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Haypp Group defies trend; quarterly report shows solid financial performance and growth in turbulent e-commerce environment
2023-02-15 15:30
Earlier today, the 15th of February, Haypp Group announced financial and operating results for the fourth quarter. The interim report, widely covered in Swedish business media, displayed an increased turnover and net profit.
Dagens Industri notes Haypp Group’s strong performance through an increase in net sales by 18.6 per cent to SEK 700.5 million and an operating profit of SEK 16 million, corresponding to a margin of 2.3 per cent.
Swedish business news site Breakit reported that “Haypp managed to do what many other e-retailers failed to do in the fourth quarter. Both turnover and margins increased”. The full article can be found here (Swedish).
The Swedish and Norwegian leading trade magazines for e-commerce took note of the company’s successful turnaround in Norway for the fourth quarter. The stock market responded with a lift in share price by 3.5 per cent. Read the articles (Swedish) here and (Norwegian) here.
For more in-depth comments on the fourth quarter, CEO Gavin O’Dowd and CFO Svante Andersson held a webcast through financial hearings, which is available here.