During Q4, net sales increased by 4.3% to SEK 294.2 million and adjusted EBITA was SEK 37.7 million. Cash flow from operating activities amounted to SEK 29.6 million.
FOURTH QUARTER
- Net sales increased by 4.3% to SEK 294.2 (282.1) million.
- Gross margin for the quarter was 84.2% (85.6%).
- Operating profit (EBIT), including impairment of intangible assets, amounted to SEK -220.0 (36.7) million, corresponding to an operating margin of -74.8% (13.0%)
- Adjusted EBITA, excluding impairment of intangible assets and items affecting comparability, was SEK 37.7 (45.7) million, corresponding to an EBITA margin of 12.8% (16.2%).
- Profit before tax was SEK -251.8 (22.4) million.
- Cash flow from operating activities amounted to SEK 29.6 (23.9) million.
- Earnings per share was SEK -1.71 (0.06) before dilution and SEK -1.71 (0.06) after dilution.
JANUARY - DECEMBER
- Net sales increased by 0.2% to SEK 967.2 (964.9) million.
- Gross margin for the period was 84.0% (84.0%).
- Operating profit (EBIT), including impairment of intangible assets, amounted to SEK -175.0 (52.8) million, corresponding to an operating margin of 18.1% (5.5%).
- Adjusted EBITA, excluding impairment of intangible assets and items affecting comparability, was SEK 109.7 (102.0) million corresponding to an adjusted EBITA margin of 11,3% (10,6%).
- Profit before tax was SEK -273.6 (-14.6) million.
- Cash flow from operating activities amounted to SEK 43.6 (25.0).
- Earnings per share was SEK -1.91 (-0.16) before dilution and SEK -1.91 (-0.16) after dilution.
- For the full year 2023, the Board proposes no ordinary dividend.
SIGNIFICANT EVENTS DURING THE PERIOD
- Decision to write down goodwill as of 31 December 2023 for the Group, from SEK 834 to 584 million. The write-down does not affect cash flow.
- In February, Desenio notified staff about a proposed reorganization which would impact approximately 10% of the employees in Sweden.
WEBCAST
A webcast- in English - will be held at 09.00 CET. Fredrik Palm, CEO, and Anna Ståhle, CFO, will present the year-end report.
If you wish to participate via webcast, please use the link https://ir.financialhearings.com/desenio-group-q4-report-2023. Via the webcast you can ask written questions.
If you wish to participate via teleconference, please register on the link https://conference.financialhearings.com/teleconference/?id=50047322. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
FINANCIAL REPORTS
The interim reports are available on the website: www.deseniogroup.com.
For further information, please contact:
Fredrik Palm, CEO, fredrik.palm@deseniogroup.com, +46 70 080 76 37
Anna Ståhle, CFO, anna.stahle@deseniogroup.com, +46 70 922 10 21
Johan Hähnel, Head of IR, johan.hahnel@deseniogroup.com, +46 706 05 63 34
About Desenio Group
Desenio Group is the leading e-commerce company within affordable wall art in Europe, with a growing presence in North America. We offer our customers a unique and curated assortment of about 9,000 designs as well as frames and accessories in 37 countries via 44 local websites and are steadily expanding to new markets.
Desenio Group is well positioned to build upon our dynamic growth model, including our proprietary technical platform, industrialized creative processes and efficient customer acquisition approach.
We are headquartered in Stockholm, Sweden, with fulfilment centres in Sweden, Czech Republic and USA. Our share is traded on Nasdaq First North Growth market, under the ticker "DSNO".
Certified Adviser
FNCA Sweden AB is the company's certified adviser.
This information is information that Desenio Group 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 2024-02-15 07:00 CET.
