Inside information, profit warning: Tokmanni Group lowers its guidance for 2024 and provides preliminary information on its financial performance for the first half of the year
Tokmanni Group Corporation Inside information 23 July 2024 at 7:00 pm
Tokmanni Group's second quarter sales were affected by the late start of the spring season. Consumer confidence is expected to remain weak especially in Finland during the remainder of the year, and in addition the increase in VAT in Finland on 1 September 2024 and higher freight costs than previous year are expected to have a negative impact on profitability during the second half of the year.
New guidance for 2024
In 2024, Tokmanni Group expects its revenue to be EUR 1,650–1,730 million. Comparable EBIT is expected to be EUR 98–118 million.
Previous guidance for 2024 issued by Tokmanni Group on 13 February 2024
In 2024, Tokmanni Group expects its revenue to be EUR 1,660–1,760 million. Comparable EBIT is expected to be EUR 110–130 million.
Preliminary information on first half 2024 financial performance
Based on preliminary and unaudited information, revenue was approximately EUR 761.7 million and comparable EBIT approximately EUR 22.7 million in the first half of 2024.
| 4–6/2024 | 4–6/2023 | Change % | 1–6/2024 | 1–6/2023 | Change % | |
| Revenue, MEUR | 422.5 | 318.9 | 32.5% | 761.7 | 557.1 | 36.7% |
| Comparable EBIT, MEUR | 27.8 | 28.5 | -2.4% | 22.7 | 26.2 | -13.5% |
Tokmanni Group will publish its 2024 half-year financial report on Friday 16 August 2024. The company does not comment on first-half preliminary information before publishing its half-year report.
For further information, please contact
Tapio Arimo, CFO, tel. +358 20 728 7390, tapio.arimo(at)tokmanni.fi
Tokmanni Group in brief
Tokmanni Group Corporation is one of the leading variety discount retailers in the Nordics. Around 6,600 employees in Finland, Sweden and Denmark make customers’ everyday life and special occasions easier by offering a versatile and up-to-date assortment of nordic and international brand-name products and other high-quality products at prices that are always affordable. With more than 370 Tokmanni, Dollarstore, Bigdollar, Miny, Click Shoes and Shoe House stores and online stores, the Group is always close to its customers. In 2023, Tokmanni Group’s revenue was EUR 1,393 million and comparable EBIT amounted to EUR 99 million. The Group's shares are listed on Nasdaq Helsinki.
Distribution
Nasdaq Helsinki
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