Bildkälla: Stockfoto

Footway Q2: Challenging quarter; transformation continues - SEB

Footway Group's Q2 sales came in SEK 17m or 4% below our forecast for a growth of 32% y-o-y. Shoes for work and parties continue to experience material y-o-y drops while certain outdoor-categories grew clearly in the triple-digits. The gross margin was flat y-o-y while we looked for an increase. With lower y-o-y opex, the EBITA was almost unchanged y-o-y at SEK 3m (vs. our forecast of SEK 12m). Mechanically, our 2021 EBITA is down 30% but likely limited on 2022.

Footway Group's Q2 sales came in SEK 17m or 4% below our forecast for a growth of 32% y-o-y. Shoes for work and parties continue to experience material y-o-y drops while certain outdoor-categories grew clearly in the triple-digits. The gross margin was flat y-o-y while we looked for an increase. With lower y-o-y opex, the EBITA was almost unchanged y-o-y at SEK 3m (vs. our forecast of SEK 12m). Mechanically, our 2021 EBITA is down 30% but likely limited on 2022.
Börsvärldens nyhetsbrev
ANNONSER