Financial key figures and targets
Financial target
Haypp Group’s Board of Directors have adopted the following financial targets for 2028:
Sales
Revenue compound average growth rate of 18-25 per cent, at constant currency.
Profitability
Adjusted EBIT margin of 5.5 percent +/- 150 basis points.
Dividend policy
The Board of Haypp Group expects to reinvest cash flows into the Company’s continued expansion and does not expect to pay dividend.
PERFORMANCE MEASURES
| Amounts in SEK mn | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Last 12 months |
|---|---|---|---|---|---|---|---|---|---|
| Net sales | 460.1 | 802.4 | 1,729.2 | 2,266.8 | 2,598.8 | 3,165.7 | 3,679.8 | 3,712.0 | 4,029.8 |
| Gross profit | x | x | 224.9 | 248.7 | 328.5 | 402,6 | 552.7 | 683.4 | 744.5 |
| Adjusted EBIT | x | x | 38.3 | 41.5 | 58.5 | 78.2 | 134.5 | 155.8 | 130.2 |
| Profit/loss for the period | x | x | -27.8 | -27,6 | 20.1 | 5 | 45.0 | 58.7 | 16.6 |
Segment breakdown
| Amounts in SEK mn | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales per business unit: | ||||||||||
| Core markets | 631,9 | 660,4 | 661,7 | 703,0 | 707,6 | 698,0 | 699,5 | 756,4 | 799,2 | |
| Growth markets | 245,7 | 282,5 | 282,6 | 212,2 | 215,6 | 223,5 | 252,6 | 295,8 | 304,8 | |
| EBITDA per business unit: | ||||||||||
| Core markets | 52,8 | 55,6 | 58,0 | 59,6 | 72,9 | 65,9 | 64,6 | 70,4 | 75,5 | |
| Growth markets | -6,0 | -4,0 | -6,9 | -2,8 | -4,9 | -5,6 | -11,6 | -13,1 | -23,5 | |
| EBITDA margin per business unit (%): | ||||||||||
| Core markets | 8,4% | 8,4% | 8,8% | 8,5% | 10,3% | 9,4% | 9,2% | 9,3% | 9,4% | |
| Growth markets | -2,4% | -1,4% | -2,4% | -1,3% | -2,3% | -2,5% | -4,6% | -4,4% | -7,7% | |
| Active customers (thousand): | ||||||||||
| Core markets | 416 | 414 | 430 | 452 | 438 | 412 | 428 | 449 | 460 | |
| Growth markets | 133 | 178 | 188 | 119 | 115 | 124 | 147 | 181 | 192 | |
DEFINITIONS OF ALTERNATIVE PERFORMANCE MEASURES NOT DEFINED IN ACCORDANCE WITH IFRS
| Definition | Reason for use | ||
|---|---|---|---|
| Net sales growth, % | Change in net sales growth for the period. | Shows whether the Company’s business is expanding or contracting. | |
| Oranic sales growth, % | Change in net sales excluding businesses which have been acquired, sold or exited. | Shows whether the company’s business is expanding or contracting when excluding the effects from acquisitions, divestments or exits. | |
| Organic growth | Change in net sales excluding the impact of ex change rate movements and businesses acquired, divested or discontinued. Currency effects are calculated by translating current-period net sales using prior-period exchange rates. | Indicates whether the Company’s operations are expanding or con tracting when the effects of currency, acquisitions, divestments or dis continued operations are excluded. | |
| Constant currency | Change in net sales excluding the impact of exchange rate movements. | Indicates whether the Company’s operations are expanding or contracting when the effects of currency are excluded. | |
| Gross margin, % | Net sales less cost of goods for resale for the period, expressed as a percentage of net sales. | Indicates the Company’s operating profitability from its underlying business operations. | |
| Gross profit growth, % | Change in net sales for the period less the cost of goods for resale for the period. | Shows change in the profitability and the financial performance of the company’s business. | |
| EBIT margin | EBIT as a percentage of net sales. | Shows operating profit in relation to net sales and is a measurement of the profitability in the company’s operational business. | |
| Adjusted EBIT | EBIT excluding amortization and impairment losses on acquisition-related intangible asset and items affecting comparability. | Shows results of the Company’s operational business excluding amortization that arises as a result of accounting treatment of purchase price allocations in conjunction with acquisitions and items that affect comparison with other periods. | |
| Adjusted EBIT margin, % | EBIT margin adjusted for amortization and impairment losses on acquisition-related intangible assets and items affecting comparability. | Shows EBIT margin excluding amortization that arises as a result of accounting treatment of purchase price allocations in conjunction with acquisitions and items that affect comparision with other periods. | |
| EBITDA | EBIT excluding depreciation/amortization and impairment of assets. | Shows the ability of the Company’s operations to generate resources for investment and payment to capital providers. | |
| EBITDA margin, % | EBITDA as a percentage of net sales. | A profitability measurement that is used by investors, analysts and the Company’s management for evaluating the Company’s profitability. | |
| Adjusted EBITDA | EBITDA adjusted for items affecting comparability. | Shows EBITDA excluding items that affect comparison with other periods. | |
| Adjusted EBITDA margin, % | EBITDA margin adjusted for items affecting comparability. | Shows EBITDA margin excluding items that affect comparison with other periods. | |
| Adjusted operating expenses | Excludes non–recurring items from operating expenses. | Provides a more accurate view of the underlying operating perfor mance by excluding non–recurring costs, thereby improving the comparability of the Company’s financial results between reporting periods. | |
| Overheads | Total of marketing costs, fulfillment (personnel and other external costs connected to warehouse operations) and general and administrative costs | Represents the costs outside of the cost of goods for resale. | |
| Overheads, % | Overheads as a percentage of net sales. | Shows whether the Company scales and is able to generate higher revenue relative to its overhead base. | |
| Working capital | Current assets excluding current tax receivables and cash and cash equivalents, less accounts payable, other current provisions, and accrued expenses and deferred income. | Indicates the Company’s ability to meet short–term capital requirements. | |
| Net debt | Non-current lease liability, bank overdraft, current lease liability, liabilities to credit institutions and cash and cash equivalents. | Shows how much cash would remain if all debts were paid off. | |
| Net debt/ adjusted EBITDA, times | Net debt in relation to adjusted EBITDA. | Shows financial risk and is an indication of repayment capacity. | |
| Investments | Changes in tangible and intangible assets, including acquisitions of subsidiaries. | Indicates how the Company uses cash to acquire and dispose of long term assets and investments intended to generate future revenue and cash flows. | |
| Equity/Total asset ratio, % | Total equity in relation to total assets. | Indicates financial risk and the proportion of assets financed by equity. | |
| Items affecting comparability | Significant items affecting comparability, including significant consulting and advisory costs, acquisition, integration and restructuring costs, significant legal costs and bonus paid. It also includes write down and impairment connected to improvements made in the company infrastructure. | Refers to items that are reported separately as they are of a significant nature and are relevant for understanding the financial performance when comparing the profit/loss for the current period with the previous periods. | |
| Equity per share after dilution, SEK | Equity in relation to the average number of shares outstanding after dilution. | Indicates equity attributable to each share, taking into account dilution from potential shareholders. | |
| Cash flow from operating activities per share after dilution | Cash flow from operating activities in relation to the average number of shares outstanding after dilution. | Indicates the cash flow generated from operating activities per share, taking into account dilution from potential shareholders, available for use in the business going forward. | |
| Active consumers | Unique consumers who have made a purchase during the period. | Shows unique consumers who have made a purchase during the period. |