More stores, lower costs and significantly reduced net debt
"The first quarter of 2024 developed as expected. Byggmax's focus on strengthening the customer offering, efficient operations, and optimizing inventory levels gave effect. In addition to lower costs, net debt is significantly reduced versus the corresponding quarter last year. With more stores, lower costs, and an optimized inventory, Byggmax is ready for a new season".
Karl Sandlund, President and CEO
The first quarter of 2024- Net sales amounted to SEK 866 M (952), representing a decrease of 9.0 percent.
- Exchange rate effects had a negative impact on net sales of 0.5 percent. The Group's like-for-like sales decreased by 9.1 percent.
- The comparable costs, i.e. costs excluding new and closed stores, decreased SEK 32 M (25).
- EBITA amounted to SEK -148 M (-125), with an EBITA margin of -17.1 percent (-13.2).
- Two (two) stores opened in Sweden during the period.
This is information that Byggmax Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on 23 April, 2024 at 08.00 a.m.