Interim report for 1 January – 31 March 2016 First

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Apr 19, 2016 at 3:00 AM

Interim report for 1 January – 31 March 2016

First Quarter · Net sales amounted to SEK 1,171.3 (1,196.5) million · EBITDA excluding non-recurring items amounted to SEK -20.0 (-7.4) million · Operating earnings excluding non-recurring items amounted to SEK -34.3 ( -16.4) million. Operating earnings including non-recurring items amounted to SEK -49.7 (-34.3) million · Net income after tax amounted to SEK -40.5 (-29.4) million · Earnings per share amounted to SEK -0.27 (-0.20) · Cash flow from operations amounted to SEK -220.6 (-218.3) million · Including changes in Qliro Financial Services’ consumer lending, cash flow from operations amounted to SEK -169.0 (-219.9) million CEO statement Paul Fischbein, CEO comments: ”During the first quarter, Qliro Financial Services continued to develop in line with our high expectations. The business volume increased by 52% while operating income increased by a full 161% to SEK 47 million. Operating earnings (EBT) increased significantly and amounted to SEK -4.9 million compared to SEK -13.3 million last year. We expect that Qliro Financial Services soon will receive approval to become a credit market company, and the company has continued preparations for the launch on the Norwegian market. This, together with the introduction of additional financial services, will be the next big step in the company’s development. For our retail businesses the quarter in general was affected by the, calendar wise, early Easter and the weakened Norwegian krone. Additionally, the mild weather has led to campaign-driven sales and a lower gross margin, not least for Nelly. At the same time we see positive signs that are expected to lead to substantial earnings effects during the year. Nelly’s focus on reducing cost and profitable growth has started to show results and the operating margin increased during the quarter. Nelly’s sales increase was mainly driven by strong growth in Sweden, amounting to 17%. The margin improvement was achieved even though the company has conducted extensive campaigns as a result of the mild winter and a clearance-driven fashion market in the Nordics. Focus going forward will be on improving the product margin, something which will be supported by the fact the company has a sound inventory after the campaigns during the quarter. Nelly has also, in April, given notice to approximately 35 employees at the offices in Borås and Stockholm. This is never an easy decision, but necessary and important in order to strengthen the company and create an organization and cost structure suited to the continued implementation of the company’s Nordic strategy. At Lekmer, we see that the quality of the warehouse operations in Arlandastad has increased substantially, with improvements in both delivery times and delivery quality. The delivery quality is now in line with where it should be and the fact that Lekmer once again reports increased visits and orders during the quarter is an important sign that our customers believe in Lekmer. Costs at the warehouse are however still high, but we hope to soon reach a solution which will reduce the cost level significantly. Within CDON Marketplace, sales generated for external merchants (Marketplace) grew by around 20% in the quarter. This is an important development for the company and, as part of this development, we are of course very pleased that CDON has been able to add Adlibris as a merchant on CDON Marketplace. The next exciting initiative from CDON will be the launch of Green Friday, the Black Friday of the Spring, at the end of April. Lastly, we can now see that the actions taken at Gymgrossisten in 2015 to secure continued strong profitability are starting to show results and the margins in the first quarter are at a satisfactory level. The Groups financial position remains sound with cash and cash equivalents of over SEK 130 million. Moreover, we have also, with own funding, financed Qliro’s loans to the public with around SEK 150 million.” For additional information, please visit www.qlirogroup.com or contact: Paul Fischbein, President and Chief Executive Officer Tel: +46 (0) 10 703 20 00 Nicolas Adlercreutz, CFO Tel: +46 (0) 70 587 44 88 Press, investor and analyst enquiries: Erik Löfgren, Head of Communications Tel: +46 (0) 700 80 75 06 press@qlirogroup.com, ir@qlirogroup.com About Qliro Group Qliro Group is a leading e-commerce group in the Nordic region. Established in 1999, the Group has expanded its product portfolio and is now a leading e -commerce player within consumer goods and lifestyle products through CDON.com, Lekmer, Nelly (Nelly.com, NLYman.com, Members.com), Gymgrossisten (Gymgrossisten.com/Gymsector.com, Bodystore.com, Milebreaker.com) and Tretti. The payment service solution Qliro is also part of the Group. In 2015, the Group generated revenue of SEK 5.2 billion. Qliro Group’s shares are listed on the Nasdaq Stockholm MidCap list under the ticker symbol “QLRO”. The information in this interim report is that which Qliro Group AB is required to disclose under the Securities Markets Act. This information was released for publication at 08:00 CET on 19 April 2016.

