Boozt AB (publ) (BOOZT) Q1 2025 Earnings Call

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WEBVTT 00:00:00.436 -- 00:00:05.923 Thank you and good morning to all and welcome to the presentation of our Q1 results. 00:00:05.923 -- 00:00:08.884 Let's turn to the first slide. 00:00:08.947 -- 00:00:14.134 The operating environment remained challenging in the quarter with consumer 00:00:14.134 -- 00:00:19.801 confidence in the Nordics declining even further, most likely fueled by the increasingly 00:00:19.801 -- 00:00:23.185 uncertain geopolitical situation. 00:00:23.185 -- 00:00:28.192 In terms of top line, we increased revenue with 2% in the quarter or 3% in 00:00:28.192 -- 00:00:33.138 local currency. Growth was primarily driven by Boostlet.com, 00:00:33.138 -- 00:00:38.565 which saw a strong 18% increase. As we did during the second half 00:00:38.565 -- 00:00:43.752 of last year, we have used Boostlet.com to clear inventory in the quarter. 00:00:43.752 -- 00:00:48.218 Our price initiatives on Boostlet helped keeping our inventory fresh while contributing 00:00:48.218 -- 00:00:52.073 to building Boostlet's value brand franchise. 00:00:52.073 -- 00:00:57.363 Revenue from Boost.com declined slightly in the quarter by 1%, 00:00:57.363 -- 00:01:02.553 but remained flat in local currency. This, we believe, reflects both the 00:01:02.553 -- 00:01:08.324 current cautious consumer environment as well as the fact that we deliberately 00:01:08.324 -- 00:01:11.510 are less aggressive on pricing on Boost.com. 00:01:11.510 -- 00:01:16.418 While this impacts short-term sales, we do this to preserve 00:01:16.418 -- 00:01:21.507 Boost.com's more premium brand value, a strategy that is supported by Boostlet's 00:01:21.507 -- 00:01:25.170 ability to clear old inventory. 00:01:25.570 -- 00:01:30.661 Our customer base continued to expand in the quarter, reaching 3.8 million 00:01...