Interim report 1 January-30 June 2019

RECORD SALES, EBIT AND CASH GENERATION

Highlights

Second quarter

  • Net sales increased 20.5 percent to SEK 1,708.8 million (1,417.8). Organic growth amounted to 8.6 percent
  • Gross profit increased 36.4 percent to SEK 397.6 million (291.5), with a gross margin of 23.3 percent (20.6)
  • Adjusted EBIT, excluding IFRS 16 effects, increased 39.9 percent to SEK 100.4 million (71.7), and the adjusted EBIT margin increased to 5.9 percent (5.1)*. Adjusted EBIT, including IFRS 16 effects, amounted to SEK 102.3 million, corresponding to an EBIT margin of 6.0 percent
  • Operating income, excluding IFRS 16 effects, increased to SEK 90.1 million (55.0), corresponding to an operating margin of 5.3 percent (3.9)*. Operating income, including IFRS 16 effects, amounted to SEK 92.0 million, corresponding to an operating margin of 5.4 percent
  • Operating cash flow amounted to SEK 224.3 million (171.8), corresponding to a cash conversion of 201.1 percent
  • Net income, excluding IFRS 16 effects, amounted to SEK 44.6 million (32.1)*. Taking IFRS 16 into account, net income amounted to SEK 44.4 million
  • Earnings per share amounted to SEK 0.48 (0.30) before dilution and SEK 0.48 (0.30) after dilution

1 January-30 June 

  • Net sales increased 19.9 percent to SEK 2,928.9 million (2,442.9). Organic growth amounted to 8.3 percent
  • Gross profit increased 38.3 percent to SEK 698.1 million (504.6), with a record-high gross margin of 23.8 percent (20.7)
  • Adjusted EBIT, excluding IFRS 16 effects, increased 50.2 percent to SEK 153.8 million (102.4), and the adjusted EBIT margin increased to 5.3 percent (4.2)*. Adjusted EBIT, including IFRS 16 effects, amounted to SEK 157.5 million, corresponding to an EBIT margin of 5.4 percent
  • Operating income, excluding IFRS 16 effects, increased to SEK 126.5 million (25.8), corresponding to an operating margin of 4.3 percent (1.1)*. Operating income, including IFRS 16 effects, amounted to SEK 130.2 million, corresponding to an operating margin of 4.4 percent
  • Operating cash flow amounted to SEK 240.6 million (221.8), corresponding to a cash conversion of 138.5 percent
  • Net income, excluding IFRS 16 effects, amounted to SEK 64.0 million (-22.9)*. Taking IFRS 16 into account, net income amounted to SEK 63.3 million
  • Earnings per share amounted to SEK 0.65 (-0.87) before dilution and SEK 0.65 (-0.87) after dilution

Key events during and after the quarter

  • Acquisition of LampGallerian Växjö AB on 10 May, further strengthening the Group’s leading Nordic online position in home furnishings

* 2019 figures are reported excluding the effect of IFRS 16 to facilitate comparison with 2018 figures, as 2018 has not been restated for IFRS 16.
** Refer to “Relevant reconciliations of non-IFRS alternative performance measures (APM)” on page 29 of this report for a more detailed description.

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 7:00 a.m. CEST on 18 July 2019.

Contact information
For further information, visit www.bygghemmagroup.se or contact:

Martin Edblad, acting President and CEO
martin.edblad@bygghemmagroup.se
+46 (0)734-24 68 51

Adam Schatz, CFO
adam.schatz@bygghemmagroup.se
+46 (0)709-32 43 00

Johan Hähnel, Head of Investor Relations
johan.hahnel@bygghemmagroup.se
+46 (0)70-605 63 34

Conference call in connection with publication of the quarterly report
On Thursday, 18 July at 10:00 a.m. CEST, Martin Edblad, acting President and CEO, and Adam Schatz, CFO, will hold a conference call concerning the publication of the quarterly report. The call will be held in English. To participate, please call +46 (0)8 505 583 54 or go to the weblink https://tv.streamfabriken.com/bygghemma-group-q2-2019. The presentation is available from Bygghemma Group’s website: http://www.bygghemmagroup.com/investor-relations/presentations

About Bygghemma Group
Bygghemma Group is the leading online supplier of home improvement products in the Nordic region. We offer our customers a broad product range at attractive prices, with convenient home delivery. We conduct operations in two segments: DIY and Home Furnishing. DIY comprises sales of products from well-known brands for homes and gardens, and Home Furnishing comprises sales of furniture and home decor, mainly under proprietary brands. Bygghemma Group includes a wide range of webstores, such as www.bygghemma.se, www.trademax.sewww.chilli.se and www.furniturebox.se. Bygghemma Group had sales of SEK 5 billion in 2018, has its head office in Malmö and is listed on Nasdaq Stockholm Mid Cap.

Tags: