RevolutionRace reports its strongest quarter yet. Growing by 58% and increasing EBIT to 117 MSEK.
“I am happy and proud to be able to report the greatest individual quarter in the history of the company. Net sales for the quarter increased by 58% to 392 MSEK and adjusted EBIT increased by 73% to 117 MSEK. We have a continued very strong momentum with great sales growth, record high operating profit, improved adjusted operating margin, and increased average order value. This despite the continued pandemic related challenges. I can only be proud, and when we summarize the first six months, I notice that RevolutionRace delivered above expectations on all points. The company is better positioned than ever to continue capturing market shares and we are developing well in relation to the long-term financial targets”, says Pernilla Nyrensten, co-founder and CEO.
Second quarter (Oct-Dec 2021)
- Net sales for the period increased by 58 percent to SEK 391.7 (248.3) million.
- Operating profit (EBIT) increased by 76 percent and amounted to SEK 117.5 (66.8) million, corresponding to an EBIT margin of 28.9 (26.6) percent. Adjusted operating profit (EBIT) amounted to SEK 117.5 (67.9) million, corresponding to an adjusted EBIT margin of 28.9 (27.0) percent.
- Average net order value (AOV) was SEK 791 (773). The increase is primarily explained by a favourable market mix.
- Earnings per share before dilution amounted to SEK 0.82 (0.47) and after dilution SEK 0.82 (0.46).
Highlights during the quarter
- The strongest individual quarter in the company’s history – net sales and profit.
- The launch in Switzerland in October exceeds expectations – now a total of 17 markets with local online shops.
- Launch of a, for the company, new product category in December – hiking shoes, sold out within two days and with very positive product reviews.
- Secured flow of goods and planned inventory ramp up, despite global supply strains.
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: +46856642704
UK: +443333009261
US: +16467224903
For more information, please contact:
Pernilla Nyrensten
CEO and co-founder
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 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:15 CET on 8 February 2022.
About RevolutionRace
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 unbeatable 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 with net sales exceeding SEK 1 billion (January 2021 - December 2021). Since June 16, 2021, RevolutionRace is listed on Nasdaq Stockholm Midcap. For more information, please visit corporate.revolutionrace.com.
