Continued good profitability and signs of increased demand
Second quarter
- The net revenue amounted to
SEK 129.1 (121.2) million, representing an increase of 6.5% (-13.8%). - The organic net revenue growth was -1.5% (-15.6%) after adjusting for currency effects.
- The gross margin increased to 63.6% (60.1%).
-
The operating profit significantly improved to
SEK 11.8 (0.4) million, which consequently led to an increased operating margin, which improved to 9.1% (0.4%). -
The period's result increased to
SEK 10.2 (-0.1) million. - The inventory value as a percentage of net revenue (rolling twelve months) reached 26.7% (24.8%).
-
The net cash position at the end of the period was
SEK 81.6 (81.8 ) million. -
Earnings per share before and after dilution amounted to
SEK 0.49 (-0.01). -
The average Net Promoter Score (NPS) was 65 (68) and the average
Trustpilot score remained stable at 4.8 (4.8).
Comments from Michael Lindskog, CEO
"We continue to deliver good profitability thanks to our focus on cost efficiency. During the quarter, we have seen signs of increased consumer demand on several markets which, in combination with exchange rate effects and that we deliver on our strategic initiatives, has contributed to the net revenue increase during the quarter."
"We continue our work toward the vision of becoming the center of gravity for the European rug industry. I am very pleased that we during the quarter launched the first version of our new e-commerce platform in seven markets which also represents a significant share of our net revenue."
"The investment into an expanded and improved outdoor rugs selection has been successful and contributed to the quarter's net revenue increase. We have already seen good potential with our new bathmat products and plan to further develop the assortment moving forward."
"Our financial position is strong with a net cash position of
"For the month of July, after our current reporting period, we saw continued net revenue increase as well as organic growth. I look forward toward the rest of the year where we will continue to focus on effectively navigating the market, continuing the work on our strategic initiatives, and ensuring a successful start to this year's peak season."
Conference call in connection with the publication of the interim report
In connection with the publication of the Interim report for January - June,
To participate in the conference call (with the opportunity to ask verbal questions)
Please register via: https://conference.financialhearings.com/teleconference/?id=200913. After registration you will receive a phone number and a conference-ID to log in to the call. It is also possible to participate in the telephone conference via the Group's website. https://www.rugvistagroup.com/en/report/Q2-2023/
To participate via the webcast (with the opportunity to ask written questions)
Please join via: https://ir.financialhearings.com/rugvista-group-q2-2023
The interim report and the presentation are available on
https://www.rugvistagroup.com/en/investors/reports-and-presentations/
Contact information
Michael.Lindskog@rugvista.se
Joakim Tuvner, CFO
Joakim.Tuvner@rugvista.se
InvestorRelations@rugvistagroup.com
This report includes information that
Certified advisor
Box 5216
Nybrogatan 34
SE 102 45 Stockholm
info@fnca.se
About Rugvista
The business is divided into three segments: Private consumers (B2C), Business consumers (B2B), and Marketplaces & Other (MPO). The B2C segment represents the consumer market and is
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