Online Brands Nordic (OBAB) Q3 2024 earnings summary

Executive summary

• Achieved record net sales of 90.4 MSEK in Q3 2024, up 21% year-over-year, with e-commerce sales rising 31% to 66.7 MSEK.

• EBITDA doubled to 11.2 MSEK (12.3% margin), and net income reached 4.8 MSEK versus a loss last year.

• All portfolio companies grew, with Trendcarpet up 35% and strong market share gains across segments.

• Strategic investments in geographic expansion, assortment, and digital marketing drove growth.

Financial highlights

• Net sales: 90.4 MSEK (74.7), up 21% year-over-year; organic growth also 21%.

• EBITDA: 11.2 MSEK (5.1), margin 12.3% (6.8%); EBIT: 6.3 MSEK (0.2).

• Net income: 4.8 MSEK (-1.6); EPS: 0.21 SEK (-0.07).

• Cash flow from operations: 1.4 MSEK (-6.3); net debt at period end: 33.8 MSEK (38.4).

• Gross margin: 59.1% (61.0%), impacted by seasonal product mix.

Outlook and guidance

• No sales or earnings forecasts provided for the full year 2024.

• Focus remains on profitable growth in both Brand and Non-Brand segments, leveraging synergies and efficiency.