Year-end Report Byggmax Group 1 January - 31 December, 2023
Lower costs and strengthened balance sheet in a weak market
As expected, the last quarter of 2023, continued with a weak consumer market, where building materials were particularly hard affected. As a leading low price retailer, Byggmax continues to strengthen the position with development of the customer offering, lower costs and adjusted inventory levels. This, together with adjusted investment activity, resulted in a strengthened balance sheet. Byggmax is ready when the market returns.
"During 2023, we have reduced our costs by 10 percent, reduced inventories and adjusted investment activity. Byggmax is a more efficient business than at the beginning of the year." says Karl Sandlund, President and CEO
- Net sales amounted to SEK 998 M (1,170), representing a decrease of 14.8 percent.
- The Group's currency adjusted like-for-like sales decreased by 14.9 percent.
- The gross margin was 34.5 percent (35.2).
- EBITA amounted to SEK -77 M (-28), with an EBITA margin of -7.7 percent (-2.4).
- EBIT amounted to SEK -91 M (-42), with an EBIT margin of -9.1 percent (-3.6).
- Net profit for the period amounted to SEK -97 M (-60).
- Earnings per share totalled SEK -1.65 (-1.03).
- Cash flow from operating activities amounts to SEK -189 M (-127).
- Zero (four) store opened during the period and zero (zero) were closed.
- Byggmax Group has signed a three-year revolving credit facility of SEK 1,000 M with DNB and Handelsbanken.
- The Board of Directors propose a dividend for 2023 of SEK 0.50 (0.00) per share
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 31 January, 2024 at 08.00 a.m.