MQ Holding AB – Interim report

Third quarter (March 2013-May 2013)

  • Net sales amounted to SEK 354 million (347), up 2.0 percent. Sales in comparable stores fell 2.5 percent (The Swedish Retail Institute Index was down 0.3 percent).
  • The gross margin was 60.2 percent (61.6).
  • Operating profit amounted to SEK 21 million (25), corresponding to an operating margin of 5.9 percent (7.2).
  • Profit after tax amounted to SEK 12 million (15), corresponding to SEK 0.35 (0.44) per share after dilution.
  • Cash flow from operating activities totalled SEK 43 million (37).

Nine-month period (September 2012-May 2013)

  • Net sales amounted to SEK 1,114 million (1,148), down 3.0 percent. Sales in comparable stores fell 5.9 percent (The Swedish Retail Institute Index was down 0.9 percent).
  • The gross margin was 56.5 percent (57.1).
  • Operating profit totalled SEK 46 million (77), corresponding to an operating margin of 4.1 percent (6.7).
  • Profit after tax amounted to SEK 26 million (49), corresponding to SEK 0.75 (1.40) per share after dilution.
  • Cash flow from operating activities totalled SEK 72 million (84).

Events during the third quarter

  • Three new stores in Stockholm Globen, Stockholm Hornstull and in Oskarshamn
  • Partnership agreements with six new brands were signed during the period.

Events after the end of the reporting period

  • Christina Ståhl has been appointed the new CEO of the company and will assume the position in the autumn. In connection with Mats Gärdsell leaving his assignment at MQ today, Tony Siberg, Deputy CEO and CFO, will take over as Acting CEO until the new CEO assumes her position. Christina Ståhl will vacate her seat on the Board of Directors of the company in connection with assuming the position of CEO.
  • Thérèse Elmquist assumed the position as new sales manager in early June
  • New bank agreement signed, resulting in greater financial manoeuvrability

For further information, please contact:

Tony Siberg, Acting CEO: +46 (0)31-38 88 401

MQ is one of Sweden’s leading brand chains. Through a mix of proprietary and external brands, MQ offers men’s and women’s clothing with a high degree of fashion in attractive stores. The store chain currently includes 122 stores and the aim is to establish MQ as the leading brand chain in the Nordic region. The MQ share has been listed on NASDAQ OMX Stockholm since 18 June 2010. For more information, please visit: www.MQ.se

About Us

MQ Holding AB owns and operates fashion stores under two business areas: MQ and JOY. MQ is Sweden’s largest retailer of fashion brands today. Through a select mix of proprietary and external brands, MQ offers high-fashion menswear and womenswear in attractive stores. JOY targets fashion-conscious women at midlife who desire excellent quality, fit and comfort. The two business areas comprise of stores as well as online shopping. The MQ Holding share has been listed on Nasdaq Stockholm since 18 June 2010. For more information, see www.mq.se

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