Sharp increase in profit and stronger margins in the third quarter
Quarter July-
- Net sales amounted to MSEK 428.4 (426.8)
- The gross margin was 39.2% (36.8)
- EBITA improved 19.4% to MSEK 34.4 (28.8)
- The EBITA margin was 8.0% (6.7)
- Net profit amounted to MSEK 15.9 (8.9)
- Earnings per share amounted to
SEK 1.0 (1.1)
Period January-
- Net sales rose 4.7% to MSEK 1,224.7 (1,169.3)
- The gross margin was 36.3% (36.3)
- EBITA improved to MSEK 15.3 (6.8)
- The EBITA margin was 1.3% (0.6)
- The EBITA margin LTM amounted to 5.1%
- Net loss amounted to MSEK -25.2 (-36.5)
- Earnings per share amounted to
SEK -2.0 (-4.6)
Significant events in the third quarter
- The pandemic restrictions, and their impact on our operations, were lifted on 29 September
- Customers returned to in-person visits, leading to positive sales growth of 2.8% in stores
Akademibokhandeln entered a three-year partnership as a primary partner with the non-profit group Berättarministeriet
Comments from the CEO
During the quarter, gross margins increased 7% and EBITA increased 19% compared with the same quarter last year. Physical stores posted sales growth of 3%, Akademibokhandeln Online's sales increased by 20% and sales of other products increased by 7%.
During the third quarter, we continued our long-term focus on measures to enhance profitability, which resulted in a 7% improvement in gross margins and significantly improved EBITA of MSEK 34.4 (28.8). The EBITA margin LTM is thus 5% and steadily increased during the year. I'm very pleased with our price optimisation efforts, and the investments made in expanding the range of other products have had a clear effect on our profitability.
It is positive that our total sales during the quarter were stable, reaching MSEK 428.4 (426.8) despite a strong comparative quarter in 2020 when online channels increased significantly, and we saw a recovery in stores. Compared with the more typical year of 2019, third-quarter sales increased by 3%.
The third quarter was positive for the Akademibokhandeln brand. We saw a continued stream of customers returning to stores and a 3% increase in sales.
Akademibokhandeln Online also posted a strong sales increase of 20%. Sales for Bokus Online decreased by 4% during the quarter, which was better than the market, while profitability surged by 38%. Compared with the more typical year of 2019, sales increased by 12%. So far this year, our two online channels have experienced strong sales growth of 15% over the previous year.
During the quarter, we continued to invest in our digital transformation to generate growth. For example, we will soon be launching new solutions to improve the in-store customer experience.
There was also other exciting development during the quarter. By Christmas, we will be opening a new store at a prime location in
It is very gratifying to know that our customers appreciate what we do - customer satisfaction with both Bokus and
We are on the right track to deliver on our financial targets and I look forward to the final and strongest quarter of the year, which we are now entering without any pandemic restrictions. It's time for holiday shopping that spreads creativity and the joy of reading to all of
Further information
Appendix:
The interim report is available at https://www.bokusgruppen.com/en/investors/reports/
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