Datum Källa Rubrik Typ Alternativ
2022-05-19 Lauritz.com Group A/S Lauritz.com Group A/S Annual General Meeting Pressreleaser Visa Stäng
2022-05-12 Lauritz.com Group A/S Lauritz.com Group A/S – Interim report January – March 2022 Pressreleaser Visa Stäng
2022-05-03 Lauritz.com Group A/S Notice to convene Annual General Meeting in Lauritz.com Group A/S Pressreleaser Visa Stäng
2022-04-11 Lauritz.com Group A/S Correction to company announcement nr. 2 from 8 April 2022 Pressreleaser Visa Stäng
2022-04-08 Lauritz.com Group A/S Lauritz.com Group A/S publishes its annual report 2021 Pressreleaser Visa Stäng
2022-02-24 Lauritz.com Group A/S Lauritz.com Group A/S – Interim report January – December 2021 Pressreleaser Visa Stäng
2021-11-04 Lauritz.com Group A/S Lauritz.com Group A/S – Interim report January – September 2021 Pressreleaser Visa Stäng
Pressreleaser | 4 Nov 2021 | Lauritz.com Group

Lauritz.com Group A/S – Interim report January – September 2021

  

No. 16/2021

Copenhagen, 04 November 2021

 

In the third quarter of 2021 the business of Lauritz.com group continued the growth in revenue. Revenue growth in Q3 was 7 percent despite Auction Turnower declining by 8 percent. This shift is a result of our focus on improving the revenue structure of the business, and due to discounts given in Q3 last year to boost business in the early part of the Covid-19 crisis.

Following the sale completed in May 2021, the group is now fully focussed on the development of the Lauritz brand internationally.

Development in EBITDA

For the period January to September auction turnover growth is 7 percent and revenue growth for the continuing business is 13 percent compared to 2020, whereas operating cost has increased by 3 percent.

EBITDA in the 9-month period increased by DKK 8.3m for the continuing business to DKK -0.2m (-8.5m) compared to last year.

Net cash flow for the continuing business is DKK -0.4m (4.9m). The change is mainly driven by the improvement in EBITDA and changes in working capital items.

 

Future organization

To bring Lauritz.com to the next level as to turnover and earnings on shorter and longer terms, including expected roll out of new business areas, a future central management team has been defined. The new Country Manager Denmark and the new CTO onboarded during the first half of 2021 and a new CMO is planned to join in Q4.

 

Commercial initiatives

Our continued focus on sales management, business control and execution both internally in the headquarter and in all auction houses is showing results.

The comprehensive optimization process that all auction houses have gone through in terms of logistics and handling of the auction supply chain, has released resources for intensified sales activities focusing on the local evaluation and sourcing of items for auction.

In terms of marketing activities, we are continuously intensifying our digital foot print, showing positive effects and strengthening our position within international, national and local communities interested in selling and buying sustainable vintage items of high quality within art, design and collectables.

 

Financing

The group is funded by a bond. Currently the bond has an outstanding debt of SEK 155m and an interest rate of 4%.

When the last part of the payment for the sold business is received in May 2022 (SEK 15m), a repayment of SEK 15m will be made, after which the remaining bond debt will be a standing loan of SEK 140m until maturity in December 2024.

 

Impact on financial reporting due to the sale of activities

The presentation of the business in the financial statements is impacted by the sale of Stockholms Auktionsverk, the auction house in Karlstad Hammarö and 3 auction houses in Germany. The sold business is presented as discontinued operations in the statement of comprehensive income, balance sheet and statement of cash flow. The sold part of the business was reclassified to discontinued operations and the value of the assets included as assets available for sale has been impaired to reflect the achieved sales price.

The sale of Stockholms Auktionsverk, the auction house in Karlstad Hammarö and 3 auction houses in Germany result in an accounting loss as the book value of the sold activities is higher than the achieved sales price, resulting in an impairment loss of DKK 23m. This loss is included in Result from discountinued operations primarily in 2020.

