Odd Molly International AB (publ)
Stockholm, August 22, 2008
January 1 – June 30, 2008
• Net sales increased by 164% to SEK 127.8 M
(48.5)
• The gross profit margin rose by 58.5%
(56.4)
• Operating income increased to SEK 33.0 M
(5.3), corresponding to an operating margin of
25.9% (11.0)
• Income after tax amounted to SEK 23.8 M (3.7).
The net margin rose to 18.6% (7.6)
• Earnings per share amounted to SEK 4.1 (0.7)
(based on the average number of shares)
April 1 – June 30, 2008
• Net sales increased by 56% to SEK 21.8 M
(14.0)
• The gross profit margin was 58.7% (65.7). (Not
directly comparable since deliveries varied
between quarters)
• Operating income was SEK 0.1 M (0.0)
• Income after tax amounted to SEK 0.6 M (-0.1)
• Earnings per share amounted to SEK 0.1 (0.0)
(based on the average number of shares)
Events after the end of the period
• Odd Molly’s chief designer was awarded
Sweden’s most prestigious design prize in
August – the “Golden Button” awarded by the
“Damernas Värld” magazine
• Helena Christensen, the Danish super-model,
contracted to present Odd Molly’s face to the
world
• Fashion show in Copenhagen, and a new
website launched
• Sales of the 2009 spring and summer
collections commenced
[REMOVED GRAPHIC]
Comments by the CEO
In the first half of 2008, Odd Molly continued its rapid growth – and the second half of the year has started
with a number of exciting events.
Having invoiced the large part of our spring and summer collections during the first quarter, sales in the
second quarter consequently were lower. As mentioned earlier, with Odd Molly’s business model you get a
fairer view of our development on a semi-annual basis rather than by quarter. We are pleased, however, to
have limited our costs despite continuing to invest in future growth and strengthening the organization for
further expansion. The operating margin for the first six months was just over 25%, which we are very
pleased with and is proof of the potential of Odd Molly’s business.
We are continuing to strengthen the organization, including the addition of a new product manager this
autumn. Kristin Roos, at the moment working for J. Lindeberg, will take over the new position as head of the
production and design departments. Another element in our growth strategy is the improvements we are
planning to our market communications aimed at consumers to strengthen the brand in international
markets and support sales by local agents. This will take form of an international campaign during the
spring of 2009 as well as our new website, made entirely out of Odd Molly’s textiles.
On August 14, Odd Molly’s chief designer, Karin Jimfelt-Ghatan, received the prestigious “Golden Button”
fashion design award from the magazine Damernas Värld, the highest distinction a designer can receive in
Sweden. This is a fantastic recognition and an inspiration for the entire design team to improve our
collections. It is also a big support for the ongoing launch of our spring and summer collections for 2009,
particularly in Sweden, Odd Molly’s largest market.
Odd Molly’s major runway show for the upcoming summer and spring collections also took place in August
– this time at the Hotel d’Angleterre in Copenhagen. The hostess for the event, and model for Odd Molly’s
upcoming spring campaign, was Danish supermodel Helena Christensen. The show attracted a large
contingent of Nordic and international media. Signing up Helena as Odd Molly’s new face is part of the
effort to raise the brand’s image and strengthen our credibility among partners, retailers and customers.
During the second quarter, we signed an agreement with a distributor in the emerging market Dubai.
Moreover, we have initiated development of an eyewear collection.
We are fantastically proud of our development, the award we received and the attention we have attracted.
We are now focusing on further strengthening the company and product range, as well as supporting further
growth and profitability in the Nordic region and internationally. With successful sales of our spring and
summer collections for 2008, we are very confident about future orders for the spring/summer of 2009
despite dark clouds on the international business horizon.
Christina Tillman, CEO
For the interim report in full please see attached pdf document.About Odd Molly:
Odd Molly is a Swedish company which designs, markets and sells women’s fashions via external retailers all over the
world. The products are characterized by beautiful, personal and sensual designs, in combination with high quality and
a clear profile. Odd Molly products will be sold in the autumn via 1,600 retailers in 38 countries around the world, with
local representation in 23 countries. Odd Molly currently has 30 employees. Sales in 2007 totaled SEK 130.3 M, and
operating income amounted to SEK 18.5 M. Odd Molly’s profitable growth is based on creative design, consistent brand
promotion and a business model that permits expansion with limited capital requirements and minimum inventory risk.
Odd Molly’s share is traded on First North, and the company’s Certified Adviser is Swedbank.
The information in this interim report is information which Odd Molly International is liable to publish in accordance with
the Swedish Securities Market Act and/or the Swedish Financial Trading Instruments Act. This information was made
available for publication on August 22, 2008 at 08:00 CET.
Future information deadlines:
The January – September 2008 interim report will be published on October 28.
Order values for the spring/summer of 2009 will be announced on October 9.
For further information, please contact:
Christina Tillman, CEO, Odd Molly, tel. +46-(0)8-52228502 or cellphone +46-(0)733–106000.
Odd Molly International AB
Kornhamnstorg 6
SE-11127 STOCKHOLM
Sweden
Exch. +46-(0)8-55228500
www.oddmolly.com
Press photos may be downloaded from Odd Molly’s website at www.oddmolly.com/ “press”.
Odd Molly also publishes its own newsletter, reporting information about day-to-day developments. To subscribe, click “news/letter” on
www.oddmolly.com.