Strong cash flow and confirmed outlook

Boozt AB's Half year report, January 1 - June 30 2025

Financial performance

• Net revenue in Q2 2025 remained flat in local currency; however, in reported currency revenue declined 3% to SEK 1,823 million (versus SEK 1,872 million in Q2 2024). The fashion and lifestyle market in the Nordics faced increasing headwinds during the quarter, as consumer demand continued to soften. Despite this, revenue on Booztlet.com increased by 14% (17% in local currency), driven by continued stock clearance. Boozt.com saw a 6% revenue decline (or 3% in local currency).
• While April and May were weak, with May experiencing the largest decline, trading significantly improved in June, with positive growth returning across all categories except Women's fashion.
• Approximately 300,000 new customers shopped across Boozt.com and Booztlet.com in Q2 2025, demonstrating the continued attractiveness of the platforms. Looking at active customers over the last 12 months, Booztlet.com saw a 19% increase, while Boozt.com's active customer base remained stable compared with Q2 2024.
• Adjusted EBIT was SEK 62 million (92) resulting in an adjusted EBIT margin of 3.4% (4.9%). The decline was primarily driven by a lower gross margin impacted by the clearance sales on Booztlet.com and the strengthening of the SEK. This was partially offset by improved fulfilment and admin cost ratios.
• Free cash flow in Q2 2025 significantly improved to SEK 186 million (from SEK 90 million in Q2 2024). Cash flow in the period benefited from effective inventory clearance during the quarter, as well as a repayment to Boozt related to wrongfully paid customs in Norway. This was partially offset by lower accounts payable.
• During Q2 2025, Boozt repurchased 1,099,000 own shares (or 1.7% of the total share capital) for SEK 94 million as part of the programme.

Outlook

• The outlook for 2025 is unchanged, with expected net revenue growth of 0-6% and an adjusted EBIT margin of 4.5-5.5%.
• For the full year 2025, free cash flow is now expected to be minimum SEK 500 million, primarily driven by the continued normalization of inventory levels.

Business update

• The Board of Directors has today given the mandate to initiate the process to expand the current share buyback programme to a total of SEK 300 million. The programme was originally launched in the quarter with an initial value of SEK 200 million.
• Following the AGM resolution on April 24, 2025, Boozt cancelled 2,680,517 repurchased ordinary shares, representing 3.9% of the total share capital.
• ESG: For the third year running, Boozt received the highest AAA rating in the 2025 MSCI ESG Ratings, affirming its global top-tier status and commitment to ESG reporting.
• Michael Bjergby has been appointed as the new Chief Financial Officer of the company and will assume the position on 1 September 2025.

CEO comment
"The first six months of the year presented a challenging market, particularly with softer consumer demand in our major Nordic markets. Despite these conditions, our revenue in the first half was slightly up in local currency, which I believe is a testament to the resilience of our model. Our disciplined focus on cost efficiency and effective inventory management significantly improved free cash flow, reinforcing our strong financial position. We are pleased with how we have navigated this difficult period and are now well-prepared and in a strong position for the second half of the year."- Hermann Haraldsson, CEO & Co-founder

Telephone conference / webcast
Boozt's Group CEO, Hermann Haraldsson, and Group CFO, Sandra Gadd, will present the Q2 report at a telephone conference/audiocast at 09.30 CET on Friday, August 15, 2025. The presentation will be held in English and will be followed by a Q&A session.
If you wish to participate via webcast please use this link.
If you wish to participate via teleconference please register on this link. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
For presentation material, please visit Boozt's website.

For additional information, please contact:

Magnus Thorstholm Jensen /Investor Relations / Phone: +45 30 50 44 02 / Email: [email protected] Kirkeskov Riis / Media Relations / Phone: +45 53 62 54 60 / Email: [email protected]

This information is information that Boozt is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-08-15 08:00 CEST.