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Correction: Desenio Group AB (publ) – Quarterly Report January – March 2025

In Desenio Group AB's quarterly report for the period January – March 2025, which was published on April 30, 2025, at 07:00 CEST, incorrectly summarized figures were stated in the column "Apr-Mar 24/25" on page 3 and page 11. A corrected version of the quarterly report is attached to this press release.

During Q1, net sales decreased by 10.0% to SEK 206 million while the adjusted EBITA margin increased to 10.4% (9.7%). Cash flow from operating activities was SEK -32.8 (-19.1) million. Operating cash flow adjusted for bond restructuring was SEK -17.7 (-19.1) million.

FIRST QUARTER

Net sales decreased by 10.0% to SEK 206.0 (228.9) million.
Gross margin for the quarter was 83.7% (83.8%) and 84.8% adjusted for warehouse consolidation.
Adjusted EBITA was SEK 21.5 million (22.2), corresponding to an adjusted EBITA margin of 10.4% (9.7%).
Operating profit (EBIT) amounted to SEK -6.9 (19.0) million, corresponding to an operating margin of -3.4% (8.3%).
Profit before tax was SEK -20.2 (-3.9) million.
Cash flow from operating activities amounted to SEK -32.8 (-19.1) million.
Earnings per share was SEK -0.04 (-0.05).

Significant events during and after the period
On March 4, an extraordinary general meeting of Desenio Group resolved on and on March 21, a restructuring of Desenio's bonds and capital structure was completed. The restructuring included a 75% write-down of the bond and a debt-for-equity swap through a set-off issue of shares and led to a dilution effect of 95% for existing shareholders.

On April 23, an extraordinary general meeting of Desenio Group decided to dismiss the previous board and elect four new board members.

Webcast
A webcast - in English – will be held April 30 at 10.00 CEST. Fredrik Palm, CEO, and Johan Roslund, CFO, will present the Q1-Report. If you wish to participate via webcast please use the link below. Via the webcast you are able to ask written questions. https://desenio-group.events.inderes.com/q1-report-2025/register

If you wish to participate via teleconference, please register on the link: https://events.inderes.com/desenio-group/q1-report-2025/dial-in

Financial reports
The interim reports are available on the website: www.deseniogroup.com

About Desenio Group

Desenio Group is the leading e-commerce company within affordable wall art in Europe, with a growing presence in North America. We offer our customers a unique and curated assortment of about 9,000 designs as well as frames and accessories in 37 countries via 44 local websites and are steadily expanding to new markets.

Desenio Group is well positioned to build upon our dynamic growth model, including our proprietary technical platform, industrialized creative processes and efficient customer acquisition approach.

We are headquartered in Stockholm, Sweden, with fulfilment centres in the Czech Republic and USA. Our share is traded on Nasdaq First North Growth market, under the ticker “DSNO”.