Bygghemma Group Q1 report 2018


First quarter

  • The Group’s net sales rose 53.1 percent to SEK 1,025.1 million (669.7), of which the Group’s organic growth accounted for 14.5 percent, driven by organic growth of 17.8 percent in the DIY segment
  • The Group’s adjusted gross profit* increased 63.9 percent to SEK 220.6 million (134.6), with an adjusted gross margin of 21.5 percent (20.1)
  • The Group’s adjusted EBITA** amounted to SEK 30.6 million (19.5), with an adjusted EBITA margin of 3.0 percent (2.9)
  • The Group’s operating income adjusted for items affecting comparability, primarily attributable to the Company’s IPO, amounted to SEK 21.4 million (12.8). Adjusted operating margin improved to 2.1 percent (1.9). The Group’s operating loss, including items affecting comparability of SEK 50.6 million (7.2), amounted to SEK -29.2 million (5.6)
  • The net income amounted to SEK -55.0 million (-3.5). The negative result was totally related to items affecting comparability for the period
  • Operating cash flow*** amounted to SEK 38.5 million (-10.3), corresponding to a cash conversion of 105 percent
  • Cash flow from operating activities totalled SEK -18.1 million (-26.6)
  • Earnings per share amounted to SEK -1.73 (-1.24) before dilution and SEK -1.73 (-1.24) after dilution

Key events during and after the period

  • Bygghemma Group was listed on Nasdaq Stockholm Mid Cap on 27 March
  • A new overall credit agreement was signed with SEB in conjunction with the listing
  • An extraordinary general meeting adopted a new, long-term incentive (“LTIP”) programme for some 60 key employees in the company

Presentation / Audiocast / Telephone conference

A telephone conference will be held 27 April 10.00 CET. CEO Mikael Olander and CFO Martin Edblad will present and comment on the report for the first quarter 2018. 

Details for the telephone conference; 

UK: +44 203 008 9808

SE: +46 850 336 562

US: +1 855 753 2237

The presentation can also be followed via webcast: 

This information is information that Bygghemma Group First AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 07.30 CET on 27 April 2018.

Contact information

For further information, visit or contact:

Mikael Olander, President and CEO,, +46 (0)708-19 43 00

Martin Edblad, CFO,,  +46 (0)734-24 68 51

John Womack, Head of Investor Relations,,  +46 (0)706-78 24 99

*Adjusted for items affecting comparability (refer to “Relevant reconciliations of non-IFRS alternative performance measures (APM) for a more detailed description). Items affecting comparability impacting the gross profit amounted to SEK 7.5 million (2.6), attributable to the Furniturebox integration. Items affecting comparability impacting EBITA totalled SEK 50.6 million (7.2) and were attributable to (i) acquisition costs of SEK 0.6 million (4.6), (ii) integration costs of SEK 7.9 million (2.6), pertaining to the integration of Furniturebox, (iii) costs of SEK 11.4 million (-) associated to  the long-term incentive programme for some 60 key employees in the Group launched in connection to the IPO and (iv) costs for the listing on Nasdaq Stockholm of 30.7 million (-).

**Adjusted EBITA is defined as operating income before depreciation and amortisation related to acquisitions and total items affecting comparability (described above).

***Operating cash flow: Adjusted EBITDA including changes in working capital less investments in other non-current assets in the period. Cash conversion in percent: Operating cash flow / adjusted EBITDA  (also refer to “Definitions” on page 27 in this report).