Conversion to digital channels pay off – substantial pick-up in results in the quarter

Odd Molly International AB (publ)

Stockholm, Sweden, May 7, 2020

JANUARY 1 – MARCH 31 2020

  • Total operating revenue decreased 22 percent to SEK 67.0 million (86.2).
  • The gross profit margin was 52.3 percent (49.3).
  • The operating loss was SEK -5.9 million (-17.6).
  • The net loss amounted to SEK -7.3 million (-19.2).
  • Earnings per share amounted to SEK -0.20 SEK (-2.27).


  • On January 7 a total of 22,903,427 new shares were registered, which were issued in connection with the three new share issues during the end of 2019. The total number of shares thereafter amounts to 37,768,982 and the share capital amounts to SEK 3,776,898.
  • Underlying costs decreased in the quarter by SEK 12 million in line with the action plan to gradually generate savings of approximately SEK 75 million on a full-year basis with full effect in 2020. Accumulated savings amount to approximately SEK 57 million. Efforts to identify additional actions with the aim of counteracting the profitability and cash flow impact following the Corona pandemic are ongoing.
  • In April, the company applied for and was granted support within the framework of the Swedish Government crisis package in the form of suspended tax payments and short-time work allowance. Short-time work allowance was implemented as of April 1 and therefore had no financial impact in the first quarter.


The outbreak of the corona virus Covid-19 and its spread of infection affects Odd Molly’s operations, mainly in the form of reduced traffic to the company’s eight own physical stores and to retailers’ stores, as well as delayed deliveries of goods from certain producers. Online sales, which account for more than half of the company’s total turnover, are an important factor in mitigating the impact from the physical channels. However, the continued development of Covid-19 and its consequences are unpredictable, and Odd Molly cannot currently make a firm assessment of the extent of the impact on the company’s operations and financial performance over time, other than that the company and its customers will be affected for some time to come. A number of measures have been taken to protect the health of employees, customers and partners and to mitigate the impact on earnings and cash flow. The Board of Directors and management continuously monitor the development of operations in this context in order to quickly and effectively manage the risk of the spread of Covid-19 and to act with further initiatives to counteract the negative impact as far as possible.


For full report see attachment (in Swedish)

For further information, please contact:

Jennie Högstedt Björk, CEO, +46-8-522 28 509

Johanna Palm, CFO, +46-760-10 24 55

This information is information that Odd Molly International AB is obliged to make public pursuant to the EU’s Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set above, on May 7, 2020 at 8.00 am CET.