Rugvista Group AB (publ) – publishes Interim Report for January–September 2023

Back to profitable organic growth

Third quarter

• Net revenue amounted to SEK 159.6 million (127.9), equivalent to an increase of 24.7% (-9.3%).
• Organic net revenue growth was 14.1% (-12.7%).
• Gross margin was 62.7% (63.5%).
• Operating profit amounted to SEK 18.6 million (16.6), and the operating margin was 11.7% (13.0%).
• Profit for the period totaled SEK 15.2 million (13.0).
• Earnings per share before and after dilution were SEK 0.73 (0.63).
• The average NPS (Net Promoter Score) was 68 (72) and the average Trustpilot score remained unchanged at 4.8 (4.8).

Comments from Michael Lindskog, CEO

”I am glad that we can yet again report organic net revenue growth combined with continued good profitability.”

“That we deliver organic growth despite a challenging macroeconomic climate in the majority of Europe is evidence that we are effectively navigating the market conditions.”

“Net revenue for the quarter was SEK 159.6 (127.9) million corresponding to an increase of 24.7% (-9.3%).  The organic net revenue growth was 14.1%.”

“During the quarter, we launched our new e-commerce platform in twelve markets and scaled our marketing activities.  In addition to the continued roll out of the platform, the development of the new checkout has continued, and it was released in two markets during the month of October.”

“The quality and volume of content we are publishing across our channels continue to take steps forward and we are convinced that this improves and strengthens our customer offering both in the short and long term.”

“Our strategic KPI:s developed well during the quarter where the number of orders and the number of new customers grew by 43% and 53% respectively compared to last year.  The average NPS value was 68 (72) and continues to be at a very high level.”

“I am happy and proud of our performance during the third quarter, but the outlook for the rest of the year is uncertain.  We remain focused on effectively navigating the market and are looking forward to continuing to deliver on our strategic agenda as well as executing our commercial plan for this year’s peak season.”

Conference call in connection with the publication of the interim report

In connection with the publication of the Interim report for January – September, Michael Lindskog (CEO) and Joakim Tuvner (CFO) will host a conference call and a webcast on November 9th, 2023, at 09:00 CET. The presentation will be held in English.

To participate in the conference call (with the opportunity to ask verbal questions)
Register via: https://conference.financialhearings.com/teleconference/?id=5001288 After registration you will be provided phone numbers and a conference ID to access the conference. It is also possible to participate in the telephone conference via the Group's website. https://www.rugvistagroup.com/en/report/Q3-2023/

To participate via the audiocast (with the opportunity to ask written questions)
Please join via: https://ir.financialhearings.com/rugvista-group-q3-2023

The interim report and the presentation are available on Rugvista Group's website:
https://www.rugvistagroup.com/en/investors/reports-and-presentations/

 

Contact information

Michael Lindskog, CEO
[email protected]

Joakim Tuvner, CFO
[email protected]
[email protected]

This report includes information that Rugvista Group AB (publ) 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 07.30 a.m. CET on November 9, 2023.

Certified advisor

FNCA Sweden AB
Box 5216
Nybrogatan 34
SE 102 45 Stockholm
[email protected]

About Rugvista

Rugvista is one of Europe’s leading “direct-to-consumer” e-commerce players and markets carpets and rugs through its own web-shops available in 20 different languages using the brands Rugvista and CarpetVista. The company was founded 2005 and offers a wide and relevant selection of high-quality design- and traditional carpets and rugs at attractive prices. Rugvista offers its EU based customers free deliveries and returns free of charge.

 

The business is divided into three segments: Private consumers (B2C), Business consumers (B2B), and Marketplaces & Other (MPO). The B2C segment represents the consumer market and is Rugvista’s core segment.

Number of coworkers within Rugvista Group is approximately 90 FTEs and the company is headquartered in Malmö, Sweden. The Rugvista Group AB (publ) share is traded on Nasdaq First North Premier Growth Market under the ticker symbol “RUG”.