In This Article:
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Revenue Growth: Increased by 2% in the quarter, or 3% in local currency.
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Booztlet.com Revenue: Increased by 18%.
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Boozt.com Revenue: Declined by 1%, flat in local currency.
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Adjusted EBIT Margin: Improved to 2.3% from 1.2% last year.
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Gross Margin: 38%, down 0.9 percentage points from last year.
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Active Customers: Reached 3.8 million, growing by 7%.
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Cash Position: Solid, despite SEK134 million spent on share buybacks.
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Free Cash Flow: Negative SEK619 million, improved from negative SEK685 million last year.
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Net Cash Position: SEK8 million at the end of the quarter.
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CapEx: SEK42 million, down from SEK97 million last year.
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Workforce Reduction: 10% reduction in total workforce.
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Guidance Revision: Revenue growth now expected between 0% to 6%; Adjusted EBIT margin projected between 4.5% and 5.5%.
Release Date: April 25, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Boozt AB (BOZTY) reported a 2% increase in revenue for Q1 2025, or 3% in local currency, driven primarily by strong performance from Booztlet.com with an 18% increase.
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The company expanded its customer base by 7%, reaching 3.8 million active customers across both platforms, with Booztlet.com seeing a 22% increase in active customers.
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Customer satisfaction remains high, with a Trustpilot score of 4.2 and a net promoter score of 74, indicating strong customer loyalty.
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The adjusted EBIT margin improved to 2.3% from 1.2% in the previous year, driven by efficiency gains in fulfillment and distribution, and exemption from customs in Norway.
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Boozt AB (BOZTY) completed a SEK200 billion share buyback program, maintaining a solid cash position and planning to launch a new buyback program at a comparable level.
Negative Points
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Revenue from Boozt.com declined by 1% in the quarter, reflecting cautious consumer behavior and less aggressive pricing strategies.
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The company revised its revenue growth guidance to 0% to 6%, down from the previous 4% to 9%, due to increased market uncertainty and unfavorable currency movements.
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The adjusted EBIT margin guidance was lowered to 4.5% to 5.5%, from the initial 5.8% to 6.5%, impacted by currency fluctuations and market conditions.
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Boozt AB (BOZTY) experienced a challenging operating environment with declining consumer confidence in the Nordics, influenced by geopolitical uncertainties.
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Inventory levels were higher than desired, leading to expectations of more discounting in Q2 to clear excess stock, particularly in autumn and winter products.