RevolutionRace grew by 95 percent in the first quarter, with increasing margins and passing SEK 1 billion in net sales rolling 12 months
“I am very glad and proud to be able to present another strong quarter for RevolutionRace. Net sales for the quarter increased by 95 percent to SEK 254.2 million and operating profit more than doubled to SEK 72.7 million (+124 percent). The EBIT margin of 28.0 (24.3) percent for the quarter was the result of favourable operational efficiency in marketing and sales, and of numerous improvements throughout RevolutionRace. This strong trend led to us passing SEK 1 billion in net sales during the quarter (rolling 12 months). We are particularly proud to have achieved this important milestone for the company”, says Pernilla Nyrensten, co-founder and CEO.
First quarter - July-September, 2021
- Net sales for the period increased by 95 percent to SEK 254.2 (130.5) million.
- Operating profit (EBIT) increased by 124 percent and amounted to SEK 72.7 (32.4) million, corresponding to an EBIT margin of 28.0 (24.3) percent. Adjusted operating profit (EBIT) amounted to SEK 72.7 (32.4) million, corresponding to an adjusted EBIT margin of 28.0 (24.3) percent.
- Average net order value (AOV) was SEK 793 (766). The increase is explained by a favourable market and product mix.
- Earnings per share before dilution amounted to SEK 0.50 (0.22) and after dilution SEK 0.50 (0.22).
Highlights during the quarter
- Net sales passed the SEK 1 billion mark (rolling 12 months).
- Very good development in all regions.
- In the turn of the month September/October a local webshop in Switzerland was launched.
- Secured flow of goods and inventory ramped up during the quarter enabling continuous profitable growth for the upcoming high season.
- Development beyond expectations at the logistics hub in Germany, with continued good progress after the end of the period.
“Our continued success is attributable to our very strong focus on customers. With 95% growth, we broke the SEK 1 billion mark on a rolling 12-month basis, while improving our EBIT for the quarter by 124 percent,” says Pernilla Nyrensten.
The report will be presented to investors, analysts and media in a webcast today at 10:00 CEST.
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This information is information that RVRC Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person above, on November 9, 2021 at 07:30 a.m. CEST.
RevolutionRace offers high quality functional clothing for people with an active lifestyle. The company was founded in 2013 by Pernilla Nyrensten, CEO and Niclas Nyrensten, Creative Director. Since its inception, the founders have had the goal of creating multifunctional clothing with great fit, in the highest quality and at reasonable prices under the tag line "Nature is our playground". By selling clothes online, directly to consumers without unnecessary intermediaries, RevolutionRace can offer products that have an unbeatable value in terms of price, quality and design. Together with its customers, the company has grown rapidly and is selling its products to more than 35 countries with net sales of SEK 897 million in the full year July 2020 – June 2021. Please visit corporate.revolutionrace.com.