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Kjell Group AB (Publ) Interim report Q1, 1 January – 31 March 2024

Kjell Group
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Continued growth in Sweden and strong cash flow

1 January – 31 March 2024

  • Net sales increased 2.3% to MSEK 591.4 (578.2)
  • Comparable growth amounted to 2.4% (-8.1) 
  • Gross profit declined 1.5% to MSEK 247.6 (251.5) The gross margin declined to 41.9% (43.5). 
  • Adjusted EBITA totalled MSEK -5.6 (11.1) and the adjusted EBITA margin was -0.9% (1.9) 
  • The company’s operating loss amounted to MSEK -12.6 (Profit: 6.5) and the operating margin to -2.1% (1.1) 
  • The net loss for the quarter was MSEK -21.7 (-7.5) 
  • Cash flow from operating activities totalled MSEK -5.0 (-19.8) 
  • Earnings per share before and after dilution amounted to SEK -0.70 (-0.24) 

Significant events during and after the end of the quarter

  • Kjell & Company was ranked as Sweden’s most sustainable brand in the category “Home Appliances & Electronics – Stores” in the Sustainable Brand Index, Europe’s largest brand study with a focus on sustainability, for the third year in a row.
  • In March, Kjell Group appointed Thomas Pehrsson as the company’s new CFO. Thomas took up his new position on 15 April 2024, replacing Anders Hofvander who had served as interim CFO following the departure of the Group’s former CFO Niklas Tyrén on 16 February 2024.

“It is gratifying to be able to confirm that we once again increased our sales year-on-year. The market continues to offer excellent opportunities for those who continually adapt to customers’ needs and finances”, says Andreas Rylander, CEO Kjell Group.

Webcast in connection with the publication of the interim report
Andreas Rylander, President and CEO, and Anders Hofvander, interim CFO until 15 April 2024 when Thomas Pehrsson assumed the role of CFO, will hold a webcast in connection with the publication of the interim report at 10:00 a.m. on 25 April 2024. To participate in the conference, follow the link https://ir.financialhearings.com/kjell-group-q1-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–March 2024 and earlier reports are available on www.kjellgroup.com. 

Contacts Kjell Group

Andreas Rylander, CEO +46 (0)73 5181 001, andreas.rylander@kjell.com 
Per Frykebrant, IR, +46 (0)72 4655 136, per.frykebrant@kjell.com

Certified adviser

FNCA Sweden AB is the company’s certified adviser.

This information is information that Kjell Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-25 07:00 CEST.

About Us

Kjell Group offers the market’s most comprehensive product range in electronic accessories, including advisory services and installation. The business is conducted online in Sweden, Norway and Denmark and via 145 service points, of which 114 in Sweden and 31 in Norway.

Through Kjell & Company’s customer club, with over 3.25 million members, and wholly owned Danish company AV-Cables, the company has a unique understanding of people’s technology needs, and the Group’s approximately 1,200 employees work every day to improve people’s lives through technology. 

Attachments

Kjell Group Interim Report Q1 2024