Boozt (BOOZT) Q4 2024 earnings summary

Executive summary

• Revenue grew 4% in Q4 and 6.3% for FY 2024, at the low end of guidance, amid challenging market conditions, with Booztlet.com up 36% in Q4 and Boozt.com down 2%.

• Adjusted EBIT margin improved to 5.7% for the year and 9.9% in Q4, mainly due to a favorable Norwegian customs ruling.

• Over 40% of sales now come from non-fashion categories, supporting resilience and diversification.

• Booztlet.com active customers rose 23–26% to over 1 million, while Boozt.com active customers grew 2%.

• Share buyback program repurchased SEK 162 million in 2024, with a total plan of SEK 800 million.

Financial highlights

• Q4 2024 net revenue: SEK 3,107 million (+4% YoY); FY 2024: SEK 8,244 million (+6.3% YoY).

• Q4 2024 adjusted EBIT: SEK 307 million (+33% YoY); FY 2024: SEK 473 million (+18% YoY).

• Q4 2024 profit: SEK 267 million (+86% YoY); FY 2024: SEK 342 million (+47% YoY).

• Q4 gross margin stable at 37.5%; FY gross margin 39.0% (-0.2pp YoY).

• Net cash at year-end: SEK 795 million, down from SEK 1,040 million.

Outlook and guidance

• 2025 revenue expected to grow 4–9%, with adjusted EBIT margin between 5.8% and 6.5%.

• Capex for 2025 guided at SEK 170–200 million, with SEK 75 million for warehouse expansion.

• Profitability to benefit from efficiency gains and staff reductions, offset by higher marketing investments.

• No significant improvement in consumer sentiment assumed in guidance; upside possible if sentiment improves.

• Long-term ambition: 10% Nordic market share and adjusted EBIT margin above 10% from FY 2028.