Sportamore updates the financial goals
The Board of Directors of Sportamore AB (publ) has decided on new financial goals for the Group. Sportamore intends to continue its efforts to increase brand awareness and to attract new customers in order to further enhance its position in the Nordic markets. The overarching focus on an annual basis will be to improve underlying profitability.
Sportmore's new financial goals listed below should not be seen as a forecast, but rather as an ambition that the Board of Directors and the management consider to be reasonable long-term expectations for Sportamore. The Board of Sportamore has established the following new financial goals:
The Group targets annual sales growth of 15-25%. Sales includes own retail sales and the full merchandise value of commission-based sales.
The Group shall have a positive and increasing EBIT-margin as a result of increased operational efficiency and economies of scale. For the Nordic market, the EBIT-margin shall be 5% by 2022. For operations outside the Nordic market an EBIT-margin of 5% shall be achieved in medium term after launch.
In connection with updating the financial goals, the Board of Directors adopts an updated dividend policy that states: When free cash flow exceeds attractive investments in profitable growth dividend shall be paid out.
This information is information that Sportamore AB (publ) is obligated to disclose pursuant to the EU Market Abuse Regulation. The information was submitted, through CEO Johan Ryding, for publication on 17 April 2019 at 08:00 CEST.
Fore more information, visit www.sportamore.se or contact:
Johan Ryding, CEO
Phone# 0705 56 22 26
Sportamore AB (publ) is the Nordic region's leading and fastest growing technology company that sells sport-related products online. In 2018, the Group had sales of SEK 947 million. In May 2015, Sportamore was listed on NASDAQ Stockholm, and has won prices for the Year's Online Store, E-Commerce of the Year, and won the award as the Customer Service of the Year. In 2018, Sportamore and Sportamore Outlet had over 54 million visitors. Sportamore sells over 30,000 products from around 300 different brands representing more than 30 different sports. Sportamore always has focused on an attractive customer offering through free shipping, free returns, 30-day purchase and price guarantee.
For more information please visit www.sportamore.se