During Q1, net sales decreased by 12.1% to SEK 228.9 million and adjusted EBITA was SEK 22.2 million. Cash flow from operating activities amounted to SEK -19.1 million.
FIRST QUARTER
- Net sales decreased by 12.1% to SEK 228.9 (260.3) million.
- Gross margin for the quarter was 83.8% (84.3%).
- Operating profit (EBIT) amounted to SEK 19.0 (33.1) million, corresponding to an operating margin of 8.3% (12.7%).
- Adjusted EBITA, excluding impairment of intangible assets and items affecting comparability, was SEK 22.2 (42.1) million, corresponding to an EBITA margin of 9.7% (16.2%).
- Profit before tax was SEK -3.9 (9.2) million.
- Cash flow from operating activities amounted to SEK -19.1 (42.6) million.
- Earnings per share was SEK -0.05 (0.04) before dilution and SEK -0.05 (0.04) after dilution.
SIGNIFICANT EVENTS DURING AND AFTER THE PERIOD
In the quarter, a reorganization was carried out, resulting in the company terminating 10 percent of roles in Sweden (equivalent to 16 full-time positions).
Webcast
A webcast - in English - will be held 25 April at 09.00 CEST. Fredrik Palm, CEO, and Anna Ståhle CFO, will present the Quarterly Report.
If you wish to participate via webcast please use the link below. Via the webcast you are able to ask written questions.
https://ir.financialhearings.com/desenio-group-q1-report-2024/register
If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=50048684
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
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 2024-04-25 07:00 CEST.
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".