 

Guidance for 2021

Following the sale of Stockholms Auktionsverk, the auction house in Karlstad Hammarö and 3 auction houses in Germany our guidance for the continuing business is unchanged at:

  • Growth in Auction Turnover of 5-15 percent
  • Growth in Revenue of 10-20 percent
  • EBITDA of DKK 0-8m.

Bengt Sundström, Chairman of the board

Mette Margrethe Rode Sundstrøm, CEO

Preben Vinkler Lindgaard, CFO

 

 

 

 

Highlights Q3 2021

July – September 2021 (continuing operations)

 
  • Revenue increase of 7 percent.
  • Cost decrease of 6 percent compared to last year.
  • EBITDA increased by DKK 3.7m to DKK 2.5m (-1,2m).
  • Auction Turnover decrease of 8 percent.
  • Average knockdown price in Q3 of DKK 2,892 (2,969).
  • Number of knockdowns 32,434 (34,491).
 

January – September 2021 (continuing operations)

 
  • Revenue increase of 13 percent.
  • Cost increase by 3% compared to last year.
  • EBITDA improved by DKK 8.3m to DKK -0.2m (-8.5m).
  • Auction Turnover increase of 7 percent.
  • Average knockdown price in the first 9 months of 2021 was DKK 2,812 (2,891).
  • Number of knockdowns up by 10% to 108,489 (98,650).
 

 

 

Lauritz.com Group A/S key figures
(continuing operations)

 

July – September January – September
000 DKK 2021 2020 2021 2020
Auction turnover 93,788 102,398 305,057 285,216
Number of Knockdowns (excl. QXL) 32,434 34,491 108,489 98,650
Average Knockdown price (excl. QXL), DKK 2,892 2,969 2,812 2,891
Revenue 31,165 29,258 95,585 84,615
EBITDA 2,498 -1,237 -190 -8,476
Auction Turnover Margin1 2.7% -1.2% -0.1% -3.0%
Profit -415 -3,460 -8,780 -17,247
Earnings per share, DKK -0.010 -0,085 -0.216 -0.424
Net cash flow 5,685 5,758 -443 4,949

1 Auction Turnover Margin = EBITDA/Auction Turnover.

 

 

 

For press enquiries, please contact:

Mette Jessen

E-mail:  press@lauritz.com

 

 

For other enquiries, please contact:

Preben Vinkler Lindgaard

CFO

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 Premier 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 9.00am CET on 04 November 2021.

