RevolutionRace continues to grow globally – net sales increased by 50 percent to SEK 367.4 million and EBIT by 61 percent to SEK 103.5 million in the third quarter
“It brings me both satisfaction and pride that RevolutionRace continues to gain market share globally. Net sales in the third quarter increased by 50 percent to SEK 367.4 million, and gross profit rose to SEK 268.5 million, corresponding to a gross margin of 73.1 percent. Operating profit (EBIT) rose by 61 percent to SEK 103.5 million with a strengthened EBIT margin amounting to 27.0 percent. With our strong financial position, operational implementation capability, digital positioning and brand, RevolutionRace continues to grow rapidly in existing and recently launched markets,” says Pernilla Nyrensten, CEO and co-founder of RevolutionRace.
Third quarter – January - March, 2022
- Net sales for the period increased by 50 percent to SEK 367.4 (244.5) million.
- Operating profit (EBIT) increased by 61 percent and amounted to SEK 103.5 (64.4) million, corresponding to an EBIT margin of 27.0 (25.9) percent. Adjusted operating profit (EBIT) amounted to SEK 103.5 (72.8) million, corresponding to an adjusted EBIT margin of 27.0 (29.3) percent.
- Average net order value (AOV) was SEK 849 (777). The increase is primarily explained by a favourable market mix.
- Earnings per share before dilution amounted to SEK 0.72 (0.46) and after dilution SEK 0.72 (0.44).
Highlights during the quarter
- Launch in Estonia - now local online stores in 18 markets in total.
- The launch of a new product category in February - bags, has been very well received.
- Continued very strong sales development in DACH where net sales increased by 93 percent.
- Good development on Amazon including the relaunch of Amazon UK.
- Successful marketing efforts in markets with the greatest potential.
The report will be presented to investors, analysts and media in a webcast today at 10:00 CEST.
Follow the presentation live on: Link to webcast
To listen to the conference by phone, please dial:
SE: +46856642695
UK: +443333009266
US: +16467224957
For more information, please contact:
Pernilla Nyrensten
CEO and co-founder
E-mail: [email protected]
Jesper Alm
CFO
E-mail: [email protected]
This information is information that RVRC Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU) No 596/2014. The information was submitted for publication, through the agency of the contact person set out above, at 07:30 CET on May 10, 2022.
About RevolutionRace
RVRC Holding AB (publ) (RevolutionRace) offers high quality functional clothing for people with an active lifestyle. The company was founded in 2013 by Pernilla Nyrensten, CEO and Niclas Nyrensten, Creative Director. Since its inception, the founders have had the goal of creating multifunctional clothing with great fit, in the highest quality and at reasonable prices under the tag line "Nature is our playground". By selling clothes online, directly to consumers without unnecessary intermediaries, RevolutionRace can offer products that have an unmatched value in terms of price, quality and design. Together with its customers, the company has grown rapidly and is selling its products to more than 35 countries. For more information, please visit corporate.revolutionrace.com.
