Volati Board evaluating possible distribution and separate listing of Akademibokhandeln business area
The Board of Volati AB has asked management to evaluate a possible distribution of Volati’s shares in the Akademibokhandeln business area to Volati’s ordinary shareholders, and a separate listing of the Akademibokhandeln business area. The purpose is to provide Akademibokhandeln and Bokus with the best possible conditions to increase the growth rate for their digital channels. The digital channels accounted for 44 percent of sales in 2020 and sales growth for these channels compared with 2019 was 25 percent.
The Akademibokhandeln business area has shown positive development since Volati’s acquisition in 2017. At present, the business is characterised by good profitability and strong growth in the digital channels. Akademibokhandeln has a strong market position through successful digital channels such as the Akademibokhandeln.se and Bokus e-stores and the Bokus Play subscription service – and a nationwide network of profitable stores.
As a result of the investments in business development in recent years, Akademibokhandeln’s digital offering has developed at a rapid pace. The digital channels accounted for 44 percent of Akademibokhandeln’s sales in 2020, with the business area increasing its market share in e-stores during the year. The business area has a clear ambition to increase the growth rate for the digital channels through continuing investments. To provide the Akademibokhandeln business area with the best opportunities for future development, the Volati Board has decided to evaluate whether the business area is better placed to accelerate its growth-oriented work as an independent company.
“With two fantastic brands, 44 million online visitors annually, 13 million in-store visitors and 2 million members of the loyalty club, Akademibokhandeln and Bokus are uniquely positioned to increase the pace of the digital transition and drive growth over the next 3-5 years,” says Volati CEO Mårten Andersson.
The Volati Board has asked company management to evaluate and create conditions for an independent company based on the Akademibokhandeln business area, and a distribution of Volati’s shares in the company to Volati’s ordinary shareholders in accordance with the “Lex Asea” rules. The intention is that the new company’s shares will be listed separately. It is the Board’s intention to complete the evaluation during spring 2021 and come back to shareholders with more information prior to the Annual General Meeting on 28 April 2021. Any decision on the distribution of shares in Akademibokhandeln will be made by Volati’s General Meeting.
This information is information that Volati 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 persons set out below, on 19 February 2021 at 07.40 CET.
For further information, please contact:
Mårten Andersson, CEO Volati AB, +46 72 735 42 84, marten.andersson@volati.se
Andreas Stenbäck, CFO Volati AB, +46 70 889 09 60, andreas.stenback@volati.se
Volati AB (publ)
Engelbrektsplan 1, SE-114 34 Stockholm
Tel: +46 8 21 68 40
Email: info@volati.se
Corp.reg.no.: 556555-4317
About Volati
Volati is a Swedish industrial group, founded in 2003, consisting of the business areas Trading, Akademibokhandeln and Industry. Volati mainly acquires companies with proven business models, leading market positions and strong cash flows at reasonable valuations and develops them with a focus on long-term value creation. The strategy is to build on the companies’ identity and entrepreneurial spirit, adding leadership, expertise, processes and financial resources. Volati has operations in 16 countries, about 2,000 employees and annual sales of approximately SEK 6.5 billion. Volati’s ordinary shares and preference shares are listed on Nasdaq Stockholm. Further information is available at www.volati.se.