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Hövding Sverige AB: Interim report Q3 2021

Hövding Sverige AB: Interim report Q3 2021

HÖVDING INTERIM REPORT Q3 2021
July – September 2021

Path towards profitability continues

HIGHLIGHTS IN THE QUARTER

  • Number of Hövding helmets sold 23,323 (28,586) (-18%)
  • Net sales TSEK 41,228 (45,312) (-9%)
  • Gross margin 35% (24%)
  • EBITDA TSEK –959 (-6,688)
  • Profit before tax TSEK –1,779 (-8,097)
  • Profit per share SEK -0,06 (-0,34)
  • Cash flow before changes in working capital TSEK -1,344 (-7,907)
  • Cash flow after changes in working capital TSEK -11,256 (-3,096)

CEO Fredrik Carling commented:

“Throughout 2021 our focus has been to position ourselves for stronger expansion in 2022. Continued growth, improved gross margin and cost control are the main components of this plan. Year to date, vs LY, we have 12% growth in net sales, 50% growth in gross proft while reducing cost of operations with -15%. In some ways a year of transition to ensure that as we expand more aggressively, we do it in a sustainable manner.

Sweden and Denmark will continue to play an important role in this expansion. They are still markets with further growth potential. Germany, where we to some extent have been restricted in growth, will be the key market for us in 2022 and beyond. With a new strong partner and ability to engage more directly we aim for this market to overtake sales of all other markets in the medium-term future. We also anticipate to see the result of our increased efforts in France to start bearing fruit as we enter next year.

In doing all of this we continue to be reminded of our purpose. Protecting cyclist’s lives. We play our part in the wave of urban cyclists on the increase everywhere. Keeping them safe with the world´sbest head protection available.”

INFORMATION
Please direct any queries regarding the content of this interim report to:
CEO Fredrik Carling
Ph: +46 40 236868
fredrik.carling@hovding.com

Hövding Sverige AB (publ)
Bergsgatan 33
214 22 Malmö
+46 40 236868

Hövding Sverige AB (publ) is listed on the Nasdaq First North Growth Market since 2015.
Västra Hamnen Corporate Finance AB is Hövding’s Certified Advisor.
E-mail: ca@vhcorp.se, tel: +46 40 200250

The information herein is provided by Hövding Sverige AB (publ) in accordance with its duties of public disclosure as stipulated by the EU Market Abuse Regulation. The information was made public by Fredrik Carling, CEO of Hövding Sverige AB (publ), on 22 October 2021 at 08.30am CET.

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