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Desenio Group AB (publ) – Half-Year Report January–June 2023

During Q2 2023, net sales increased by 0.9% to SEK 184.5 million and adjusted EBITA amounted to SEK 4.8 million. Cash flow from operating activities amounted to SEK -37.7 million in the quarter.

SECOND QUARTER

  • Net sales increased by 0.9% to SEK 184.5 (182.9) million. 
  • Gross margin for the quarter was 84.0% (83.1%).
  • Operating profit amounted to SEK -4.2 (-28.1) million, corresponding to an operating margin of -2.3% (-15.3%).
  • Adjusted EBITA was SEK 4.8 (-8.4) million, corresponding to an adjusted EBITA margin of 2.6% (-4.6%).
  • Profit before tax was SEK -17.4 (-48.3) million. 
  • Cash flow from operating activities amounted to SEK -37.7 (9.3) million.
  • Earnings per share was SEK -0.12 (-0.29) before dilution and SEK -0.12 (-0.29) after dilution.

JANUARY - JUNE

  • Net sales decreased 5.5% to SEK 444.8 (470.5) million. 
  • Gross margin for the period was 84.2% (83.1%).
  • Operating profit amounted to SEK 28.9 (-3.0) million, corresponding to an operating margin of 6.5% (-0.6%).
  • Adjusted EBITA was SEK 46.9 (28.1) million, corresponding to an adjusted EBITA margin of 10.5% (6.0%).
  • Profit before tax was SEK -8.2 (-37.0) million. 
  • Cash flow from operating activities amounted to SEK 4.9 (-39.5) million.
  • Earnings per share was SEK -0.08 (-0.23) before dilution and SEK -0.08 (-0.23) after dilution.

SIGNIFICANT EVENTS DURING THE PERIOD
On 27 April, it was announced that Anna Ståhle was appointed CFO for Desenio Group AB, effective 1 August 2023.

Wecast
A webcast - in English – will be held at 09.00 CEST. Fredrik Palm, CEO, and Anna Ståhle CFO, will present the Quarterly Report. 

If you wish to participate via webcast please use the link below. Via the webcast you are able to ask written questions. 
https://ir.financialhearings.com/desenio-group-q2-2023

If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. 
https://conference.financialhearings.com/teleconference/?id=200824

FINANCIAL REPORTS
The interim reports are available on the website: www.deseniogroup.com

For further information, please contact:

Fredrik Palm, CEO, fredrik.palm@deseniogroup.com, +46 70 080 76 37
Anna Ståhle, CFO, anna.stahle@deseniogroup.com, +46 70 922 10 21
Johan Hähnel, Head of IR, johan.hahnel@deseniogroup.com, +46 706 05 63 34

This information is information that Desenio Group 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 2023-08-24 07:00 CEST.

Certified Adviser

FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at info@fnca.se.

About Desenio Group

Desenio Group is the leading e-commerce company within affordable wall art in Europe, with a growing presence in North America. We offer our customers a unique and curated assortment of about 9,000 designs as well as frames and accessories in 37 countries via 44 local websites and are steadily expanding to new markets.
 
Desenio Group is well positioned to build upon our dynamic growth model, including our proprietary technical platform, industrialized creative processes and efficient customer acquisition approach.
 
We are headquartered in Stockholm, Sweden, with fulfilment centres in Sweden, Czech Republic and USA. Our share is traded on Nasdaq First North Growth market, under the ticker “DSNO”.

Attachments

Desenio Group Quarterly Report January June 2023

Source:MFN
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