Boozt (BOOZT) investor relations material

Executive summary

• Achieved 4% constant currency revenue growth in Q1 2026, with March as the strongest month and momentum driven by a broader spring/summer assortment.

• Adjusted EBIT margin increased by 0.2pp year-over-year despite FX headwinds, supported by operational discipline and reduced discounting.

• Inventory levels were healthy and well-managed, with improved turnover and a ramp-up planned for H2 2026.

• Headquarters transition to Copenhagen completed in February, enhancing access to talent and supporting operational goals.

• Share buybacks totaled SEK 415 million completed, with a new SEK 200 million program announced, reflecting strong cash generation and disciplined capital allocation.

Financial highlights

• Net revenue grew 4% in constant currency (1% in SEK) to SEK 1,662 million, maintaining growth momentum.

• Boozt.com revenue up 6% in constant currency; Booztlet.com declined 3% as focus shifted to the main site.

• Adjusted EBIT margin improved to 2.5% (up 0.2pp), driven by reduced marketing spend and operational efficiency.

• Gross margin declined by 1.1pp to 36.8% due to FX and timing of other revenue.

• Free cash flow was negative in Q1 due to seasonal working capital needs; LTM free cash flow at SEK 754 million.

• Net cash position at quarter-end was SEK 239 million.

Outlook and guidance

• Revenue growth guidance for 2026 confirmed at 3%-8% in constant currency, with the higher end now more likely.

• Adjusted EBIT margin guidance raised to 5.6%-6.8% due to favorable FX.

• Growth expected to accelerate in H2 2026 with significant inventory ramp-up and commercial initiatives.

• Capex for 2026 expected at the high end of SEK 165-185 million, including fulfilment and HQ relocation investments.

• Outlook remains subject to geopolitical risks and potential consumer behavior impacts.