Rugvista Group AB (publ) – publishes Year-end Report for January – December 2024

Positive signals in a continuously challenging market

Fourth quarter

• Net revenue amounted to SEK 245.9 (233.3) million, corresponding to an increase of 5.4% (14.3%).
• Organic net revenue growth was 4.9% (9.3%).
• The gross margin was 62.1% (60.3%).
• Operating profit (EBIT) amounted to SEK 29.3 (29.4) million, and the operating margin was 11.9% (12.6%).
• Profit for the period amounted to SEK 24.1 (24.3) million.
• Earnings per share before and after dilution amounted to SEK 1.16 (1.17). 
• The average NPS (Net Promoter Score) was 60 (64), and the average Trustpilot value was 4.7 (4.8).

Comments from Ebba Ljungerud, CEO

“We conclude 2024 on a positive note with quarterly growth of 5%. The quarter was characterized by a significant investment during Black Month, which resulted in record-high sales on both a monthly and quarterly basis.”

“Net revenue for the quarter, which is the highest ever for Rugvista, amounted to SEK 246 million, an increase from SEK 233 million in the corresponding period last year. We saw a significant increase in the number of orders during the quarter, reaching 118,600 (101,300), while also welcoming 87,400 (74,100) new customers. A key underlying factor is our marketing efforts targeted earlier in the customer purchase process, which is clearly reflected in the increase in visits to our digital platforms, reaching 13.5 (8.7) million.”

“Operating profit for the quarter amounted to SEK 29 million, which is at the same level as the previous year, corresponding to an operating margin of 11.9% (12.6%).”

“Despite the sharply increased order volume and high pressure on our organization, we managed to maintain a high level of customer satisfaction. Our NPS reached 60, and Trustpilot was at 4.7, strong values within our industry.”

“Given the continued challenging market conditions during the year, we have nonetheless managed to develop Rugvista positively toward our strategic objectives. Our financial position remains strong. In addition to ongoing investments in growth and business development, Rugvista aims to distribute up to 50% of net profit to shareholders. For 2024, the Board proposes a dividend of SEK 1.25 (1.80) per share, equivalent to a total of SEK 26 (37) million.”

“Finally, I would like to thank all employees for your dedication and hard work during this intense period of high demand and many orders. I also extend my gratitude to our shareholders for your continued trust. We leave Q4 with pride in our record levels and look forward to the opportunities and challenges ahead in the coming year.”

Conference call in connection with the publication of the interim report

In connection with the publication of this Year-end report, Ebba Ljungerud (CEO) and Joakim Tuvner (CFO) will host a conference call and a webcast on February 6th, 2025, at 09:00 CET. The presentation will be held in English.

Links to participate in the conference call (with the opportunity to ask verbal questions) or to join the webcast (with the opportunity to submit written questions) can be found here:
https://financialhearings.com/event/48859

It is also possible to participate in the conference call via the Group’s website:

https://www.rugvistagroup.com/investors/reports-and-presentations/

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

Contact information

Ebba Ljungerud, 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 February 6, 2025.

Certified advisor

FNCA Sweden AB
 

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 100 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”.