Bokusgruppen AB

Hej och välkomna till dagens sändning då vi har med oss Bokusgruppens vd Patrik Öbreby och bolagets CFO Ola Målsnäs som kommer att presentera bolagets Q1-rapport 2026. Önskar du ställa frågor till bolaget så kan du använda formuläret till höger så tar vi upp det med eftersändningen. Och med det så lämnar jag över ordet till er, Ola och Patrik.

Tack för det. Hej och välkomna. Jag som pratar heter Patrik Övreby och är nytillträdd vd sedan första april. Och bredvid mig sitter vår CFO Ola Målsnäs som många av er har träffat förut. Hej Ola. Hej hej. Hörrni, innan vi kör igång ordentligt så vill jag bara inleda och kort berätta om mig eftersom det är första gången vi träffas. I have worked here in the bookkeeping group since 2011 in various commercial roles and I have been part of the management since 2018. I feel the company well and am very motivated to get the opportunity to develop this fantastic company with our strong brands further. I am convinced that we together with all employees can continue to strengthen the bookkeeping group step by step and over time create sustainable profitable growth. But now over to the presentation of the quarter, which is the main reason for us to meet. After many quarters, where we have shown increases in revenues following each other, the first quarter shows a slightly more mixed picture. The academic book sales increased further within both stores and especially online. Akademibokhandeln butik managed to beat a very successful previous year, while Akademibokhandeln online got a really good boost from our new e-commerce platform. However, the booksegment had a bit more of a backlash in sales. But if we sum that up for the booksegment group in total, we almost reached the same historically high turnover level as the first quarter of 2025. Vi uppvisar också fortsätta förstärkningar av våra bruttomarginaler, vilket jag tycker är ett styrkebesked. De här stärkta bruttomarginalerna ledde också till att vi kunde visa ytterligare förstärkning av EBITDA till vår högsta nivå någonsin för kvartalet. If we look at the figures, it means a decrease in revenue by 0.8%, which is compensated by an increased gross margin of 1.2%. This results in an EBITDA growth of 1.4%. We got an even greater growth in revenue after the tax, which increased by 55% compared to the same quarter last year. Det finns också några viktiga händelser under kvartalet och framförallt i början av det andra kvartalet som jag tycker är intressant att nämna för er. Under kvartalet så gick den traditionella bokrena stapeln i slutet av februari och i år var den starkare än någonsin för bokhusgruppen, sett både till omsättning och lönsamhet. Jag tar det som ett kvitto på att intresset för böcker är stort och det är glädjen att en så omtyckt och viktig tradition med fysiska böcker i centrum fortfarande är så relevant för så många kunder. In addition to the fact that this is a very important sales period for us, it is also a fantastic opportunity to spread the joy of learning to more customers. During the quarter, our store was also closed on the Odenplan due to the fact that the property owner was going to demolish the house. We are actively looking for a replacement location since it is an area that we see great potential in and hope that we can find a solution in not too long. After the quarter, I would like to mention that we will take over the previous franchise store in Marieberg Galleria outside of Ebro, which we acquired at the end of 2025. This means that when we look into the second quarter, we will have another store in our central store network. In addition, we will open a new store in Skärholmen Center outside of Stockholm in June. This will be an even more positive boost. Framåt så vill vi satsa ännu mer på vårt starka butiksnät eftersom vi ser att vi har en stor lojal kundbas och det driver både omsättning och lönsamhet. Gällande e-handeln så lanserar vi då äntligen den 14 april Bokus nya sajt på vår nya e-handelsplattform. Jag kommer prata lite mer om det senare i presentationen. If we look at the quarter from a historical perspective, it is a very strong quarter. Both the turnover and the result are all-time high for the quarter, and we are very proud of that. When we go into more detail in the financial figures, I will hand over to our CFO, Ola Målsnäs. Thank you, Patrik.

