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MQ performs strongly and Joy delivers according to plan

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MQ recognised strong earnings after non-recurring costs in conjunction with the exit from Norway. At the same time, Joy delivered earnings according to plan. The MQ Group is capturing market shares and the work to reposition the company to become a prominent omni-channel player in the Swedish market is continuing at a high pace. Excluding non-recurring costs, the Group delivered an operating profit of SEK 20 million (16) for the quarter.

Joy is included in the consolidated statements starting in May 2016.

Second quarter (December 2016–February 2017)

  •  Net sales amounted to SEK 496 million (433), up 14.6 percent. Like-for-like sales increased 0.5 percent (the market’s comparable stores declined -2.4 percent according to the Swedish Retail Institute Index).
  •  The gross margin was 51.0 percent (47.6).
  •  Operating profit was SEK 14 million (16), corresponding to an operating margin of 2.8 percent (3.6). Operating profit excluding non-recurring costs was SEK 20 million (16), corresponding to an operating margin of 3.9 percent (3.6).
  •  Profit after tax was SEK 10 million (12), corresponding to SEK 0.29 (0.34) per share after dilution.
  •  Cash flow from operating activities was SEK 71 million (45).

First six months (September 2016–February 2017)

  •  Net sales amounted to SEK 930 million (815), up 14.0 percent. Like-for-like sales declined -2.3 percent (according to the Swedish Retail Institute Index, the market’s comparable stores declined -2.2 percent).
  •  The gross margin was 56.6 percent (53.3).
  •  Operating profit was SEK 56 million (57), corresponding to an operating margin of 6.0 percent (7.0). Operating profit excluding non-recurring costs was SEK 61 million (57), corresponding to an operating margin of 6.5 percent (7.0).
  •  Profit after tax was SEK 42 million (44), corresponding to SEK 1.21 (1.25) per share after dilution.
  •  Cash flow from operating activities was SEK 61 million (46).

For more information, please contact:
Christina Ståhl, President and CEO: +46 (0)31-388 80 10
Tony Siberg, Deputy CEO and CFO: +46 (0)31-388 84 01




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 currently comprise a total of 175 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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