Growth of own brands and strong cash flow boost our confidence in the future
Fourth quarter
- Net sales declined 6.9% to MSEK 762.0 (818.8)
- Comparable growth amounted to -10.6% (5.8)
- Gross profit declined 6.5% to MSEK 310.2 (331.8) and the gross margin was 40.7% (40.5)
- Adjusted EBITA totalled MSEK 57.1 (87.9) and the adjusted EBITA margin was 7.5% (10.7)
- Operating profit amounted to MSEK 52.5 (85.9) and the operating margin to 6.9% (10.5)
- Net profit for the quarter amounted to MSEK 31.5 (66.2)
- Cash flow from operating activities totalled MSEK 213.0 (144.1)
- Earnings per share before and after dilution amounted to SEK 1.01 (2.13)
1 January–31 December (period)
- Net sales increased 8.8% to MSEK 2,607.9 (2,398.0)
- Comparable growth amounted to 0.7% (6.8)
- Gross profit increased 7.4% to MSEK 1,099.2 (1,023.3) and the gross margin was 42.1% (42.7)
- Adjusted EBITA totalled MSEK 134.8 (188.1) and the adjusted EBITA margin was 5.2% (7.8)
- Operating profit amounted to MSEK 117.2 (140.0) and the operating margin to 4.5% (5.8)
- Net profit for the period amounted to MSEK 71.2 (62.4)
- Cash flow from operating activities totalled MSEK 242.2 (152.3)
- Earnings per share before and after dilution amounted to SEK 2.29 (1.75*)
Significant events during and after the end of the quarter
- Two new service points were opened in Sweden during the quarter
- At the Retail Awards on 6th of October, arranged by the Swedish Trade Federation, Kjell & Company won the purchasing experience of the year award for 2022, as voted by consumers
- The partnership with SkiStar began as a pilot project where, starting in December, the company’s products are available via Kjell & Company Express for consumers at 14 SkiStar stores in Sweden and Norway
“During a year characterised by geopolitical and economic uncertainty, Kjell continued to grow profitably in 2022. In the fourth quarter, we noted greater caution among customers and saw a decline in sales during the Christmas shopping period. Nevertheless, we succeeded in maintaining our gross margin compared with the preceding year and received further confirmation of the strength of our own brands, which continued to grow. Our cash flow was also very strong in the quarter”, says Andreas Rylander, CEO Kjell Group.
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 16 February 2023. To participate in the conference, follow the link https://ir.financialhearings.com/kjell-group-q4-2022.
The presentation material is available on the Group’s website:
https://kjellgroup.azurewebsites.net/en/investors/financial-reports/.
Interim reports
The complete interim report for the period January–December 2022 and earlier reports are available on www.kjellgroup.com.