Bygghemma Group announces net sales over 1 billion SEK for Q1 2018, a total growth of approx. 50% and comments upon the market situation
Bygghemma Group First AB’s (”Bygghemma Group” or the ”Group”) net sales during the first quarter 2018 preliminary amounted to approx. 1,020 MSEK, which indicates a strong total growth of approx. 50%, compared to the first quarter 2017. Other listed companies within the same sector as Bygghemma Group have communicated a weaker sales than expected during the first quarter 2018, e.g. depending on an unusually cold and long winter. In order to prevent incorrect assumptions regarding Bygghemma Group’s financial development due to weather, the Company chooses to present certain preliminary financial information for the first quarter 2018 in advance as well as to briefly comment upon the market situation.
Bygghemma Group has received a number of questions from shareholders and stakeholders, e.g. on how the unusually cold and long wither may have affected the Company’s financial position during the first quarter 2018. Bygghemma Group’s net sales during the first quarter amounted to preliminary 1,020 MSEK (compared to 670 MSEK during the first quarter 2017). The total net sales growth is expected to amount to approx. 50% of which organic growth is expected to amount to approx. 14%, despite the unfavorable weather for the industry. The improvements are considered to be primarily driven by increased online penetration within both of the Company’s segments.
“We are very pleased that we for the first time have reached net sales amounting to more than one billion SEK during the first quarter with increased market share in both our segments, despite the unfavourable weather for the industry”, says Mikael Olander, President and CEO of Bygghemma Group.
Bygghemma Group’s interim report for the first quarter 2018 will be released on 27 April 2018.
For further information, please contact:
Mikael Olander, President and CEO of Bygghemma Group
Telephone: +46 708-19 43 00
John Womack, Head of Investor Relations
Telephone: +46 706-78 24 99
This information is information that Bygghemma Group First AB is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons above at 22:45 CET on 4 April 2018.
About Bygghemma Group
Bygghemma Group is the leading online-based provider of home improvement products in the Nordic region. We offer our customers a broad product assortment at competitive prices with convenient home delivery. Our operations comprise two segments, DIY and home furnishing, where DIY sells products from well-known external brands for home and garden improvement and home furnishing sells furniture and décor, primarily under own brands. Bygghemma Group consists of several online stores, including Bygghemma, Trademax, Chilli and Furniturebox. Bygghemma Group had revenue of approximately SEK 4.4 billion in 2017, is headquartered in Malmö and is listed on Nasdaq Stockholm, Mid Cap.