Interim report for 1 January – 31 March 2015

Continued strong momentum at Nelly 

First Quarter

• Net sales, excluding divested operations, increased by 8%, amounting to SEK 1,196.5 (1,105.0) million. Including divested operations, net sales rose by 6%, amounting to SEK 1,196.5 (1,133.2) million
• Operating profit excluding divested operations and non-recurring items amounted to SEK -16.4 (-0.5) million. Including divested operations and non-recurring items, the operating profit amounted to SEK -34.3 (0.1) million
• Operating profit excluding divested operations, non-recurring items and Qliro Financial Services amounted to SEK -1.3 (-0.5) million
• Net income amounted to SEK -29.4 (-4.2) million
• Earnings per share amounted to SEK -0.20 (-0.03)
• Cash flow from operations amounted to SEK -219.9 (-167.7) million

CEO statement
Paul Fischbein, President and CEO comments: "Qliro Group´s sales momentum continues and all segments report solid growth in the first quarter. Even with significant investments in the business, the underlying operating result is in line with the first quarter 2014.

Nelly grew more than 15% and the trend in our domestic market, Sweden, remained solid with growth surpassing 20%. The share of private label sales climbed during the quarter and reached 37%.

Lekmer continues to demonstrate excellent growth and reports a 45% increase in sales. Tretti reported 15% growth and gross merchandise value from merchants at CDON Marketplace increased by 83%. At the same time, the number of affiliated external merchants now exceeds 500. Gymgrossisten reported growth of 7%.

Nelly’s operating income improved despite the negative impact of a stronger USD. Gymgrossisten is also affected by a stronger USD, but nonetheless reported an EBIT margin of almost 8%.

The development in Qliro Financial Services during the quarter was according to plan and we applied for a license to become a credit market company. Roll-out of the payment solution was progressing in Sweden with the affiliation of Gymgrossisten. The payment solution has also been introduced to external merchants. Qliro was also launched in Finland at the start of the second quarter and we look forward to the continued expansion of the payment solution, which is advancing through both external customers and new countries.

We continue to invest in our operations. Besides ongoing investments in the payment solution, Lekmer relocated its warehouse operations to Stockholm at the end of the quarter. CDON’s warehouse consolidation went ahead as planned and is expected to be completed during the third quarter of 2015.”

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For additional information, please visit www.qlirogroup.com or contact:

Paul Fischbein, President and Chief Executive Officer
Phone: +46 10 703 20 00

Investor and analyst enquiries:
Nicolas Adlercreutz, CFO
Phone: +46 70 587 44 88
E-mail: ir@qlirogroup.com

Press enquiries:
Fredrik Bengtsson, Head of Communications
Phone: +46 70 080 75 04
E-mail: press@qlirogroup.com

About Qliro Group
Qliro Group is a leading e-commerce group in the Nordic region. Established in 1999, the Group has expanded its product portfolio and is now a leading e-commerce player within consumer goods and lifestyle products through CDON.com, Lekmer, Nelly (Nelly.com, NLYman.com, Members.com), Gymgrossisten (Gymgrossisten.com/Gymsector.com, Bodystore.com, Milebreaker.com) and Tretti. The payment service solution Qliro is also part of the Group. In 2014, the Group generated earnings of SEK 5.0 billion.Qliro Group’s share is listed on the NASDAQ Stockholm MidCap list under the ticker symbol “QLRO”.

The information in this interim report is that which Qliro Group AB is required to disclose under the Securities Markets Act. This information was released for publication at 08.00 CET on 21 April 2015.

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