Kollect On Demand Holding AB (publ) (“Kollect”) reports record quarterly revenues of SEK 16.9 million for continuing operations, up 34% on Q2 2021 and 26% compared to Q1 2022

Highlights from the Quarter:

• Revenue for continuing operations in Q2 2022 was SEK 16.9 million, up 34% on Q2 2021 revenue of SEK 12.6 million, and up 26% compared to Q1 2022 revenues of SEK 13.4 million.
• Recurring revenue from continuing operations of SEK 8.1 million in Q2 2022 was up 55% compared to SEK 5.2 million in Q2 2021
• Gross profit from continuing operations in Q2 2022 amounted to SEK 4.9 million, up 28% compared to SEK 3.8 million in Q2 2021,and was up 21% compared to SEK 4.0 million in Q1 2022.
• Gross margin from continuing operations for Q2 2022 was 29%, compared to 30% in Q2 2021 and 30% in Q1 2022.

CEO Comments:

“I’m pleased to report that the Company has maintained our track record of consistent year-on-year revenue growth, during a quarter of transition for the business following the disposal of our bin collection business. In terms of revenue from continuing operations, this was a record quarter for total revenue, recurring revenue and non-recurring revenue.”

Key Figures:

Recurring revenues from continuing operations were up 55% on Q2 2022, and up 16% from the previous quarter, reflecting the strong work of the commercial team.

There was a lower increase in non-recurring revenues of 19% versus prior year, driven by domestic skip collection and domestic junk removal. This was pleasing in spite of the inflationary pressures which households have been exposed to since the start of the year.

During the Quarter, the Company continued to focus on maintaining gross margins and achieved a gross margin of 29% from its continuing operations, which was in line with margins in the prior year and prior quarter. This outcome was largely attributable to the revenue mix.

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