Boozt Ab · OMXSTO:BOOZT
Boozt Ab — Q4 2025 Earnings Presentation
21 slides from Boozt Ab's earnings presentation, Feb 6, 2026
Slide 1: Q4 2025
Q4 2025 6 February 2026 Boozt GROUP
Slide 2: Agenda
2 AGENDA Highlights Business review Q4 2025 financials Outlook
Slide 3: Positioned for growth acceleration
Positioned for growth acceleration ▪ 2025 was a transformational year with significant business achievements ▪ Leaner organizational structure implemented in Q1 ▪ Improved inventory significantly in both quality and quantity ▪ Sharpened the positioning of Boozt and Booztlet to focus on premium sales
Slide 4: Agenda
AGENDA Highlights Business review Q4 2025 financials Outlook
Slide 5: Entering the next growth phase
Entering the next growth phase Launch Expansion Covid’sation Deceleration Rejuvenation ▪ Price leadership ▪ Surge in online ▪ Decline in consumer ▪ AI driving the next penetration confidence wave of growth ▪ Online penetration ▪ Service & stalling convenience (after COVID) leadership 2011 2012-2020
Slide 6: Several engines of growth to rejuvenate sales in 2026
Several engines of growth to rejuvenate sales in 2026 ACCELERATE GROWTH Signs of improving Stronger AI Personalised Relaunch of market conditions assortment shopping Club Boozt - Fiscal support for - Better inventory quality - Improved customer - Targeted curation - Club Boozt 2.0 Nordic consumer -
Slide 7: Leveraging AI as a key driver of growth
Leveraging AI as a key driver of growth AI powered customer journey AI powered operation ▪ Personalized product AI powered service recommendations ▪ Optimized warehouse ▪ Handling of common operations and improved ▪ Image and video inspiration customer queries demand forecasting (35% of all inquirie
Slide 8: Department store metrics continue to improve
Department store metrics continue to improve - Customers buying from multiple categories spend more on average, return less and are more loyal 44% of revenue on Boozt.com is now generated from 54% of customers on Boozt.com buy from more products outside of Fashion (FY 2025) than one category (FY 202
Slide 9: The multi-category department store strategy is on track
The multi-category department store strategy is on track - Robust growth in all consumer groups buying more than one category Active customers shopping from 1 to 6 different product categories on Boozt.com 1,500,000 FY 2025 FY 2024 -3% 1,200,000 Active customers 900,000 +8% 600,000 +6% 300,000 +6% +
Slide 10: Agenda
AGENDA Highlights Business review Q4 2025 financials Outlook
Slide 11: 4% constant currency growth in Q4 2025
4% constant currency growth in Q4 2025 Revenue Q4 Q4 % % FY FY % % ▪ Boozt.com revenue increased 7% in development 2025 2024 (CER)* 2025 2024 (CER)* constant currency, while Booztlet declined Segments 6% Boozt.com 2,550 2,461 4% 7% 6,659 6,658 0% 2% ▪ Growth on both platforms impacted by Booztlet.co
Slide 12: Underlying profitability improvement driven by operational efficiency
Underlying profitability improvement driven by operational efficiency ▪ Adj. EBIT margin improves 0.9pp excluding FY impact Q4 Q4 change FY FY change Share of net revenue, % 2025 2024 2025 2024 of repayment of Norwegian customs in Q4 2024 Gross margin 36.1% 37.5% -1.4pp 37.4% 39.0% -1.6pp ▪ Gross ma
Slide 13: Free cash flow generation supported by working capital improvement
Free cash flow generation supported by working capital improvement Free cash flow 2025 1,200 149 16 1032 1,000 253 871 -144 -18 800 331 614 SEKm 600 -94 -27 404 400 200 0 13
Slide 14: Strong balance sheet and free cash flow
Strong balance sheet and free cash flow - New share buyback program to be initiated Cash generative Committed to returning excess cash to shareholders (cash returned through share buyback - SEKm) ▪ Strong free cash flow in Q4 and FY 2025 452 ~ 300 Returning excess capital to investors ▪ SEK 800m ret
Slide 15: Agenda
AGENDA Highlights Business review Q4 2025 financials Outlook
Slide 16: Significant SEK appreciation in December and January
Significant SEK appreciation in December and January - With current exchange rates, revenue growth in 2026 will be impacted by -2pp and EBIT margin by -0.6pp vs. 2025 Currency development (SEK) ▪ Revenue in 2025 was negatively impacted by the 101.0 EUR/SEK DKK/SEK NOK/SEK 99.0 strengthening of the S
Slide 17: Outlook 2026
Outlook 2026 - Continued margin improvement and accelerating growth throughout 2026 ▪ Revenue growth is expected to be 3-8% in constant Outlook 2026 FY 2025 currency Revenue growth 3-8% 3% ▪ Growth expected to gradually accelerate throughout (Constant currency) the year, supported by build-up of inv
Slide 18: Solid underlying cash flow generation dented by timing and one-offs
Solid underlying cash flow generation dented by timing and one-offs 5.3 – 6.5% Adj. EBIT margin Non-recurring cash factors in 2026 ~70% underlying cash conversion -50 SEKm -40 -140 Moderate free cash flow in 2026 Adjusted EBIT Normalized FCF One-off moving costs Compliance CAPEX Exit tax Inventory b
Slide 19: 2025 - Strengthening the foundation, 2026 - Playing offense
2025 - Strengthening 2026 – Playing offense the foundation Strategic relocation Top-tier talent access Inventory clean-up Inventory ramp-up Trimming organisation AI-powered shopping experience Re-positioning Club Boozt re-launch Boozt/Booztlet 19
Slide 20: Q&A
20 Q&A Boozt GROUP
Slide 21: Disclaimer
Disclaimer The Company’s financial targets set forth above constitute forward-looking information that is subject to considerable uncertainty. The financial targets are based upon a number of assumptions relating to, among others, the development of the Company’s industry, business, results of opera