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
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For other enquiries, please contact:
Preben Vinkler Lindgaard
Certified Adviser: Erik Penser Bank AB
Telephone number: +46 8-463 83 00
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.