Sweden Buyersclub (BUY) Q2 2024 earnings summary

Executive summary

• Net sales grew 63% year-over-year to 18.1 MSEK, with strong growth in both core and new storefronts.

• Membership revenues increased 25% to 5.1 MSEK, reflecting a growing subscriber base.

• EBITDA reached breakeven at 0.0 MSEK, up from -0.9 MSEK last year, maintaining profitability at this level.

• EBIT improved to -0.8 MSEK from -1.6 MSEK, and net result after tax was -1.0 MSEK versus -1.7 MSEK.

• Bookhero.se contributed 3.1 MSEK to sales, highlighting successful storefront expansion.

Financial highlights

• Net sales: 18.1 MSEK (11.1 MSEK), up 63% year-over-year.

• Membership revenue: 5.1 MSEK (4.1 MSEK), up 25% year-over-year.

• EBITDA: 0.0 MSEK (-0.9 MSEK); EBITDA margin: 0.03% (-8.55%).

• EBIT: -0.8 MSEK (-1.6 MSEK); Net result after tax: -1.0 MSEK (-1.7 MSEK).

• Cash flow from operations: 0.0 MSEK (-0.2 MSEK); net cash position improved to -1.6 MSEK from -5.5 MSEK.

Outlook and guidance

• New financial targets for 2025: sales of 120–150 MSEK, EBITDA of 5–8 MSEK.

• 2026 targets: sales of 150–200 MSEK, EBITDA of 8–12 MSEK.

• Focus for H2 is on sustaining growth and achieving positive cash flow and net profit.

• July 2024 was the best month to date, with only December 2023 higher in sales.