Positive earnings and growth for second quarter of the year
Second quarter
- Net sales increased 4.5% to MSEK 594.4 (568.5)
- Comparable growth amounted to 3.7% (-9.0)
- Gross profit declined 0.7% to MSEK 242.2 (243.9) and the gross margin decreased to 40.8% (42.9)
- Adjusted EBITA totalled MSEK 0.3 (-2.3) and the adjusted EBITA margin was 0.1% (-0.4)
- The company’s operating loss amounted to MSEK -8.7 (-7.0) and the operating margin to -1.5% (-1.2)
- The net loss for the quarter was MSEK -18.4 (-17.9)
- Cash flow from operating activities totalled MSEK 13.0 (-9.1)
- Earnings per share before and after dilution amounted to SEK -0.59 (-0.57)
1 January–30 June (the period)
- Net sales increased 3.4% to MSEK 1,185.8 (1,146.7).
- Comparable growth amounted to 3.1% (-8.6)
- Gross profit declined 1.1% to MSEK 490.0 (495.4) and the gross margin decreased to 41.3% (43.2)
- Adjusted EBITA totalled MSEK -5.3 (8.8) and the adjusted EBITA margin was -0.4% (0.8)
- The company’s operating loss amounted to MSEK -21.3 (-0.6) and the operating margin to -1.8% (0.0)
- The net loss for the period amounted to MSEK -40.1 (-25.4)
- Cash flow from operating activities totalled MSEK 8.1 (-28.8)
- Earnings per share before and after dilution amounted to SEK -1.29 (-0.81)
Significant events during and after the end of the quarter
- Thomas Pehrsson took up his position as CFO on 15 April, replacing Anders Hofvander who had served as interim CFO following the departure of the Group’s former CFO.
- During the quarter, two new service points were established, one in Sweden and one in Norway.
- During the quarter, Kjell & Company began a collaboration with the electronic repair company Mentech to offer flexible electronic repairs for private individuals and companies at all service points.
“We are pleased to present positive earnings for the Group and increased sales for all segments during the second quarter of the year. This performance is particularly impressive in what is historically the toughest quarter of the year”, says Andreas Rylander, CEO Kjell Group.
Webcast in connection with the publication of the interim report
Andreas Rylander, President and CEO, and Thomas Pehrsson, CFO, will hold a webcast in connection with the publication of the interim report at 10:00 a.m. on 24 July 2024. To participate in the conference, follow the link https://ir.financialhearings.com/kjell-group-q2-report-2024. The presentation material is available on the Group’s website:
https://www.kjellgroup.com/investerare/finansiella-rapporter/.
Interim reports
The complete interim report for January–June 2024 and earlier reports are available on www.kjellgroup.com.