Attachments


2021-10-28 Lauritz.com Group A/S Lauritz.com Group A/S Extraordinary General Meeting Pressreleaser Visa Stäng
2021-10-13 Lauritz.com Group A/S Notice to convene extraordinary general meeting in Lauritz.com Group A/S Pressreleaser Visa Stäng
2021-08-26 Lauritz.com Group A/S Lauritz.com Group A/S – Interim report January – June 2021 Pressreleaser Visa Stäng
2021-06-25 Lauritz.com Group A/S Lauritz.com Group A/S - Annual General Meeting Pressreleaser Visa Stäng
2021-06-14 Lauritz.com Group A/S Annual General Meeting in Lauritz.com Group A/S Pressreleaser Visa Stäng
2021-06-14 Lauritz.com Group A/S Lauritz.com Group A/S publishes its annual report 2020 Pressreleaser Visa Stäng
2021-05-31 Lauritz.com Group A/S Lauritz.com Group A/S – Interim report January – March 2021 Pressreleaser Visa Stäng
2021-05-26 Lauritz.com Group A/S Lauritz.com Group A/S – Change in reporting calendar Pressreleaser Visa Stäng
2021-05-12 Lauritz.com Group A/S Lauritz.com Group A/S – Closing of Sale of Lauritz-com A/S' subsidiaries in Sweden, Germany and Finland and change in reporting calendar Pressreleaser Visa Stäng
2021-04-28 Lauritz.com Group A/S Lauritz.com Group A/S – Result of written procedure Pressreleaser Visa Stäng
2021-04-26 Lauritz.com Group A/S Lauritz.com Group A/S – Sale of Lauritz-com A/S' subsidiaries in Sweden, Germany and Finland Pressreleaser Visa Stäng
2021-04-16 Lauritz.com Group A/S Updated earnings guidance for 2021 Pressreleaser Visa Stäng
2021-04-09 Lauritz.com Group A/S Lauritz.com Group A/S – Correction to company announcement nr 4 regarding Bond Written Procedure and Potential sale Pressreleaser Visa Stäng
2021-04-08 Lauritz.com Group A/S Lauritz.com Group A/S – Bond Written Procedure and Potential sale Pressreleaser Visa Stäng
2021-02-25 Lauritz.com Group A/S Lauritz.com Group A/S interim report January – December 2020 Pressreleaser Visa Stäng
2021-02-01 Lauritz.com Group A/S New CEO at Lauritz.com Pressreleaser Visa Stäng
2021-01-22 Lauritz.com Group A/S Earnings guidance and update on M&A process Pressreleaser Visa Stäng
2020-12-30 Lauritz.com Group A/S Lauritz.com Group A/S - Change in CEO position Pressreleaser Visa Stäng
2020-10-29 Lauritz.com Group A/S Lauritz.com Group A/S interim report January – September 2020 Pressreleaser Visa Stäng
2020-08-20 Lauritz.com Group A/S Lauritz.com Group A/S interim report January – June 2020 Pressreleaser Visa Stäng
2020-08-17 Lauritz.com Group A/S Lauritz.com Group A/S – Guidance for 2020 Pressreleaser Visa Stäng
2020-05-27 Lauritz.com Group A/S Lauritz.com Group A/S – Correction to company announcement no. 8/2020 Pressreleaser Visa Stäng
2020-05-27 Lauritz.com Group A/S Lauritz.com Group A/S Annual General Meeting Pressreleaser Visa Stäng
2020-05-12 Lauritz.com Group A/S Annual General Meeting in Lauritz.com Group A/S Pressreleaser Visa Stäng
2020-05-07 Lauritz.com Group A/S Lauritz.com Group A/S interim report January – March 2020 Pressreleaser Visa Stäng
2020-05-07 Lauritz.com Group A/S Lauritz.com Group A/S publishes its annual report 2019 Pressreleaser Visa Stäng
2020-04-20 Lauritz.com Group A/S Lauritz.com Group A/S appoints M&A consultancy Pressreleaser Visa Stäng
2020-03-31 Lauritz.com Group A/S Lauritz.com Group A/S postpones the Annual General Meeting Pressreleaser Visa Stäng
2020-02-27 Lauritz.com Group A/S Lauritz.com Group A/S interim report January – December 2019 Pressreleaser Visa Stäng
2020-02-24 Lauritz.com Group A/S Result for 2019 and negotiations regarding financing structure Pressreleaser Visa Stäng
2020-01-04 Lauritz.com Group A/S Lauritz.com Group A/S - Negotiations on rolling out Lauritz.com in Asia including new financial structure Pressreleaser Visa Stäng
2019-12-17 Lauritz.com Group A/S Lauritz.com Group A/S – New financing arrangement being negotiated Pressreleaser Visa Stäng
