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2014-04-24

CDON Group AB: Interim report for 1 January - 31 March 2014

First Quarter

· Net sales were up 10%, amounting to SEK 1,133.2 million. Previous
year sales totalled SEK 1,032.4 million excluding divested operations
and SEK 1,051.1 million including divested operations

· Gross margin of 14.9% compared with 14.1% previous year, excluding
divested operations

· Operating profit amounted to SEK 0.1 million. Previous year
operating profit was SEK -4.2 million excluding divested operations
and SEK -7.8 million including divested operations

· Net income totalled SEK -4.2 (-17.3) million
· Basic earnings per share of SEK -0.04 (-0.21)
· Cash flow from operations improved by SEK 159.4 million and
amounted to SEK -167.7 (-327.1) million

CEO statement
Paul Fischbein, President and CEO, commented: "CDON Group has seen a
promising start to 2014; we are delivering a growth of 10 percent, a
positive operating profit in this seasonally weak first quarter and
an improvement in cash flow of almost SEK 159 million year-on-year.
Sports & Health continues to display a high growth rate at 30
percent, as well as stable margins. Home & Garden enjoyed strong
sales during the quarter, with an increase of 26 percent.

The transformation of CDON.com into a leading online department store
is continuing. Sales volumes for CDON.com Marketplace displayed good
growth in the first quarter, and CDON.com's operating profit, which
is included in the Entertainment segment, was slightly above
break-even.

Within Nelly.com, the previous quarter's launch in France was followed
up by launches in Belgium and Poland (after the end of the interim
reporting period). NLYman.com, an online boutique devoted exclusively
to the fashion-conscious man, was also launched.

After the first quarter we disclosed a pilot test of an in-house
payment solution for two of the Group's Swedish sites. Testing will
start in the coming months. We see the pilot test as an important
step to further improve the shopping experience while CDON Group can
a take a greater responsibility for the value chain.

All in all, CDON Group is in a good position to be able to gradually
increase investments in 2014 to fuel growth, mainly within the
Fashion and Sports & Health segments."

For further information, please visit www.cdongroup.com, or contact:
Paul Fischbein, President and Chief Executive Officer
Phone: +46 (0) 10 703 20 00

Investor and analyst enquiries:
Nicolas Adlercreutz, CFO
Phone: +46 (0) 70 587 44 88

Press enquiries:
Fredrik Bengtsson, Head of Communications
Phone: +46 (0) 70 080 75 04
E-mail: press@cdongroup.com, ir@cdongroup.com

About CDON Group
CDON Group is the leading e-commerce group in the Nordic region.
Established in 1999, the Group has expanded its product portfolio and
is now a leading e-commerce player in the Entertainment (CDON.com,
Lekmer.com), Fashion (Nelly.com, NLYman.com, Members.com), Sports &
Health (Gymgrossisten.com, Bodystore.com, Milebreaker.com) and Home &
Garden (Tretti.com and Room21.se) segments. In 2013, the Group
generated earnings of SEK 4.5 billion. CDON Group's share is traded
on the NASDAQ OMX Stockholm MidCap list under the CDON ticker symbol.

The information in this interim report is that which CDON Group AB is
required to disclose under the Securities Markets Act. This
information was released for publication at 08:00 CET on 24 April
2014.

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http://news.cision.com/cdon-group-ab/r/interim-report-for-1-january---31...
http://mb.cision.com/Main/53/9573463/236401.pdf

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