Q2 2024 Nelly Group AB (publ) Earnings Call Transcript
Key Points
- Net revenue grew by 8.8% to SEK314.1 million.
- Profit after tax increased to SEK26.7 million.
- Lowest return rate since the strategic initiative began, at 31.3%.
- Five consecutive profitable quarters.
- Strong cash position with SEK220 million and no short-term credit utilized.
- Conversion rate decreased year-on-year despite increased traffic.
- Higher marketing costs compared to last year, impacting profitability.
- Increased administration and IT costs.
- Sales growth primarily driven by flagship store, which is a small part of the business.
- Ongoing need for significant IT infrastructure investments.
Welcome to Nelly Group second-quarter report 2024. Today, I am pleased to present CEO Helena Karlinder-Ãstlundh and CFO Niklas Lingblom. (Operator Instructions) Now I will hand over to Helena Karlinder-Ãstlundh. Please go ahead.
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Thank you very much and welcome to the 2024 second-quarter investor presentation for Nelly Group. My name is Helena Karlinder-Ãstlundh and I will be presenting today's call together with Niklas Lingblom, CFO for Nelly Group.
Okay, let's start with a brief look at today's agenda. We will start with a short video introducing the Nelly business, a little bit about our history and some key stats. I will then provide some comments on the second quarter that we have just concluded before handing over to Niklas to take us through a more detailed financial summary. And as usual, we will then conclude with some questions and answers from you. I would also like to remind you at this point that you can send us your
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