Odd Molly International AB (publ)
Stockholm, Sweden, April 29 april, 2015A strong quarter with increased growth and higher profitability
January 1 – March 31, 2015
· Net sales amounted to SEK 100.7 million (82.8), an increase of 22 percent.
· The gross profit margin was 54.2 percent (53.8).
· Operating profit amounted to SEK 9.5 million (3.5).
· Net profit amounted to SEK 7.6 million (2.5).
· Earnings per share before dilution amounted to SEK 1.33 (0.44).
Events during and after the quarter
· In February Odd Molly opened a store at Åhléns in Göteborg.
· After the end of the quarter the company took over responsibility for the Odd Molly store in Bromma Blocks, which had previously been managed by an external retailer.
· After the quarter two shop-in-shops were opened in Oslo, Norway and Villmanstrand, Finland, both managed by external retailers.
Comment from the CEO
It is wonderful when things look brighter – and for Odd Molly the positive trend continues. During the first quarter 2015 we increased sales significantly and delivered a very strong result. It has been a really good start to the new year and shows that the changes we are making are clearly having results, though we fully understand that it is a continuing process.
In accordance with our strategy, the share of sales we generate ourselves has risen and the trend surpassed our high expectations, not least with regard to Odd Molly’s web shop. During the quarter we also continued to roll out our retail concept in more stores and shop-in-shops in Sweden, Norway and Finland. Sales to external retailers are a stable base and our own retail operations continue to rise substantially and contribute greatly to the company’s profitability.
The new product groups, Home and Swimwear, are attracting plenty of media attention, which strengthens Odd Molly as a lifestyle concept and brand. The expanded product range is now in stores and selling well – even if volumes are small so far.
In other words, very positive signs and a strong quarter.
At the same time it is important to reiterate that Odd Molly still has large seasonal variations and should be analyzed over longer cycles than quarterly. The first quarter is generally our strongest, and this year was no exception. All our spring merchandise was shipped to retailers during the first quarter, so the second quarter will be a little thin. We are working diligently to reduce fluctuations between quarters, by increasing our own sales to the consumer.
In summary, Odd Molly is developing in the right direction. For me as a leader of a creative, publicly listed company that has to have both innovation and business acumen, it is comforting to have clear values to guide us. We will continue to create value – and inspire all the Mollys out there to realize their dreams.
Anna Attemark, CEO
For full report, please see attached PDF file.For further information, please contact:
Anna Attemark, CEO, phone: +46-8-522 28 502
Henrik Fredin, CFO, phone: +46-8-522 28 514
About Odd Molly
Odd Molly is a Swedish company that designs, markets and sells distinctive fashion. The company’s products are mainly sold through agents to retailers in around thirty countries around the world, which facilitates expansion with limited capital requirements. Odd Molly is responsible for selling to external retailers in the Scandinavian market and also manages eight of its own physical stores and its own web shop. Odd Molly has approximately 70 employees. The Odd Molly share is traded as of June 21, 2010 on Nasdaq Stockholm.
Scheduled information dates
The Annual General Meeting will be held on April 29, 2015.
The interim report for April-June 2015 will be released on August 20.
The interim report for July-September 2015 will be released on October 21.
The information in this press release has been published by Odd Molly International AB on April 29, 2015 at 8.00 am CET in accordance with the Securities Market Act and/or the Financial Instruments Trading Act.
Odd Molly International AB
SE-111 27 STOCKHOLM
Phone: +46 8 522 28 500
Press photos can be downloaded from Odd Molly’s website at www.oddmolly.com under “press”. Odd Molly also produces a newsletter with reports on daily operations. To subscribe, go to www.oddmolly.com