Q1 2023 Desenio Group AB (publ) Earnings Call Transcript
Welcome everybody to Desenio Group's Q1 results presentation conference call. So with me today, I have our CFO, Kristian Lustin. Presentation materials are available on our website, and a Q&A session will follow at the end.
Compared to the previous quarter, the market during the first quarter of 2023 was stable, with customer behavior in line with our expectations. In this environment, it is gratifying to see how the measures to streamline operations that we completed in 2022 are now having a positive impact on profitability.
Net sales decreased by 9.5% to SEK260 million compared to the same period in 2022. The lower net sales is explained by the fact that the sales in January 2022 during the end of the pandemic was extremely strong compared to 2023. However, during the latter part of the quarter, sales were at the same level as the year before.
We invested in marketing in the quarter, which led to marketing expenses in relation to net sales increasing from 25.5% in Q1 last year to 28.5% in Q1 this year. The higher level is explained by
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