Growth in all channels in the first quarter
1 January–31 March 2022
- Net sales increased 29.8% to MSEK 615.3 (473.9). Excluding the acquisition of AV-Cables, sales growth totalled 13.4%, corresponding to MSEK 63.5
- Comparable growth amounted to 10.3% (8.9)
- Gross profit increased 21.5% to MSEK 261.7 (215.3) and the gross margin was 42.5% (45.4)
- Adjusted EBITA totalled MSEK 24.2 (25.8) and the adjusted EBITA margin was 3.9% (5.4). Currency effects had a negative impact of MSEK 4.9 on the comparison with last year.
- Operating profit amounted to MSEK 19.8 (22.8) and the operating margin to 3.2% (4.8)
- Net profit for the quarter amounted to MSEK 12.6 (4.5)
- Cash flow from operating activities totalled MSEK -129.7 (-100.1)
- Earnings per share before and after dilution amounted to SEK 0.40* (-0.64)
Significant events during and after the end of the quarter
- During the quarter, three new service points were established, two in Norway and one in Sweden.
- On 11 March, it was announced that the partnership with Circle K would be expanded to include Norway. As part of the start-up phase in Norway, the concept will be evaluated at six pilot stations.
- A new wave of COVID-19 infections in China has led to lockdowns in parts of the country. No significant impact has yet been noted in terms of product purchasing since products are purchased in other parts of the country where the pandemic is under better control.
- On 24 February, Russia invaded Ukraine. At present, this invasion has not had any direct impact on the Group’s operations since there are no direct business operations carried out in these countries.
“The growth of almost 30 percent in the first quarter shows that our omnichannel model with channel-independent customer interaction and a curated assortment of consumer electronics accessories has withstood these uncertain times”, says Andreas Rylander, CEO Kjell Group, and continues:
“Online sales increased and accounted for 33 percent of sales, while Click&Collect accounted for 8 percent. Our digital channels combined with 138 service points across the Nordics creates a seamless experience for consumers who wish to solve their technological needs.”
Telephone conference in connection with the publication of the interim report
Andreas Rylander, President and CEO, and Niklas Tyrén, CFO, will hold a telephone conference in connection with the publication of the interim report at 10:00 a.m. on 18 May 2022. To participate in the conference, call +46 8 5055 8350 or follow the link https://tv.streamfabriken.com/kjell-group-q1-2022. The presentation material is available on the Group’s website: https://www.kjellgroup.com/investerare/presentationer
The complete interim report for January–March 2022 and earlier reports are available on www.kjellgroup.com.