Boozt AB (OTCPK:BOZTY)

$ 12.2 0 (0%) Market Cap: 795.44 Mil Enterprise Value: 821.56 Mil PE Ratio: 39.61 PB Ratio: 3.00 GF Score: 89/100

Q2 2024 Boozt AB Earnings Call Transcript

Aug 16, 2024 / NTS GMT

Release Date Price: $10.6

Transcript

Hermann Haraldsson

Boozt AB - Group Chief Executive Officer, Co-Founder

Good morning, everyone, and welcome to our Q2 call 2024.

Let's go to the first slide and it will likely not come as a surprise to you that the market remained challenging in the second quarter, but still we managed to increase revenue with 11% and maintain a very solid margin. The growth for the quarter was driven by a good reception of the Spring/Summer collection, which was certainly helped by the improvement in the weather that we saw in the Nordics during April.

The warm weather supported both Boozt.com and Booztlet, which both did well, growing revenue with 10% and 13% in the quarter. The growth was, to a large degree, driven by an increase in new customers and looking isolated at the quarter, almost 300,000 new customers bought from our two shops, which I believe speaks volumes of our ability to fare well under difficult circumstances. This also indicates, in our view, that even though consumers are holding back, when they buy, they buy online. It's very encouraging to see that our growth has been driven by an

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