Snus retailer Haypp posted higher revenues in the third quarter compared to the same period last year, with adjusted operating profit rising marginally.
Net sales increased by 0.8 percent to SEK 952.1 million (944.2). Organic sales growth, excluding currency effects, was 3 percent.
The number of orders decreased to 1,230 thousand (1,281), with an average order value of SEK 689 (687).
Active customers totaled 574 thousand (618) at the end of the period.
Adjusted EBITDA amounted to SEK 53.0 million (50.8), with an adjusted EBITDA margin of 5.6 percent (5.4).
Operating profit was SEK 6.2 million (12.4), with an operating margin of 0.7 percent (1.3).
Adjusted operating profit reached SEK 33.4 million (33.1), with an adjusted operating margin of 3.5 percent (3.5).
Profit after tax was SEK 4.5 million (16.9).
"Haypp Group's third quarter demonstrates the strength of our operations, and the important U.S. market continues to develop positively. We remain fully convinced of the long-term value creation opportunities ahead of us and that the foundation for our growth is strengthening in line with the goals presented at our capital markets day," said Haypp CEO Gavin O'Dowd.
Haypp Group AB (publ) is a Sweden-based holding company that holds shares in companies with operations in e-commerce with nicotine products. The Group is active in e-commerce with nicotine products, primarily nicotine pouches and snus. The Group’s purpose is to provide healthier alternatives to the tobacco industry by selling nicotine pouches and snus. Its operations are conducted in both Europe and the United States through the e-commerce stores. Products are purchased from external suppliers and stocked before sale to consumers. Haypp Group has two operational segments, the Core Markets, which consists of the Swedish and the Norwegian markets, as well as the Growth Markets which includes Austria, Denmark, Finland, Germany, Switzerland, the United Kingdom and the United States.
