On track to build the number one shopping destination in the Nordic region
SECOND QUARTER FOR THE GROUP
- Gross merchandise value (GMV) for CDON Marketplace (3P) increased by 1% to SEK 437.4 (433.2) million
- Net sales for CDON Marketplace increased by 22% to SEK 50.5 (41.2) million. CDON Retail net sales decreased according to plan by 29% to SEK 55.1 (77.6) million due to the process of reducing sales of own inventory
- Gross margin increased by 12.7 percentage points to 51.3% (38.7%)
- Profit/loss before depreciation and amortization amounted to SEK -20.2 (-18.8) million
- Profit/loss for the period amounted to SEK -26.7 (-23.7) million
- Earnings per share amounted to SEK -4.05 (-3.95)
FIRST HALF-YEAR FOR THE GROUP
- Gross merchandise value (GMV) for CDON Marketplace (3P) increased by 2% to SEK 832.6 (812.9) million
- Net sales for CDON Marketplace increased by 16% to SEK 95.2 (82.0) million. CDON Retail net sales decreased according to plan by 31% to SEK 115.5 (168.3) million due to the process of reducing sales of own inventory
- Gross margin increased by 12.0 percentage points to 49.5% (37.5%)
- Profit/loss before depreciation and amortization amounted to SEK -47.3 (-27.9) million
- Profit/loss for the period amounted to SEK -60.6 (-37.6) million
- Earnings per share amounted to SEK -9.39 (-6.26)
Comments from CEO, Peter Kjellberg
"The initiated transformation journey toward becoming the number one shopping destination in the Nordic region continues. In the previous interim report, we introduced several activities to stimulate our growth, and halfway through the year we are starting to see the effects.
For the last two quarters we have seen a growth in CDON marketplace GMW, in total 2%. During the second quarter, CDON marketplace GMV grew by 1% compared to the same period last year. We continue to perform better than the e-commerce market in general, which is declining in several categories compared to the same period last year.
The number of active shoppers has increased in comparison to the last two quarters. The number of active Nordic merchants continues to grow at a steady pace. During the second quarter, we reached a record high. June was an especially strong month, with a high number of newly signed merchants.
We are now taking the next step in our strategic development, to further strengthen our growth ambitions and fulfilling our vision of becoming the number one shopping destination in the Nordics.
We look forward to an eventful second half of 2022, as we continue to lay a solid foundation for profitable growth."
Analysts, investors, and the media are invited to a conference call today at 14:00 CEST. To participate in the conference call, please dial:
Sweden (Sverige): +46 856 642 692
United Kingdom: +44 3333 009 272
United States: +16 467 224 903
Link to Webcast: https://tv.streamfabriken.com/cdon-q2-2022
The presentation material and the webcast are published on: https://investors.cdon.com/en/investor-relations/presentations/
This information is information that CDON AB is required to disclose under the EU Market Abuse Regulation. The information was released for publication through the agency of the above contacts at 13:00 CEST on July 14, 2022.
For more information:
CDON was founded in 1999 and is now the biggest marketplace in the Nordic region. Customers can choose to buy and compare prices for millions of products at CDON, by far the widest range of all Nordic e-retailers. Over 1,500 merchants use CDON's platform and technology to increase their sales. This gives CDON a wide range of products within, movie, music, computers, games, office supplies, books, toys, consumer electronics, household appliances, sport, outdoor, beauty care, fashion, shoes, computers, and computer products. CDON is listed on Nasdaq First North Growth Market with the abbreviation CDON.
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