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Vanessa Hering's Empathetic Model Wins 2026 Herizon Award

Recognizing a Game-Changer in Financial Wellness Vanessa Hering's name isn't just getting thrown around for no reason, folks. She's the client success officer at Beyond Finance, a heavyweight in the financial wellness arena, and she's just snagged the 2026 Herizon Award. This ain't some run-of-the-mill accolade; it acknowledges the profound changes she's spearheaded in...

Sesame Software's Game-Changer: Smooth CRM Switch

Why Leaving Salesforce Isn't as Crazy as It Sounds Stepping away from Salesforce isn't your run-of-the-mill decision for businesses. It’s more like abandoning ship, anticipating lurking dangers: losing cherished data, facing burdensome API restrictions, and fretting over years of trapped history. It’s not as simple as flipping a switch, and that’s what keeps most...

IGT and MGM Springfield Unveil Jackpot Games in MA

Milestone Event in Massachusetts Gaming Scene When IGT and MGM Springfield team up to unveil the first wide-area progressive slots games in Massachusetts, it’s more than just a new game on the floor—it's a seismic shift in the region's gambling landscape. We've got twenty new shiny wheels turning over at the MGM Springfield, with jackpots starting at a hefty $1.125...

Doximity Faces Class Action: Investor Guidance Needed

Doximity Lands in Hot Water: The Stakes for Investors Alright, traders, there's a storm brewing around Doximity (NYSE:DOCS), and it's a doozy. A class action lawsuit has been slapped on this digital platform for medical pros, and the accusations are serious. If you rode the wave and snagged yourself some shares between August 8, 2024, and May 13, 2026, you're right in the...

Waters Acquires MOBILion: Ion Mobility Meets AI

MOBILion Joins Waters' Fold: A New Era for Proteomics Ah, the biotech world just saw another big whirl with Waters Corporation snagging MOBILion Systems. Now, this isn't just some stroll in the market park. We're talking about weaving MOBILion's fancy high-resolution ion mobility separation tech right into Waters' already robust mass spectrometry setup. These folks are...

Protalix to Reveal Q3 2026 Results Amid Rare Disease Push

Looking Ahead to Protalix's Q3 Revelation Nobody's pretending it's a cakewalk to stay ahead in the biopharma sector, especially when you're tangoing with the unpredictable world of rare disease therapeutics. But here we are, with Protalix BioTherapeutics scheduling their third-quarter financial results announcement for November 10, 2026. If you've been tracking them—or...

Mesirow Taps Shawn Beber as New CEO: Strategic Leap

Beber's Big Move: Mesirow Bets on Experience When a company's betting big on its next move, it goes for someone who's seen a storm or two. Enter Shawn Beber. Mesirow's new main guy. The firm isn't playing small potatoes with this hire. Fresh off a long gig at CIBC, Beber brings a hefty bag of tricks and a track record of navigating the high seas, none more impressive than...

Windward Expands Maritime Scope with Azimut.ai Deal

An Invincible Maritime Shield When it comes to maritime intelligence, Windward just pulled a fast one. In a market where staying ahead of the game is like playing three-dimensional chess, they've snatched up Azimut.ai. This ain't some small fry; it's a visual intelligence firm poised to shore up Windward's grip on the elusive maritime world. Charting New Waters with...

Hidden Fences: A Smarter Choice for Pet Owners?

The Case for Invisible Fences Man's best friend meets modern containment! Why are hidden fences gaining traction in households across Culpeper, VA, and beyond? Pet Containment Expert Lawrence Sowers spills some valuable insights into why so many are ditching traditional fences. Practical reasons abound, folks! Keeping the Yard Beautiful Who wants their landscaping ruined...

Samsung Biologics Hits 'Negligible' ESG Risk Milestone

Samsung Biologics Achieves a Low-Risk Triumph You gotta hand it to Samsung Biologics for hitting a 'Negligible Risk' rating. Their latest score? A cool 9.0. That’s like walking into the pharmaceuticals room and getting a standing ovation. It's no small feat—climbing up from a 'Low Risk' rating to the top tier in Morningstar Sustainalytics' playbook. For us spectating...