Q4 2018 Boozt AB Earnings Call Transcript
Hello, and welcome to the Boozt Q4 2018 report. Today, I am pleased to present CEO Hermann Haraldsson; and CFO Allan Junge-Jensen. (Operator Instructions) Gentlemen, please begin.
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Good morning. This is Hermann speaking. I think we just start by going to the first slide, the key highlights. If we look at the key highlights, there is basically not much new since our announcement about 4 weeks ago. We had a quite strong end to the quarter with a 39% net revenue growth and a better-than-expected EBIT margin due to scale effects and also because gross margins did not deteriorate as we had feared. The growth was supported by Boozt.com with 37% and Booztlet with 77%. And then currency had a 4 percentage points impact in Q4. The decline in the adjusted EBIT margin in Q4 compared to last year was driven by, one, the lower gross margin; and then also the investments in the physical stores. We could offset the decline in gross margin due to scale effects in marketing and admin and other costs,
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