Short-term fluctuations in working capital and pressure in Denmark prompt accelerated action programme
Second quarter
- Net sales decreased -10.9% to MSEK 529.7 (594.4)
- Comparable growth amounted to -9.9% (3.7)
- Gross profit declined 7.7% to MSEK 223.7 (242.4) and the gross margin increased to 42.2% (40.8)
- Adjusted EBITA totalled MSEK -9.2 (0.3) and the adjusted EBITA margin was -1.7% (0.1)
- The company's operating loss amounted to MSEK -14.5 (-8.7) and the operating margin to -2.7% (-1.5)
- The net loss for the quarter was MSEK -20.9 (-18.4)
- Cash flow from operating activities totalled MSEK -136.1 (13.0)
- Earnings per share before and after dilution amounted to SEK -0.36 (-0.59)
1 January-30 June (the period)
- Net sales decreased -8.0% to MSEK 1,091.0 (1,185.8).
- Comparable growth amounted to -7.7% (3.1)
- Gross profit declined 6.2% to MSEK 459.8 (490.0) and the gross margin increased to 42.1% (41.3)
- Adjusted EBITA totalled MSEK -11.5 (-5.3) and the adjusted EBITA margin was -1.1% (-0.4)
- The company's operating loss amounted to MSEK -26.2 (-21.3) and the operating margin to -2.4% (-1.8)
- The net loss for the period amounted to MSEK -41.6 (-40.1)
- Cash flow from operating activities totalled MSEK -127.5 (8.1)
- Earnings per share before and after dilution amounted to SEK -0.94 (-1.29)
Significant events during and after the end of the quarter
- The final outcome of the fully guaranteed rights issue was announced during the quarter.
- FSN Capital divested its holding in the company, resulting in changes to the ownership structure. Following the transaction, Cervantes Capital became Kjell Group's largest shareholder.
- During the quarter, Kjell Group held its Annual General Meeting. Among other resolutions, it was decided that the Board of Directors would comprise five members. Jan Friedman and Ola Burmark were re-elected, and David Zaudy, Ebba Ljungerud and Adeline Sterner were elected as new Board members.
"The second quarter was characterised by significant but temporary fluctuations in working capital, alongside challenges in online sales within our Danish subsidiary, AV-Cables. In close collaboration with the Board, we have accelerated our action programme to support the Group's long-term objectives.", says Andreas Rylander, CEO Kjell Group.
Webcast in connection with the publication of the interim report
Andreas Rylander, President and CEO, and Thomas Pehrsson, CFO, will hold a webcast in connection with the publication of the interim report at 10:00 a.m. on 18 July 2025.
Participate via webcast:
https://kjell-group.events.inderes.com/q2-report-2025
Participate via telefonkonferens:
https://conference.inderes.com/teleconference/?id=5009597
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-June 2025 and earlier reports are available on www.kjellgroup.com.
Contacts Kjell Group
Andreas Rylander, CEO +46 (0)73 5181 001, andreas.rylander@kjell.com
Thomas Pehrsson, CFO +46 (0)72 514 38 89, thomas.pehrsson@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 2025-07-18 07:00 CEST.
About Us
Kjell Group offers one of the most comprehensive assortment of electronic accessories on the market. The company operates online in Sweden, Norway, and Denmark, as well as through 145 service points, including 114 in Sweden and 31 in Norway. Headquartered in Malmö, the company generated SEK 2.6 billion in revenue in 2024.
With Kjell & Company's customer club, which boasts over 3 million members, and its Danish subsidiary AV-Cables, the Group has a unique understanding of people's technology needs. Approximately 1,350 employees work every day to improve lives through technology.
Learn more at kjell.com or kjellgroup.com
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