Interim Report Q1: A strong financial position enables us to remain flexible and further improve on our position

2023-05-03 07:45

Press release 3 May 2023

January – March 2023
• Net sales increased by 22 per cent to SEK 781.3 m (640.1). In constant currency, Net sales increased by 21 per cent.
• 41 per cent volume growth in the Nicotine pouches category during the quarter.
• The gross margin amounted to 12.0 per cent (11.7).
• Adjusted EBIT amounted to SEK 18.2 m (14.1), corresponding to an adjusted EBIT margin of 2.3 per cent (2.2).
• Operating profit totalled SEK 7.4 m (0.7), including items affecting comparability of SEK –0.9 m (–3.6).
• Profit/loss for the quarter to SEK 1.4 m (–1.9).
• Earnings per share before dilution amounted to SEK 0.05 (–0.07).
• Number of orders increased to 1,121 thousand (961) with an average order value of SEK 650 (635).
• Active customers amounted to 501 thousand (414) at the end of the period.

Net sales for the first quarter increased by 22 per cent to SEK 781 m (640). In constant currency, net sales
increased by 21 per cent. Gross Profit increased to SEK 94 m (75), corresponding to a gross margin of 12.0 per cent (11.7), driven by a strengthened position in the value chain both in the Core and Growth business unit as well as benefits of
scale. Adjusted EBIT for the first quarter increased to SEK 18 m (14). The increase was mainly due to higher gross margin, increased volume, as well as efficiency, partially offset by continued investments. The adjusted EBIT margin increased to 2.3 per cent (2.2). Operating profit for the first quarter amounted to SEK 7 m (1). Items affecting comparability amounted to SEK -1 m (-4).

“Driven by solid performance in both our Core and Growth Markets, the volume of nicotine pouches grew 41 per cent during the first quarter. We continue to make strong progress in the transformation to this rapidly growing product category, which now accounts for 45 per cent of the total volume. Net sales for the group increased by 21 per cent in constant currency during the quarter to SEK 2,740 m on an LTM basis. Inflationary pressure has so far had limited impact on our overall performance, and we see an increasing demand from consumers seeking safer nicotine alternatives at attractive prices”, says Gavin O’Dowd, President and CEO Haypp Group.

The full Q1 report is attached in its entirety to this press release and on the company´s website:

Haypp Group will hold a webcast conference call in English at 09.00 am CET today. Haypp Group will be represented by President and CEO Gavin O´Dowd and CFO Svante Andersson, who will present the interim report and answer questions. To participate or for further information –

For more information and contact
Markus Lindblad
Head of External Affairs
[email protected]

Niklas Alm
Head of Investor Relations
[email protected]

Before its publication, this information was inside information and is such that Haypp Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on 3 May 2023 at CET 07:45 am.

FNCA Sweden AB
Certified Advisor
+46 (0)8-528 00 399
[email protected]

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