Slide 1: Q2 2024 - The Nordic Department Store
Q2 2024 16 August 2024 The Nordic Department Store Webcast Q1 2024 April 26, 2024
Slide 2: Q2 2024 - Highlights
Q2 2024 - Highlights – Revenue increased 11% despite a continued challenging market for Fashion and Lifestyle – Strong sell-through of the Spring/Summer collection – Significant inflow of new customers in the quarter (+280,000)* – Active customers increase with 11% year-on-year* – Still limited acce
Slide 3: Around 280,000 new customers bought on Boozt.com/Booztlet.com in the quarter
Around 280,000 new customers bought on Boozt.com/Booztlet.com in the quarter - Total active customers increase 11% in Q2 2024 (LTM) Total The Nordics +9% +7% 2,734,000 2,430,000 +16% +11% 876,000 710,000 Boozt.com Booztlet.com Boozt.com Booztlet.com Rest of Europe The Baltics +33% +32% 76,000 231,00
Slide 4: Solid growth across all categories
Solid growth across all categories - Newer categories gradually becoming destination categories by themselves 6% 7% 22% 25% 24% 22% Women Men Sports Kids Beauty Home Revenue growth per category (Q2 2024)
Slide 5: Financial highlights
Financial highlights Financial update Q2 2024 First quarter 2024
Slide 6: Q2 2024 - Financial highlights
Q2 2024 - Financial highlights SEK million Q2 2024 Q2 2023 Change H1 2024 H1 2023 Change Net revenue 1,873 1,687 +11% 3,487 3,212 9% Gross profit 784 713 +10% 1,411 1,299 9% Gross margin 41.9% 42.3% -0.4pp 40.5% 40.5% - Adj. EBIT 92 86 +7% 112 102 9% Adj. EBIT margin 4.9% 5.1% -0.2pp 3.2% 3.2% - Pro
Slide 7: Q2 2024 - Segments
Q2 2024 - Segments SEK million Q2 2024 Q2 2023 Change Boozt.com • The overall market for Fashion and Lifestyle in the Net revenue 1,525 1,381 +10% Nordics remains challenging Adj. EBIT 71 68 +5% • 200,000 new customers bought on Boozt in the quarter Adj. EBIT margin 4.7% 4.9% -0.2% • Core markets De
Slide 8: Q2 2024 - Cost ratios
Q2 2024 - Cost ratios Share of net revenue, % Q2 2024 Q2 2023 Change Gross margin 41.9% 42.3% -0.4pp Fulfilment cost ratio 11.4% 11.2% +0.2pp Marketing cost ratio 10.8% 11.1% -0.3pp Admin. and other 11.9% 12.3% -0.4pp costs ratio Depreciation ratio 3.6% 3.7% -0.1pp EBIT margin 4.2% 3.9% +0.3pp Adj.
Slide 9: Q2 2024 - Cash development
Q2 2024 – Cash development SEK million Q2 2024 Q2 2023 Change Net working capital 950 775 +22% NWC share of net 12.2% 11.1% +1.1pp revenue (LTM) Free cash flow 90 -5 N/A CAPEX -48 -29 +66% Net cash 297 430 -31%
Slide 10: Updated outlook 2024
Updated outlook 2024 • Revenue guidance narrowed to reflect trading Outlook 2024 New outlook Previous outlook environment and year-to-date performance • Solid development year-to-date Revenue growth 7-11% 5-15% • Market expected to remain challenging • Uncertainty on availability of campaign goods A
Slide 11: Ready when the tide turns...!
Ready when the tide turns…! Risk hedging through Tight cost multiple control categories Healthy Efficient inventory supply chain Cash rich Photo: Helly Hansen
Slide 12: Q&A
Q&A
Slide 13: 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