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Interim Report Q1: The transformation towards nicotine pouches running according to plan
2022-05-04 07:45
Press release 4 May 2022
January-March 2022
• Net sales increased with 16 per cent to SEK 640 m (553). Organic sales growth was 6 per cent.
• During the quarter, Haypp Group recorded 53 per cent year-on-year volume growth in the Nicotine Pouches category,
and the category accounted for about 40 percent of the volume in the first quarter.
• The gross margin amounted to 11.7 per cent (11.9).
• Adjusted EBIT amounted to SEK 14.1 m (10.3), corresponding to an adjusted EBIT margin of 2.2 per cent (1.9).
• Operating profit totalled SEK 0.7 m (3.4), including items affecting comparability of SEK -3.6 m (-2.4).
• Earnings per share before dilution amounted to SEK -0.07 (-0.01).
• Cash flow from operating activities amounted to SEK 90.7 m (6.5), and Net debt/adjusted EBITDA to -0.2x (1.2).
• Active customers increased by 25 per cent to 414 thousand (331) at the end of the period.
• Number of orders increased to 961 thousand (795) with an average order value of SEK 635 (632).
“The growing consumer demand for less harmful nicotine products as well as favourable regulatory development in several of Haypp Group’s Growth markets will be two major drivers of Haypp Group’s future growth. The volume of nicotine pouches grew by 53 percent during the first quarter, whereof 48 percent organically, corresponding to close to 40 percent of the total volume in the quarter. The transformation to this rapidly growing product category runs according to plan, and we experienced a very strong year-on-year growth across all markets, except for Norway. We will ride on the wave of increasing demand, growth continues to be prioritized over profitability, and resources as well as investments will be redirected towards the markets which shows favourable conditions such as DACH, UK and US as well as Haypp Group’s Core markets Sweden and Norway”, says Gavin O’Dowd, President and CEO Haypp Group.
Haypp Group will hold a webcast conference call in English at 09.00 am CEST 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 – https://financialhearings.com/event/43627
For more information and contact
Markus Lindblad
Head of External Affairs:
+46(0)708153983
[email protected]
Niklas Alm
Head of Investor Relations:
+46(0)708244088
[email protected]
FNCA Sweden AB
Certified Advisor
+46 (0)8-528 00 399, [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 4 May 2022 at 07:45 a.m. CEST.
Haypp in brief
The Haypp Group is spearheading the global transformation from smoking to risk-reduced product alternatives. With origins in Scandinavia, our extensive experience from pioneering markets in smoke free alternatives, as well as being a leader in the e-commerce sector, is now bringing our vision to a global scale. With ten e-commerce store brands, the Haypp Group is present in seven countries where we served more than 680,000 active consumers during 2021.