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2021-10-28

BHG Group AB: Interim report: 1 January-30 September 2021

Journey of growth continues
- Organic growth, M&A and synergies resulted in growth for the quarter of 33.6%

highlights

1 July-30 September

  • Net sales increased 33.6% to SEK 3,060.5 million (2,290.3). Organic growth was 5.5% and pro-forma organic growth was 10.2%
  • Gross profit increased 32.7% to SEK 786.1 million (592.3), with a gross margin of 25.7% (25.9)
  • Adjusted EBIT amounted to SEK 164.5 million (194.0), corresponding to an adjusted EBIT margin of 5.4% (8.5)
  • Operating income amounted to SEK 123.0 million (183.2), corresponding to an operating margin of 4.0% (8.0)
  • Cash flow from operating activities amounted to SEK -232.0 million (20.7)
  • Net profit for the period amounted to SEK 61.7 million (134.9)
  • Earnings per share amounted to SEK 0.50 (1.24) before dilution and SEK 0.49 (1.22) after dilution

1 January-30 September

  • Net sales increased 38.8% to SEK 9,178.8 million (6,613.6). Organic growth was 16.6% and pro-forma organic growth was 21.0%
  • Gross profit increased 43.9% to SEK 2,427.1 million (1,686.2), with a gross margin of 26.4% (25.5)
  • Adjusted EBIT amounted to SEK 626.3 million (506.7), corresponding to an adjusted EBIT margin of 6.8% (7.7)
  • Operating income amounted to SEK 553.1 million (474.4), corresponding to an operating margin of 6.0% (7.2)
  • Cash flow from operating activities amounted to SEK 223.6 million (773.6)
  • Net profit for the period amounted to SEK 376.9 million (328.4)
  • Earnings per share amounted to SEK 3.09 (3.02) before dilution and SEK 3.05 (2.98) after dilution

Key events during and after the period

  • M&A: Continued high acquisition rate

- On 9 June, BHG announced the acquisition of 92% of HYMA, our second largest acquisition to date. The transaction was completed on 21 July. HYMA was consolidated as of 1 August and will strengthen the DIY segment's leading Nordic online position by increasing its category depth and breadth and enable growth and cost synergies.
- On 2 September, BHG announced the acquisition of 80% of AH-Trading, one of Germany's leading e-commerce companies in garden furniture. AH-Trading was consolidated in the Home Furnishing segment as of 1 September. The acquisition has created the conditions for sales and purchasing synergies and will enable the company to establish a presence and infrastructure in Germany, which will provide a foundation for continued growth in the strategically important German market.

  • Growth initiatives: Progress on central organic initiatives

- Investments in technology platforms for product and customer data, automation of select parts of the warehouse infrastructure, and a first showroom and own last-mile deliveries in the Oslo region.
- The ultimate aim of all of these initiatives is to complement the customer offering and create a leading customer experience through further product range expansion and exchange between the operating units, geographic expansion of proprietary brands and by strengthening BHG's digital leadership and infrastructure.

This information is information that BHG Group AB 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 below, at 7:00 a.m. CEST on 28 October 2021.
 

CONTACT INFORMATION

For further information, visit www.wearebhg.com or contact:
Adam Schatz,President and CEO Jesper Flemme, CFO
adam.schatz@bhggroup.se     jesper.flemme@bhggroup.se
+46 (0)709 32 43 00    +46 (0)720 80 25 69
 

Johan Hähnel, Head of Investor Relations
johan.hahnel@bhggroup.se
+46 (0)70 605 63 34

CONFERENCE CALL IN CONNECTION WITH PUBLICATION OF THE Interim REPORT
Adam Schatz, President and CEO, and Jesper Flemme, CFO, will hold a conference call at 10:00 a.m. on Thursday 28 October in connection with the publication of the interim report. The call will be held in English. To participate, please call +46 (0)8 5664 2706 or visit https://tv.streamfabriken.com/bhg-q3-2021. The presentation will be available from the Group's website: https://www.wearebhg.com/investors/presentations/.
Quarterly reports on www.wearebhg.com
The full report for the period January-September 2021 and previous quarterly and year-end reports are available at https://www.wearebhg.com/investors/financial-reports/ (https://www.wearebhg.com/sv/investerare/finansiella-rapporter/)
 

ABOUT THE GROUP
BHG is the number 1 consumer e-commerce company in the Nordics. In addition to our Nordic operations, we also have a significant presence in the rest of Europe, as well as in selected markets outside of Europe. Our strong position in these markets makes us the largest European online pure-play within the home improvement space, meaning do-it-yourself and home furnishings. With an ecosystem of online stores, supported by physical destinations and services, such as last-mile deliveries and installation, we offer the market's leading range of well-known external and strong own brands, totalling close to 1 million unique products and encompassing a complete offering within DIY, leisure, furniture and furnishings.
The Group includes over 100 online sites - including sites like www.bygghemma.sewww.trademax.sewww.chilli.se, www.furniturebox.se and www.nordicnest.se - and over 70 showrooms. We are headquartered in Malmö, Sweden, with operations throughout Europe. Our share is traded on Nasdaq Stockholm, under the ticker "BHG."
The BHG brands employ more than 2,000 people, working every day to create the ultimate online shopping experience by combining an unbeatable product range with smart technology, leading product expertise and a broad range of services.

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