Brief: XXL Q2 EBITDA Down At NOK 392 Mln

Xxl AS

15/07/2021 06:17

July 15 (Reuters) - XXL ASA  XXLA.OL :
    * SOLID RESULTS DESPITE CLOSED STORES AND PRODUCT
AVAILABILITY
    * Q2 OPERATING REVENUE OF NOK 2 420 MILLION (NOK 2 865
MILLION) -
DEVIATION FROM LAST YEAR MAINLY EXPLAINED BY STORE CLOSURES AND
PRODUCT AVAILABILITY
    * Q2 EBITDA OF NOK 392 MILLION (NOK 404 MILLION)
    * SEVERAL TEMPORARILY STORE CLOSURES AND DELAYED DELIVERY OF
INCOMING GOODS HAMPERED SALES IN QUARTER AND TOTAL OPERATING
REVENUE ENDED AT NOK 2.4 BILLION (NOK 2.9 BILLION)
    * LOST SALES IN QUARTER WERE COMPENSATED THROUGH IMPROVED
GROSS
MARGINS AND GOOD COST CONTROL, DELIVERING A SOLID EBITDA OF NOK
392 MILLION (NOK 404 MILLION)
    * BOARD OF DIRECTORS PROPOSE AN EXTRAORDINARY DIVIDEND OF
NOK 500
MILLION TO BE PAID OUT DURING H2 2021
    * XXL'S TARGET AND GOAL GOING FORWARD IS TO OVER TIME GAIN
MARKET
SHARES IN ALL MARKETS, AND CONTINUE GROWTH IN E-COMMERCE CHANNEL
    * XXL TARGETS TO STABILIZE GROSS MARGIN ABOVE 39 PER CENT
    * XXL WILL CONTINUE TO INVEST IN OPERATIONAL EFFICIENCY,
SELECTIVE
NEW STORE OPENINGS, E-COMMERCE PLATFORM, EXISTING STORES,
INFRASTRUCTURE AND IT
    * TOTAL CAPEX FOR XXL GROUP IN 2021 IS EXPECTED TO BE AROUND
NOK
250-300 MILLION
    * GOING FORWARD XXL EXPECTS PACE OF STORE ROLL-OUT TO BE 3-5
NEW
STORES PER YEAR
    * XXL HAS SIGNED 2 NEW LEASE AGREEMENTS FOR STORE OPENINGS
IN 2021
WHERE OF 1 IN SWEDEN AND 1 IN AUSTRIA
    * AT SAME TIME XXL WILL BE DOWNSIZING SEVERAL EXISTING
STORES

Source text for Eikon:  ID:nObiwR8hka 
Further company coverage:  XXLA.OL 

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