2019-12-05 Lauritz.com Group A/S Lauritz.com Group A/S – Updated guidance for 2019 Pressreleaser Visa Stäng
2019-10-30 Lauritz.com Group A/S Lauritz.com Group A/S interim report January – September 2019 Pressreleaser Visa Stäng
2019-10-01 Lauritz.com Group A/S Changes in the management and organisation structure of Lauritz.com Pressreleaser Visa Stäng
2019-08-15 Lauritz.com Group A/S Lauritz.com Group A/S interim report January – June 2019 Pressreleaser Visa Stäng
2019-07-02 Lauritz.com Group A/S Lauritz.com Group A/S – Restructuring of Corporate bonds completed Pressreleaser Visa Stäng
2019-06-28 Lauritz.com Group A/S Lauritz.com Group A/S appoints its new CEO Pressreleaser Visa Stäng
2019-06-28 Lauritz.com Group A/S Lauritz.com Group A/S – Changes to bond terms approved Pressreleaser Visa Stäng
2019-06-10 Lauritz.com Group A/S Lauritz.com Group A/S – Restructuring of corporate bond, Written Procedure Pressreleaser Visa Stäng
2019-05-29 Lauritz.com Group A/S Lauritz.com Group A/S – Change to Board of Directors Pressreleaser Visa Stäng
2019-05-27 Lauritz.com Group A/S Lauritz.com Group A/S – Restructuring of corporate bond Pressreleaser Visa Stäng
2018-01-23 Lauritz.com Group A/S Lauritz.com Group A/S expect to publish financial interim report for Q4 2017 on 22 February 2018 at 9.00 am CET Rapporter Visa Stäng
2018-01-08 Lauritz.com Group A/S Lauritz.com changes the organisation to drive sales Pressreleaser Visa Stäng
2017-12-20 Lauritz.com Group A/S Lauritz.com Group A/S appoints its new CFO Pressreleaser Visa Stäng
2017-12-13 Lauritz.com Group A/S Addendum to Company announcement no 18 regarding Lauritz.com enters into a five-year partnership agreement for the auction house in Roskilde, Denmark. Pressreleaser Visa Stäng
2017-12-13 Lauritz.com Group A/S Lauritz.com enters into a five-year partnership agreement for the auction house in Roskilde, Denmark. Pressreleaser Visa Stäng
2017-12-01 Lauritz.com Group A/S Change in the management and board of directors of Lauritz.com Pressreleaser Visa Stäng
2017-11-07 Lauritz.com Group A/S Update: Presentation of Lauritz.com Group A/S interim report January - September 2017 Rapporter Visa Stäng
2017-11-07 Lauritz.com Group A/S Lauritz.com Group A/S interim report January - September 2017 Rapporter Visa Stäng
2017-11-02 Lauritz.com Group A/S Lauritz.com Group A/S publishes interim report Q3 2017 on 7 November 2017 at 9.00 am CET with streaming presentation on 9 May at 9.05 am CET Rapporter Visa Stäng
2017-08-15 Lauritz.com Group A/S Lauritz.com Group A/S interim report January - June 2017 Rapporter Visa Stäng
2017-08-10 Lauritz.com Group A/S Lauritz.com Group A/S publishes interim financial report Q2 2017 on 15 August at 9.00 am CET with live streaming presentation at 9.05 Pressreleaser Visa Stäng
2017-07-25 Lauritz.com Group A/S Lauritz.com Group A/S appoints its new CEO Pressreleaser Visa Stäng
2017-07-24 Lauritz.com Group A/S Lauritz.com Group A/S issues 125 875 shares of nom DKK 0,10 for a minor acquisition Pressreleaser Visa Stäng
2017-05-09 Lauritz.com Group A/S Lauritz.com Group A/S interim report January - March 2017 Rapporter Visa Stäng
2017-05-04 Lauritz.com Group A/S Lauritz.com Group A/S publishes interim report Q1 2017 financial report with live streaming presentation on 9 May at 9.00 am CET Rapporter Visa Stäng
2017-04-26 Lauritz.com Group A/S Lauritz.com Group A/S annual general meeting Pressreleaser Visa Stäng
2017-04-25 Lauritz.com Group A/S Lauritz.com enters into a five year partnership agreement for the auction houses in Esbjerg. Pressreleaser Visa Stäng
2017-04-07 Lauritz.com Group A/S Lauritz.com publishes its annual report 2016. Pressreleaser Visa Stäng
2017-04-06 Lauritz.com Group A/S Notice to convene the annual general meeting in Lauritz.com Group A/S Pressreleaser Visa Stäng
2017-04-06 Lauritz.com Group A/S Herved indkaldes til ordinær generalforsamling i Lauritz.com Group A/S Pressreleaser Visa Stäng
