Boozt AB (OTCPK:BOZTY)

$ 11.415 -0.586 (-4.88%) Market Cap: 746.08 Mil Enterprise Value: 776.10 Mil PE Ratio: 33.17 PB Ratio: 2.84 GF Score: 92/100

Q2 2019 Boozt AB Earnings Call Transcript

Aug 15, 2019 / 07:30AM GMT

Release Date Price: $6.1 (+0.83%)

Transcript

Operator

Ladies and gentlemen, welcome to the Boozt Q2 2019 report. Today, I'm pleased to present CEO, Hermann Haraldsson; and CFO, Allan Junge-Jensen. (Operator Instructions) Speaker, please begin.

Hermann Haraldsson;publ;Co;Founder;Group CEO

Boozt AB

()--&

Good morning all and welcome to our Q2 presentation. If we go to the first slide, the key highlights. I would, yes, just like to mention that we believe that it's a solid Q2 that we finished. The market is challenging and -- but our customers are happy and happy to work with us. So we think it's quite solid with 26% in net revenue growth, which was supported by Boozt with 21% and then Booztlet, impressively 156% growth, a very strong growth by Booztlet.

Another good thing is that the average order value was unchanged as we saw that return levels, they normalized in Q2 compared to Q1. And as expected, we have seen that the gross margin has declined, driven by quite a promotional-driven market. We have had high inventory levels in the

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