Q1 2025 Europris ASA Earnings Call Transcript
Key Points
- Europris ASA (STU:2RG) reported a 45% increase in group sales, reaching NOK2.9 billion.
- The company has successfully opened three new stores in central locations in Norway, contributing positively to sales.
- Europris ASA has completed the modernization of its IT platform, including a new ERP system in Sweden, on time and within budget.
- The company is well-positioned for the upcoming spring and summer seasons, with early spring weather expected to boost sales.
- The turnaround progress for OoB is on track, with plans to grow sales to SEK5 billion and achieve a 5% EBIT margin by 2028.
- Europris ASA reported a lower EBIT, ending at minus NOK37 million, primarily due to unrealized currency losses.
- The company experienced a NOK34 million unrealized currency loss in the first quarter, compared to a NOK19 million gain last year.
- OoB recorded an EBIT loss of NOK115 million, impacted by clearance sales and integration costs.
- Customer traffic in Sweden remains low, and the company needs to improve the customer experience to drive more traffic.
- Net profit to parent was negative at NOK80 million, compared to a positive NOK47 million last year.
Good morning, and welcome to Europris presentation of the first quarter results. I'm Espen Eldal. And joining me on stage today is Stina Byre, our CFO who will present the financial details; and IR officer, Trine Englokken will manage the Q&A at the end of the presentation.
I know it's a busy day in the market. It's a lot going on, and we will, of course, try to complete this presentation in due time before the market opens. So you have time to fully focus on that as well. The first quarter has always been a challenge to report in the retail sector due to the timing of Easter.
And this year is no exception from that. In 2025, we have a very late Easter. Historically, that is very positive for sales, but it also then means it has a huge impact on comparable figures through to last year. In addition to that, we have added some more complexity this year with the acquisition of OoB from May last year, we have increased sales and of course, also impacts on all key ratios significantly, and that is not fully comparable until the third
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