Strong growth in a turbulent market
1 April – 30 June
- Net sales increased 18.9% to MSEK 613.7 (516.2). Excluding the acquisition of AV-Cables, sales growth totalled 12.7%, corresponding to MSEK 60.1
- Comparable growth amounted to 10.2% (10.3)
- Gross profit increased 14.9% to MSEK 259.6 (225.9) and the gross margin was 42.3% (43.8)
- Adjusted EBITA totalled MSEK 12.8 (23.2) and the adjusted EBITA margin was 2.1% (4.5)
- Operating profit amounted to MSEK 8.5 (8.6) and the operating margin to 1.4% (1.7)
- Net profit for the quarter amounted to MSEK 1.3 (-9.6)
- Cash flow from operating activities totalled MSEK 75.5 (58.6).
- Earnings per share before and after dilution amounted to SEK 0.04* (-1.94)
1 January – 30 June
- Net sales increased 24.1% to MSEK 1,229.0 (990.2). Excluding the acquisition of AV-Cables, sales growth totalled 13.1%, corresponding to MSEK 123.5
- Comparable growth amounted to 10.3% (9.6)
- Gross profit increased 18.2% to MSEK 521.3 (441.2) and the gross margin was 42.4% (44.6)
- Adjusted EBITA totalled MSEK 36.9 (49.0) and the adjusted EBITA margin was 3.0% (5.0)
- Operating profit amounted to MSEK 28.2 (31.5) and the operating margin to 2.3% (3.2)
- Net profit for the period amounted to MSEK 13.9 (-5.1)
- Cash flow from operating activities totalled MSEK -54.1 (-41.5).
- Earnings per share before and after dilution amounted to SEK 0.45* (-2.58)
Significant events during and after the end of the quarter
- A new service point was opened in Trondheim during the quarter. After the end of the quarter, an additional service point was opened in Stavanger.
- The Annual General Meeting was held on 19 May.
“The first half of the year demonstrated the strength of our unique omni-channel model and market niche focused on accessories – a niche where, unlike the consumer electronics industry, consumption is largely needs-based. The most recent period once again proved that our curated assortment with relatively low price points and a high level of service is in demand, irrespective of the state of the economy”, says Andreas Rylander, CEO Kjell Group, and continues:
“We continue to grow profitably and in the second quarter, we took a conscious decision to continue investing in customer service, develop central functions and establish new service points to leverage growth opportunities.”
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 18 August 2022. To participate in the conference, follow the link https://tv.streamfabriken.com/kjell-group-q2-2022. The presentation material is available on the Group’s website:
The complete interim report for January–June 2022 and earlier reports are available on www.kjellgroup.com.