Based on preliminary figures for 2024, Boozt's net revenue increased 6% and the adjusted EBIT margin is 5.2%. However, Boozt is currently cooperating with the Norwegian Customs Authority in order to be compensated for wrongfully paid import duties in Norway. Taking into account the effect of the expected correction, the adjusted EBIT margin will be lifted to around 5.7%.
Boozt net revenue for FY 2024, based on preliminary figures, is SEK 8,215 million corresponding to 6% growth compared with 2023. This is to be compared with the latest guidance of "around 7% growth". The result was due to Christmas sales falling short of expectations, with the consumer environment being tougher than expected.
The preliminary adjusted EBIT margin for FY 2024 is 5.2% compared with the latest provided guidance of 5.2-5.4%.
However, following the final decision by the Norwegian Supreme Court in the case between Boozt and the Norwegian Tax Administration, Boozt is currently cooperating with the Norwegian Customs Authority (Tolletaten) in order to correct the import duties that Boozt was incorrectly obliged to pay during the period October 2022 through November 2024. The part of the expected correction that relates to the financial year 2024 amounts to approximately SEK 48 million. Taking into account the effect of the expected correction, the adjusted EBIT margin will be around 5.7%. Reclaimed customs relating to early years will be included in the profit and loss statement as an adjustment and consequently will be included in the reported EBIT for 2024.
The financial information provided is unaudited and subject to a customary external audit.
As per Boozt's financial calendar, the interim financial report for Q4 2024 is scheduled for release on 7 February, 2025.
For additional information, please contact:
Magnus Thorstholm Jensen /Investor Relations / Phone: +45 30 50 44 02 / Email: matj@boozt.com
Ask Kirkeskov Riis / Media Relations / Phone: +45 53 62 54 60 / Email: askr@boozt.com
This information is information that Boozt 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 2025-01-02 17:04 CET.
