1) and the adjusted EBITA margin was 1.9% (3.9)
  • Operating profit amounted to MSEK 6.5 (19.8) and the operating margin to 1.1% (3.2)
  • The company posted a net loss for the quarter of MSEK -7.5 (profit: 12.6)
  • Cash flow from operating activities totalled MSEK -19.8 (-129.7)
  • Earnings per share before and after dilution amounted to SEK -0.24 (0.41)

Significant events during and after the end of the quarter

  • A new service point was opened in Sweden during the first quarter.
  • Kjell & Company was ranked as Sweden’s most sustainable brand in the category “Home Appliances & Electronics – Stores” in the Sustainable Brand Index, Europe’s largest brand study with a focus on sustainability, for the second year in a row.
  • After the end of the quarter, Kjell & Company launched an initiative to offer recycling and resale of secondhand phones, tablets and computers in a partnership with ReuseIT, which is part of Elanders Group.

“In the first quarter of 2023, we saw more cautious and price-conscious consumers who in many cases deprioritised external brands with higher price points. On the other hand, our own brands with lower price points continued to grow during the quarter, which was beneficial for our gross margin”, says Andreas Rylander, CEO Kjell Group, and continues:

“During the start of the year, we invested in strengthening the customer offering and new initiatives that will enable us to adapt to more cautious consumers and new purchasing patterns.”

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 10 May 2023. To participate in the conference, follow the link: https://ir.financialhearings.com/kjell-group-q1-2023.
The presentation material is available on the Group’s website:

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

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