Lauritz.com Group A/S – Updated guidance for 2022

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Lauritz.com Group A/S
Lauritz.com Group A/S

  

No. 6/2022

Copenhagen, 18 August 2022

 

During the first half of 2022 Lauritz.com has reduced cost by 13 percent compared to last year, and we expect to be able to maintain a cost level below last year in the second half of the year.

Due to cost savings, we are expecting EBITDA to increase compared to previous guidance.

The increase in EBITDA is partly offset by the impact of the macroeconomic development with a large increase in consumer prices which has reduced spending power among customers.

The macroeconomic development has resulted in a decline in Auction turnover of 4.6 percent in the first half of the year, by mid-August the decline has been reduced to 1.9 percent year to date. For the remainder of the year, we expect Auction turnover and Revenue to remain close to last year’s level.

Based on the above the guidance for 2022 is changed to:

  • Growth in Auction Turnover of -5 to +5 percent (previous guidance 0 to 10 percent growth).

  • Growth in Revenue of -5 to +5 percent (previous guidance 5 to 15 percent growth).

  • EBITDA of DKK 5 to 10m (previous guidance 3 to 8m).

 

 

Bengt Sundström, Chairman of the board

Mette Margrethe Rode Sundstrøm, CEO

Preben Vinkler Lindgaard, CFO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For press enquiries, please contact:

Mette Jessen

E-mail: press@lauritz.com

 

 

 

For other enquiries, please contact:

Preben Vinkler Lindgaard

CFO

E-mail: Preben@lauritz.com

 

 

 

Certified Adviser: Erik Penser Bank AB

Telephone number: +46 8-463 83 00

E-mail: certifiedadviser@penser.se

 

Market place: Nasdaq First North Growth Market Stockholm

 

 

 

This information is information that Lauritz.com Group A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 16.15 pm CEST on 18 August 2022.

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