2017-03-31 Lauritz.com Group A/S Lauritz.com enters into a five year partnership agreement for the auction houses in Søborg and in Hørsholm in Denmark. Pressreleaser Visa Stäng
2017-03-27 Lauritz.com Group A/S Lauritz.com Group A/S :Mette Rode Sundstrøm to leave position as CEO during 2017 Pressreleaser Visa Stäng
2017-02-27 Lauritz.com Group A/S Lauritz.com Group A/S - Year-end 2016 financial report Pressreleaser Visa Stäng
2017-02-22 Lauritz.com Group A/S Lauritz.com Group A/S publishes year end 2016 financial report with live streaming presentation on 27 February at 10.00 am CET Pressreleaser Visa Stäng
2017-01-19 Lauritz.com Group A/S Lauritz.com Group A/S sænker 2016 vækst guidance for EBITDA Pressreleaser Visa Stäng
2017-01-19 Lauritz.com Group A/S Lauritz.com Group A/S lowers 2016 EBITDA growth guidance Pressreleaser Visa Stäng
2016-11-28 Lauritz.com Group A/S Lauritz.com Group A/S interim report January - September 2016 Rapporter Visa Stäng
2016-11-28 Lauritz.com Group A/S Lauritz.com Group A/S interim report January - September 2016 Rapporter Visa Stäng
2016-11-28 Lauritz.com Group A/S Lauritz.com Group A/S interim report January - September 2016 Rapporter Visa Stäng
2016-11-28 Lauritz.com Group A/S Lauritz.com Group A/S interim report January - September 2016 Rapporter Visa Stäng
2016-11-25 Lauritz.com Group A/S Lauritz.com Group A/S offentliggør kvartalsrapport for Q3 2016 med live streaming præsentation den 28. november kl 10.05 Pressreleaser Ladda ner | Visa Stäng
2016-11-25 Lauritz.com Group A/S Lauritz.com Group A/S offentliggør kvartalsrapport for Q3 2016 med live streaming præsentation den 28. november kl 10.05 Pressreleaser Ladda ner | Visa Stäng
2016-11-25 Lauritz.com Group A/S Lauritz.com Group A/S publishes interim report Q3 2016 with live streaming presentation on 28 November at 10.05 am CET Rapporter Ladda ner | Visa Stäng
2016-11-25 Lauritz.com Group A/S Lauritz.com Group A/S publishes interim report Q3 2016 with live streaming presentation on 28 November at 10.05 am CET Rapporter Visa Stäng
2016-11-24 Lauritz.com Group A/S Lauritz.com indgår 5-årig partneraftale omkring filialen i Herning Pressreleaser Visa Stäng
2016-11-24 Lauritz.com Group A/S Lauritz.com enters into a five year partnering agreement for the branch in Herning Pressreleaser Ladda ner | Visa Stäng
2016-09-23 Lauritz.com Group A/S Company announcement - Information regarding conclusion of a five year partnering agreement for the branch in Cologne and change in the Board of Directors Pressreleaser Visa Stäng
2016-09-23 Lauritz.com Group A/S Selskabsmeddelelse - Information om indgåelse af ny partneraftale i køln samt ændring i bestyrelsen Pressreleaser Visa Stäng
2016-09-18 Lauritz.com Group A/S Selskabsmeddelelse - Information om sales- and leaseback aftalen vedrørende ejendommen Rovsingsgade København Pressreleaser Visa Stäng
2016-09-18 Lauritz.com Group A/S Company announcement - information about sales- and leaseback agreement on the property located Rovsingsgade Copenhagen Pressreleaser Visa Stäng
2016-09-16 Lauritz.com Group A/S Lauritz.com A/S' tilbagekøber ca. 2,4% af selskabets udstedte obligationer for SEK 7,6 mio. Pressreleaser Visa Stäng
2016-09-16 Lauritz.com Group A/S Lauritz.com A/S' acquires approx. 2.4% of its issued bonds for mSEK 7.6 Pressreleaser Visa Stäng
2016-08-24 Lauritz.com Group A/S Lauritz.com group A/S delårsrapport Q2 2016 Rapporter Visa Stäng
2016-08-24 Lauritz.com Group A/S Lauritz.com Group A/S - interim report Janaury - June 2016 Rapporter Ladda ner | Visa Stäng
2016-08-11 Lauritz.com Group A/S Lauritz.com group A/S' afholdelse af ekstraordinær generalforsamling Pressreleaser Ladda ner | Visa Stäng
2016-08-11 Lauritz.com Group A/S Lauritz.com group A/S' extraordinary general meeting Pressreleaser Ladda ner | Visa Stäng

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