We will start by looking at a picture here of our season variation for our business. Here we can see how revenues and results vary during the different quarters of the year. Q1, which we present today, is our revenue-wise next largest quarter. The start of the course and not least the books again, which we have talked about, are important sales events. Moving on, we see that the second quarter has the lowest annual revenue, which will then increase in the third quarter with, among other things, school start, Och avslutas med det fjärde kvartalet som årets starkaste då med Black Friday och julhandel som stora händelser. Och det fjärde kvartalet står för cirka 35% av årets omsättning. There we are, sorry. Then we can repeat that. As I said, we have a seasonal variation, as we see in this picture, which shows how it varies during the year for our business. Q1 is, as you can see here, the year's next largest quarter, which is dominated by course start and bookstore, not least, which we have just talked about. And we also see that the second quarter is the year's lowest quarter in revenue, and thereafter it increased in the third quarter. The quarter with a school start and is rounded off in the fourth with Black Friday and Christmas trade, which is our most important quarter. If we then look at the outfall for the quarter, as we now report, we see that we have a net income of 502.2 million kronor, which means a decrease of 0.8% compared to 2025. Vi har en bruttomarginal som uppgår till 43,7 procent, en ökning med 1,2 procentenheter. Det förklaras av flera faktorer som optimerad frisättning och en gynnsam kanalmix i kvartalet. Rebeta för kvartalet landar på 13,8 miljoner kronor, vilket är 0,2 miljoner kronor högre än föregående år. Kvartalets resultat efter skatt uppgår till minus 1,7, vilket är 2,1 miljoner kronor högre än föregående år. We can summarize this as a strong quarter with a result of an all-time high. If we then look at the rolling 12, we have a net turnover of 2 billion 150.8 million kronor, which means an increase of 5.9% compared to the previous year. We have a gross margin of 46%, which is an increase of 2.5% The increase will mean that we have strengthened margins in both segments. We have created this by working with consumer prices and incoming businesses. Our EBITDA for the 12-month period fell to 158.7 million kronor, which is an increase of 35.6 million kronor compared to the previous year. Resultatet efter skatt för rullande 12 uppgår till 90,2 miljoner kronor vilket är 48,5 miljoner kronor bättre än föregående år. Den rullande 12-månadersperioden påverkas positivt av en engångspost från återläggning av tilläggsköpsskillning om 18,8 miljoner kronor som påverkade 2025 och då främst Q4 2025. Notera att detta påverkar finansiella poster, det vill säga The result for the 12-month period is 71.4 million kronor, which is 29.7 million kronor higher than the previous year and corresponds to an increase of 71.2%. So it's simply a really strong 12-month period. Then we look at our balance and cash flow here, and the book group's strong balance calculation, and we also showed an improved cash flow compared to the first quarter last year. The cash flow for the first quarter was negative, which is normal for this quarter. We see in the graph to the left of the picture that we have a clear seasonal variation, also for the cash flow, where the fourth quarter is the strongest, driven not least by the Christmas trade. When we come to the first quarter, large parts of the purchases that we make in the fourth quarter are paid, which then leads to a negative cash flow in that period. The adjusted operating cash flow for the first quarter of 2026 rose to minus 11.5 million kronor, which is then compared to minus 113.4 million kronor in the corresponding quarter of 2025. This means an improvement of 1.8 million kronor, which we can see in the middle of the picture. Den ökningen är primärt kopplad till utbetalt skatt, lägre investeringar och något lägre amorteringar av leasing-skulder. För rullande 12 månader så uppgår det justerade operativa kassaflödet till 80,9 miljoner kronor. En ökning med 3,1 miljoner kronor jämfört med 2025 som vi också kan se i mitten på bilden. Det justerade operativa kassaflödet innebär att vi lägger tillbaka de utbetalningar som avser amorteringar av leasing-skulder enligt IFRS 16. Lisen's debt is primarily about our store rents. For the quarter, this goes up to 36.5 million kronor and for the current 12 to 144.1 million kronor. If we look at the far right in the picture, we see that the net debt through adjusted EBITDA Q1 2026 to 0.3, to compare them with 0.6 for Q1 2025. And that means that we use 40 million kronor on our credit per March 31, 2026. And we can also note that our solidity is still high, it probably goes to 45%, and it can be compared with 41.3% previous year for this year. And with that, I'll leave it back to you again, Patrik.