Interim Report Q2: Continued positive sales and profit development
Press release 9 August 2024
April – June 2024
• Net sales increased by 23 per cent to SEK 942.8 m (768.8). In constant currency, net sales increased by 22 per cent.
• 43 percent volume growth in the nicotine pouch category during the quarter.
• The gross margin amounted to 14.3 per cent (12.9).
• Adjusted EBITDA amounted to SEK 51.5 m (33.5), corresponding to an adjusted EBITDA margin of 5.5 per cent (4.4).
• Adjusted EBIT amounted to SEK 34.4 m (20.4), corresponding to an adjusted EBIT margin of 3.7 per cent (2.7).
• Operating profit totalled SEK 9.6 m (-3.9), including items affecting comparability of SEK -14.8 m (-14.3).
• Profit for the quarter amounted to SEK 0.0 m (0.4).
• Earnings per share before dilution amounted to SEK 0.00 (0.02).
• Number of orders increased to 1,252 thousand (1,069) with an average order value of SEK 699 (676).
• Active customers were 591 thousand (486) at the end of the quarter.
Net sales for the second quarter increased by 23 per cent to SEK 942.8 m (768.8). In constant currency, net sales increased by 22 per cent. Gross Profit increased to SEK 135.2 m (98.8), corresponding to a gross margin of 14.3 per cent (12.9). Adjusted EBIT for the second quarter increased to SEK 34.4 m (20.4). The increase was mainly due to the higher gross margin, increased volume as well as efficiency gains, partially offset by continued investments into additional capabilities. The adjusted EBIT margin increased to 3.7 per cent (2.7).
"Haypp group continued to show a very strong performance in the second quarter with YoY Nicotine Pouch volume growth of 43%. This is accelerating from prior quarters as the category continues to thrive in our Growth markets due to the increasing appetite for risk reduced products. While the category experienced some turbulence in the USA during the quarter, we were well positioned and our volume grew around 70%. The investments in our business operations have continued to deliver value with an increase of 68% in our adjusted EBIT. This robust growth, over many years shows how robust our business is, irrespective of the economic environment.", says Haypp Groups CEO Gavin O'Dowd.
The full Q2 report is attached in its entirety to this press release and on the company´s website: https://hayppgroup.com/investor-relations/reports-and-presentations/
Haypp Group will hold a webcast conference call in English at 09.00 am CEST today. Haypp Group will be represented by President and CEO Gavin O´Dowd and CFO Peter Deli, who will present the interim report and answer questions. To participate or for further information - https://ir.financialhearings.com/haypp-group-q2-report-2024
For more information and contact
Markus Lindblad
Head of External Affairs:
+46(0)708153983
markus.lindblad@hayppgroup.com
Erik Bloomquist
Head of Investor Relations:
+44(0)7525421916
erik.bloomquist@hayppgroup.com
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