Interim report: 1 January-31 December 2024

– The trend of a gradually improving sales performance continued in the fourth quarter, with growth and significantly stronger profitability compared with last year
“Our tactical priorities for 2024 were to improve our sales performance and strengthen our profitability. With the fourth quarter now behind us, I am delighted to report that we have achieved our targets. We gradually improved our sales trend during the year and achieved growth in the fourth quarter. We also improved our profitability year on year for the fifth consecutive quarter. We are pleased to say that we have delivered on our plan and are well positioned for 2025!” says Gustaf Öhrn, President and CEO.

Highlights
1 October-31 December

• Net sales increased 1.9% to SEK 2,883.8 million (2,828.8). Organic growth was 0.5%
• Adjusted gross profit amounted to SEK 733.8 million (718.1), corresponding to an adjusted gross margin of 25.4% (25.4)
• Adjusted EBIT amounted to SEK 106.7 million (54.7), corresponding to an adjusted EBIT margin of 3.7% (1.9)
• Cash flow from operating activities amounted to SEK 336.9 million (348.9)
• Earnings per share amounted to SEK -2.46 (-0.89) before dilution and SEK -2.46 (-0.89) after dilution

The Board of Directors proposes to the Annual General Meeting that no dividend be paid to the shareholders for 2024.

Key events during the fourth quarter and after the period

• On 22 November, it was announced that BHG had entered into an agreement with the 30% minority owners and founders of IP-Agency Finland Oy regarding BHG’s right to sell, and the founders’ corresponding right to buy, all of the shares in IP-Agency. The agreement was subsequently approved at an extraordinary general meeting of BHG on 18 December.
• On 13 January, it was announced that Johan Engström had been appointed as the new Head of the Value Home business area. Johan Engström joined the company from his role of CEO of Lekia, having previously served in various roles including CEO of the outdoor furniture company Brafab and Managing Director of Brio Toys. Johan Engström succeeded Christian Eriksson, who chose to leave BHG after having worked at the Group since 2013 in roles such as CEO of Home Furnishing Nordic AB and most recently as Head of Value Home. Christian Eriksson has ensured a controlled and orderly hand over to Johan Engström.
• On 16 January, it was announced that Nordic Nest Group will open its first physical store outside Sweden in 2025, in Hamburg, Germany under the Nordic Nest brand. Nordic Nest Group already has five physical stores in Sweden under

CONFERENCE CALL IN CONNECTION WITH PUBLICATION OF THE INTERIM REPORT
Gustaf Öhrn, President and CEO, and Jesper Flemme, CFO, will hold a conference call at 10:00 a.m. on Wednesday, 29 January in connection with the publication of the interim report.

The call will be held in English. Use the following link to participate in the webcast: https://bhg.events.inderes.com/q4-report-2024. There will be an opportunity to ask questions in writing at the webcast. If you wish to ask questions verbally during the conference call, please register via the following link: https://conference.inderes.com/teleconference/?id=5006603. Once you have registered you will receive a telephone number and conference ID to log in to the conference. There will be an opportunity to ask questions verbally at the webcast.
The presentation will be available from the Group’s website: https://www.wearebhg.com/investors/presentations/.

INTERIM REPORTS ON WWW.WEAREBHG.COM
The full interim report for the period January to December 2024 and previous interim and year-end reports are available at https://www.wearebhg.com/investors/financial-reports/