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Pörssitiedote

A challenging quarter for the MQ Group

Lue tiedote
Fourth quarter (June 2018 - August 2018)  
  • Net sales amounted to SEK 445 million (467), down 4.8 per cent. Like-for-like sales declined 6.2 per cent (according to HUI Research like-for-like sales for the market as a whole declined by 3.9 per cent). 
  • The gross margin was 47.5 per cent (54.0). 
  • Operating profit/loss was SEK -8 million (33), which corresponds to an operating margin of -1.7 per cent (7.0). 
  • Profit/loss after tax for the period amounted to SEK -3 million (24), which equates to SEK -0.09 (0.69) per share after dilution.  
  • Cash flow from operating activities was SEK 31 million (43). 
Full year (September 2017 - August 2018) 
  • Net sales amounted to SEK 1,735 million (1,821), down 4.7 per cent. Like-for-like sales declined 6.0 per cent (according to HUI Research like-for-like sales for the market as a whole declined by 2.6 per cent). 
  • The gross margin was 55.6 per cent (57.1). 
  • Operating profit was SEK 51 million (124), which corresponds to an operating margin of 2.9 per cent (6.8).  
  • Profit after tax for the period amounted to SEK 41 million (94), which equates to SEK 1.17 (2.67) per share after dilution.  
  • Cash flow from operating activities was SEK 78 million (108). 
  • The Board proposes that no dividend be paid for the 2017/2018 financial year in order to create scope to strengthen primarily the company's digital development (previous year: SEK 1.75 per share). 
Events during the fourth quarter 
  • Ingvar Larsson took up his post as the new President and CEO of the MQ Group in August.  
  • MQ's store in Umeå moved from MVG to Utopia, with a new launch and a new store concept.  
  • The Tiger Jeans brand (women) was launched during the fourth quarter.  
  • The Blue Billie (women) and Enter brands were launched on MQ Shop Online. 
Events after the end of the reporting period 
  • MQ has remodelled its store in Stenungsund in line with a new store concept. 
  • As planned, MQ has closed its store on Tullgatan, Malmö. 
  • MQ and Joy have opened new stores in Kristianstad at C4 Shopping. Joy accordingly closed its store in Kristianstad City.  
  • MQ and Joy have opened new stores in Mölndal Galleria. Joy accordingly closed its store in Mölndal.  
  • Joy has been nominated in two categories - Omnichannel of the Year and Store Retailer of the Year - in the Habit Fashion Show 2018.  

For further information, please contact: 
Ingvar Larsson, President and CEO: +46 (0)31 388 80 70 
Tony Siberg, Deputy CEO and CFO: Tel: +46 31 388 84 01 

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