SPLIT-UP BEING FINALIZED
THIRD QUARTER
· Net sales amounted to
- CDON increased external merchant's sales by 100 percent. Net sales increased by 82 percent for
- Nelly's sales in the Nordics decreased by 3 percent but was stable in local currencies in the Nordic. In line with the Nordic focus, sales decreased outside the region.
· Operating profit before depreciation and amortization improved to
- CDON's operating profit before depreciation and amortization increased to
- Nelly's operating profit before depreciation and amortization amounted to
· Operating profit improved to
· Profit after tax improved to -1.9 (-13.9) million and to
· Basic and diluted earnings per share including discontinued operations improved to
·
· On
FIRST NINE MONTHS
· Net sales amounted to
· Operating profit before depreciation, amortization, and impairment was
· Operating profit totaled
· Profit after tax amounted to
· Earnings per share after tax including discontinued operations amounted to
· Cash and cash equivalents amounted to
SEK million 2020 2019 2020 2019
July-Sep July-Sep Jan-Sep Jan-Sep
Net sales 460.7 540.8 1,535.8 1,742.1
Gross profit 133.8 118.0 375.4 388.9
Gross margin 29.0% 21.8% 24.4% 22.3%
Operating profit before depreciation 14.0 -0.8 -15.6 -5.9
Operating margin before depreciation 3.0% -0.2% -1.0% -0.3%
Operating profit 0.2 -13.9 -64.7 -49.2
Operating margin 0.0% -2.6% -4.2% -2.8%
UNBUNDLING BEING FINALIZED
During the quarter, we took several steps toward the goal of unbundling the Group into three independent listed companies.
Our shareholders previously owned shares in a conglomerate with limited synergies but will instead hold shares in three focused listed companies.
Strong development for CDON in the quarter
CDON increased sales from external merchants by 100 percent for the third quarter and 102 percent for the first nine months. This was driven by quick digitalization of commerce and the successful positioning of the marketplace as a significant sales channel for e-merchants.
CDON has a scalable business model with a strong cash flow. The company has exceeded expectations and is ready to continue growing outside
Focus on Nelly and name change to Nelly Group
Nelly's sales in the Nordics fell by 3 percent but was stable in local currency in the Nordics. Nelly increased its gross margin through higher efficiency, focus on the Nordics and lower return rates. The inventory turnover rate increased, which limited the need for working capital. The company continues to streamline its organization and is gathering its operations and logistics in Borås.
President and CEO
Conference call
Analysts, investors, and the media are invited to a conference call today at
US: +929 477 0630
The pin code to access this call is 709667
The presentation material and webcast will be published at www.qlirogroup.com.
For further information, please contact:
0736511363
ir@qlirogroup.com
Om
This information is information that
https://news.cision.com/qliro-group-ab--publ-/r/interim-report-for-january-1---september-30--2020,c3219566
https://mb.cision.com/Main/53/3219566/1321605.pdf
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