Improved profitability and strengthened balance sheet
"Byggmax deliver improved profitability and strengthened balance sheet during the important second quarter despite a continued cautious market. This year's focus on ensuring efficient operations and reducing net debt have a significant impact. At the same time, work to further improve the customer offering continues."
Karl Sandlund, President and CEO
The second quarter of 2024
- Net sales amounted to SEK 2,082 M (2,203), a decrease of 5.5 percent.
- Exchange rate effects had a positive impact on net sales of 0.2 percent. The Group's like-for-like sales decreased by 6.7 percent.
- The comparable costs, i.e. costs excluding new and closed stores, decreased SEK 30 M (59).
- EBITA amounted to SEK 184 M (172), an EBITA-margin of 8.8 percent (7.8).
- Two (four) stores opened in Sweden and Norway during the period.
- Byggmax Group communicated updated financial targets on May 29, 2024.
This is information that Byggmax Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication on July 12, 2024 at 8 a.m CET.
For further information, please contact:
Helena Nathhorst, CFO
Mobile: +46 76 119 00 40
E-mail: helena.nathhorst@byggmax.se
Karl Sandlund, President and CEO
Mobile: +46 76 119 01 84
E-mail: karl.sandlund@byggmax.se
About Byggmax Group
Byggmax is a leading Nordic retail chain offering construction materials and do-it-yourself products with a well-developed online commerce section and 209 physical stores in Sweden, Norway, Finland and Denmark. Byggmax offers straightforward and excellent value products of high quality at the best price. Byggmax wants to be close to its customers and offer customers the know-how to improve their homes, regardless of budget or previous experience. Included in Byggmax Group is Skånska Byggvaror, a Nordic e-commerce company with self-developed compound products for home and garden, such as patio rooms and green houses. The group's annual revenue 2023 was SEK 6.1 billion and the corporate group is listed on Nasdaq since 2010.
