Interim report: 1 January-30 June 2020

Exceptional growth

– A record-breaking quarter for growth, profit and cash generation

highlights

1 April - 30 June

  • Net sales increased 57.7% to SEK 2,694.9 million (1,708.8). Organic growth was 41.8%
  • Gross profit increased 69.9% to SEK 675.5 million (397.6), with a gross margin of 25.1% (23.3)
  • Adjusted EBIT amounted to SEK 232.7 million (102.3), corresponding to an adjusted EBIT margin of 8.6% (6.0)
  • Operating income amounted to SEK 222.0 million (91.9), corresponding to an operating margin of 8.2% (5.4)
  • Cash flow from operating activities amounted to SEK 605.1 million (260.6)
  • Net profit for the period amounted to SEK 147.2 million (53.9), an increase of 173.2% on the prior year
  • Earnings per share amounted to SEK 1.34 (0.50) before dilution and SEK 1.33 (0.50) after dilution  

1 January-30 June

  • Net sales increased 47.6% to SEK 4,323.3 million (2,928.9). Organic growth was 33.6%
  • Gross profit increased 57.0% to SEK 1,096.0 million (698.1), with a gross margin of 25.4% (23.8)
  • Adjusted EBIT amounted to SEK 312.7 million (157.5), corresponding to an adjusted EBIT margin of 7.2% (5.4)
  • Operating income amounted to SEK 291.2 million (130.2), corresponding to an operating margin of 6.7% (4.4)
  • Cash flow from operating activities amounted to SEK 753.4 million (312.8)
  • Net profit for the period amounted to SEK 193.4 million (76.0), an increase of 154.4% on the prior year
  • Earnings per share amounted to SEK 1.78 (0.69) before dilution and SEK 1.77 (0.69) after dilution

Key events during and after the period

  • As part of the new corporate identity under the BHG brand, Bygghemma Group First AB changed its name to BHG Group AB on 29 May. The new brand is part of an updated identity for the website, social media and other external and internal communication for the Group.
     

This information is information that BHG Group AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 7:00 a.m. CEST on 23 July 2020.
   

For further information, visit www.wearebhg.com or contact:

Adam Schatz, President and CEO
adam.schatz@bhggroup.se
+46 (0) 709-32 43 00

Jesper Flemme, Acting CFO
jesper.flemme@bhggroup.se

+46 (0) 720-80 25 69

Johan Hähnel, Head of Investor Relations
johan.hahnel@bhggroup.se

+46 (0) 70-605 63 34

CONFERENCE CALL IN CONNECTION WITH PUBLICATION OF THE QUARTERLY REPORT
Adam Schatz, President and CEO, and Jesper Flemme, acting CFO, will hold a conference call at 10:00 a.m. on Thursday 23 July in connection with the publication of the interim report. The call will be held in English. To participate, please call +46 (0) 8 566 427 04 or visit https://tv.streamfabriken.com/bhg-q2-2020. The presentation is available from the Group’s website: https://www.wearebhg.com/investors/presentations/

Quarterly reports on WWW.wearebhg.com
The full report for the period January-June 2020 and previous quarterly and year-end reports are available at https://www.wearebhg.com/investors/financial-reports/
 

ABOUT THE GROUP
BHG is the number 1 consumer e-commerce company in the Nordics. We’re also present in most of Eastern and Central Europe. Our strong position in these markets makes us the largest European pure-play within the Home Improvement space, meaning Do-It-Yourself and Home Furnishings. With an ecosystem of online stores, supported by physical destinations and services, such as last-mile deliveries and installations, we offer the market’s leading range of well-known external and strong own brands, totalling over 800,000 unique products and encompassing a complete offering within DIY, leisure, furniture and furnishings.

The Group includes over 85 online destinations – including sites like www.bygghemma.se, www.trademax.se, www.chilli.se and www.furniturebox.se – and over 70 showrooms. We are headquartered in Malmö, Sweden, with operations throughout Europe. Our share is traded on Nasdaq Stockholm, under the ticker BHG.

The BHG brands employ more than 1,500 people, working every day to create the ultimate online shopping experience by combining an unbeatable product range with smart technology, leading product expertise and a broad range of services.

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