Interim report: 1 January-30 September 2020

Report this content

Continued strong growth
 
- Clear economies of scale and increased margins
   
HIGHLIGHTS 

1 July - 30 September

  • Net sales increased 39.7% to SEK 2,290.3 million (1,639.0) Organic growth was 32.3%
  • Gross profit increased 57.0% to SEK 593.5 million (378.1), with a gross margin of 25.9% (23.1)
  • Adjusted EBIT amounted to SEK 194.0 million (82.5), corresponding to an adjusted EBIT margin of 8.5% (5.0)
  • Operating income amounted to SEK 183.2 million (72.2), corresponding to an operating margin of 8.0% (4.4) 
  • Cash flow from operating activities amounted to SEK 20.9 million (57.5)
  • Net profit for the period amounted to SEK 134.9 million (39.7), an increase of 239.5% on the prior year
  • Earnings per share amounted to SEK 1.24 (0.36) before dilution and SEK 1.22 (0.36) after dilution

 
1 January - 30 September 

  • Net sales increased 44.8% to SEK 6,613.6 million (4,567.8) Organic growth was 33.1%
  • Gross profit increased 57.0% to SEK 1,689.5 million (1,076.2), with a gross margin of 25.5% (23.6)
  • Adjusted EBIT amounted to SEK 506.7 million (240.0), corresponding to an adjusted EBIT margin of 7.7% (5.3)
  • Operating income amounted to SEK 474.4 million (202.4), corresponding to an operating margin of 7.2% (4.4) 
  • Cash flow from operating activities amounted to SEK 774.3 million (370.3) 
  • Net profit for the period amounted to SEK 328.4 million (115.8), an increase of 183.6% on the prior year
  • Earnings per share amounted to SEK 3.02 (1.06) before dilution and SEK 2.98 (1.06) after dilution
     

Key events during and after the period

  • Acquisition of Sleepo AB on 1 September, which strengthens the Group’s portfolio of external and proprietary brands in furniture and home furnishing

  • In accordance with a decision made at the Annual General Meeting, an incentive programme for senior executives, key individuals and employees was launched on 2 September, in which 1.0 million warrants, corresponding to a potential dilution effect of 0.9%, were subscribed for
 

This information is information that BHG Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 7:00 a.m. CET on 29 October 2020.

  
CONTACT INFORMATION
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 29 October in connection with the publication of the interim report. The call will be held in English. To participate, please call +46 (0)8 5055 8357 or visit https://tv.streamfabriken.com/bhg-q3-2020. 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-September 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 just under 1,000,000 unique products and encompassing a complete offering within DIY, leisure, furniture and home 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 1,900 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.

Tags: