Boozt

Interim / Quarterly Report • Aug 18, 2023

Interim Financial Report H1 2023

January 1 - June 30, 2023

Contents

Group - Key performance indicators (KPIs)	5
Group Development	6
Group Development - ESG Highlights	9
Development by segment	12
Other information	15
Consolidated income statement	17
Consolidated statement of comprehensive income	17
Consolidated statement of financial position	18
Consolidated statement of changes in equity	19
Consolidated statement of cash flow	20
Note 1 - Accounting principles	21
Note 2 - Segment reporting	21
Note 3 - Financial instruments	22
Note 4 - Investments	23
Parent company income statement	24
Parent company financial position	25
Additional information	27
Information by quarter	28
Definitions and rationale for the use of certain Alternative Performance Measures (APM)	30
Financial calendar	31

Second Quarter Highlights Year-to-date highlights

Financials

• Net revenue of SEK 1,687 and a net revenue growth of 8.6% (local currency 4.4%). Net revenue growth of 8.1% for Boozt.com and 11.0% for Booztlet.com
• Gross margin of 42.3% (41.3)
• Adjusted EBIT margin of 5.1% (5.2) Earnings per share before dilution of SEK 0.97 (0.68)
• Free cash flow of SEK -10.2 million (-229)
• Cash and cash equivalents of SEK 901 million (1,038)

Financials

• Net revenue of SEK 3,212 million and a net revenue growth of 7.9% (local currency 4.2%). Net revenue growth of 10.1% for Boozt.com and -1.6% for Booztlet.com.
• Gross margin of 40.5% (40.4)
• Adjusted EBIT margin of 3.2% (3.0)
• Earnings per share before dilution of SEK 0.90 (0.57)
• Free cash flow of SEK -741.7 million (-731)

Significant events

• Boozt initiates repurchase program of own shares

Significant events after the period

• No significant events have occurred after the reporting date

SEK million unless otherwise indicated	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Change	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Change
GROUP
Net revenue	1,687.2	1,553.2	8.6%	3,211.9	2,977.2	7.9%
Gross profit	712.9	641.9	11.1%	1,299.2	1,201.4	8.1%
EBIT	66.1	64.6	2.3%	63.6	59.9	6.3%
Adjusted EBIT*	85.6	80.9	5.8%	102.6	89.7	14.3%
Earnings for the period	66.1	46.1	43.3%	61.1	38.5	58.7%
Free cash flow*	-10.2	-229.0	-95.6%	-741.7	-731.1	1.4%
Net revenue growth (%)	8.6%	5.2%	3.4 pp	7.9%	13.9%	-6.0 pp
Gross margin (%)*	42.3%	41.3%	0.9 pp	40.5%	40.4%	0.1 pp
EBIT margin (%)	3.9%	4.2%	-0.2 pp	2.0%	2.0%	-0.0pp
Adjusted EBIT margin (%)*	5.1%	5.2%	-0.1 pp	3.2%	3.0%	0.2 pp

Rounding differences may affect the summations.

*The figure is an Alternative Performance Measure, for further information see page 32.

Outlook for 2023	Outlook as of August 18, 2023	Previous outlook	Reported 2022
Net revenue growth	Between 7.5-12.5%	Between 5-15%	16.0%
Adjusted EBIT	SEK 300-350 million	SEK 275-375 million	285.6

The outlook assumes constant currencies from the time of this announcement and for the remainder of the financial year.

*The Adjusted EBIT outlook for 2023 is positively impacted by a reassessment of the useful lives of selected parts of the Group's fixed assets that mainly relates to the AutoStore installations. The reassessment is carried out to better reflect market practice and by doing so the Group assesses a higher degree of comparability of EBIT towards industry peers. Compared to 2022, the positive impact on yearly depreciation on a like-for-like basis is in the level SEK 25 million.

"We continue to gain market share and grow our business profitably even though market growth for fashion and lifestyle items remains muted. Our organisation and infrastructure has never been more solid and we are geared to handle significant growth once the market picks up. With the investments we have done I believe there is meaningful operational leverage as we continue our journey with the Nordic Department Store Strategy."

Co-founder & CEO Hermann Haraldsson

BOOZT GROUP

Group - Key performance indicators (KPIs)

SEK million unless otherwise indicated	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Change	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Change	Rolling 12 months
GROUP
Net revenue	1,687.2	1,553.2	8.6%	3,211.9	2,977.2	7.9%	6,978.1
Net revenue growth (%)	8.6%	5.2%	3.4pp	7.9%	13.9%	-6.0pp	13.0%
Gross profit	712.9	641.9	11.1%	1,299.2	1,201.4	8.1%	2,764.6
Gross margin (%)*	42.3%	41.3%	0.9pp	40.5%	40.4%	0.1pp	39.6%
Fulfilment cost ratio (%)*	-11.2%	-11.4%	0.2pp	-11.6%	-11.9%	0.3pp	-11.2%
Marketing cost ratio (%)*	-11.1%	-11.0%	-0.1pp	-10.6%	-11.0%	0.4pp	-10.8%
Admin & other cost ratio (%)*	-12.3%	-11.3%	-1.0pp	-12.4%	-11.7%	-0.6pp	-10.5%
Depreciation cost ratio (%)*	-3.7%	-3.5%	-0.2pp	-3.9%	-3.6%	-0.2pp	-3.4%
Adjusted admin & other cost ratio (%)*	-11.1%	-10.2%	-0.9pp	-11.2%	-10.7%	-0.4pp	-9.9%
EBIT	66.1	64.6	2.3%	63.6	59.9	6.3%	256.9
EBIT margin (%)	3.9%	4.2%	-0.2pp	2.0%	2.0%	-0.0pp	3.7%
Adjusted EBIT*	85.6	80.9	5.8%	102.6	89.7	14.3%	298.4
Adjusted EBIT margin (%)*	5.1%	5.2%	-0.1pp	3.2%	3.0%	0.2pp	4.3%
Earnings for the period	66.1	46.1	20.0	61.1	38.5	22.6	208.7
Earnings per share (SEK)*	0.97	0.68	0.28	0.90	0.57	0.33	3.08
Earnings per share after dilution (SEK)*	0.96	0.68	0.28	0.89	0.57	0.32	3.05
Adjusted earnings per share (SEK)	1.19	0.87	0.32	1.36	0.92	0.43	3.57
Adjusted earnings per share after dilution (SEK)	1.18	0.87	0.31	1.34	0.92	0.42	3.53
Cash flow from operations	19.2	-8.6	27.8	-678.9	-150.6	-528.3	219.0
Cash flow from investments	-29.3	-220.4	191.1	-62.8	-580.5	517.7	-185.4
Free cash flow*	-10.2	-229.0	218.9	-741.7	-731.1	-10.6	33.6
Net working capital*	775.4	592.2	183.2	775.4	592.2	183.2	775.4
Net debt / -net cash*	-429.9	-422.8	-7.1	-429.9	-422.8	-500.4	-429.9
Equity / asset ratio	49.3%	47.8%	1.5pp	49.3%	47.8%	1.5pp	49.3%
Number of employees end of period	1,269	1,464	-195	1,269	1,464	-195	1,269

Rounding differences may affect the summations.

*The figure is an Alternative Performance Measure (APM) (non-IFRS), for further information see page 30.

PAGE – 5

Group Development

Our organisation and infrastructure has never been more solid and we are geared to handle significant growth once the market picks up.

Income statement and cash flow items are compared with the corresponding year-earlier period. Balance sheet items refer to the position at the end of the period and are compared with the corresponding year earlier period, meaning June 30, 2022. The second quarter refers to the period April - June 2023.

Net revenue

Net revenue in the second quarter increased 8.6% to SEK 1,687.2 million (1,553.2). Currency had a positive impact on net revenue growth in the second quarter of 4.2 percentage points and relates primarily to the strengthening of DKK and EUR compared to SEK in the second quarter last year.

The quarter got off to a strong start impacted by a solid inventory position of Spring/Summer collections and the delayed spring sales kicking off with improved weather conditions throughout the Nordics. Towards the end of the quarter sales were more muted with lower growth impacted by more cautious customer behaviour.

The continued execution of our Nordic Department Store strategy enabled us to continue to grow the business and the average order value and management assesses that Boozt has continued to gain market share in the second quarter of the year. Return rates increased slightly due to the category mix.

The net revenue increase was driven by 8.1% growth for Boozt.com and 11.0% for Booztlet.com.

Other revenue (included in net revenue) increased to SEK 68.4 million (59,1) in the second quarter mainly driven by Boozt Data Intelligence supporting our brand partner with valuable insights into customer behaviour and product performance. Other revenue is revenue not directly related to product sales, such as income from Boozt Media Partnership, Boozt Data Intelligence, BooztPay and breakage from gift cards.

For the first half of 2023 net revenue increased 7.9% to SEK 3,211.9 million (2,977.2). Currency had a positive impact on net revenue growth in the first half of 3.6 percentage points and relates primarily to the strengthening of DKK and EUR compared to SEK in the first half last year.

Net revenue geographical split

Net revenue in the Nordics increased 7.0% with the strongest performance in Finland followed by Denmark and Sweden. The growth in Rest of Europe came to 32.6%. For the second quarter, the most significant markets in terms of net revenue were Denmark and Sweden accounting for 35.0% and 34.1% of total net revenue respectively.

NET REVENUE – GEOGRAPHICAL SPLIT

SEK million	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Change	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Change
Nordics	1,554.7	1,453.2	7.0%	2,951.2	2,750.6	7.3%
- of which Denmark	589.8	540.0	9.2%	1,120.4	1,032.4	8.5%
- of which Sweden	574.9	560.3	2.6%	1,090.1	1,047.9	4.0%
Rest of Europe	132.5	100.0	32.5%	260.6	226.6	15.0%
Total net revenue	1,687.2	1,553.2	8.6%	3,211.8	2,977.2	7.9%

The gross profit increased 11.1% to SEK 712.9 million (641.9) in the quarter. The gross margin increased to 42.3% (41.3) positively impacted by an attractive inventory mix supported by a higher share of campaign buys. The company entered the year with a healthy inventory position with the expectation that upfront buys could be supported by campaign buys to protect the gross margin in a highly competitive market and for the first half of the year this has materialised in a gross margin slightly higher than last year.

For the first half of 2023 gross profit increased 8.1% to SEK 1,299.2 million (1,201.4). The gross margin increased slightly to 40.5% (40.4).

Operational costs

The fulfilment cost ratio decreased to 11.2% (11.4). In the second quarter, productivity improvements continued to benefit from operational initiatives along with a continued positive impact from the increasing average order value. The recent years capacity expansion has provided ample space to grow the business and the company expects to gradually increase utilisation of automation and warehouse footprint to the benefit of productivity and ultimately the cost ratio. Year-to-date the fulfilment cost ratio decreased to 11.6% (11.9).

The marketing cost ratio was on level with last year at 11.1% (11.0). The company aims to continue a high marketing spend to attract new customers along with further efforts to build Boozt as a household brand in the Nordics via offline marketing efforts. The business continues to be managed based on the core principle of a profitable and sustainable customer acquisition cost (CAC) and customer lifetime value (CLV) with a payback between 16-18 months. Year-to-date the marketing cost ratio decreased to 10.6% (11.0).

The admin & other cost ratio increased to 12.3% (11.3). The increased cost was primarily driven by the weaker Swedish krona impacting part of our cost base. In addition, costs related to share-based payments increased compared to last year. Year-todate the admin & other cost ratio increased to 12.4% (11.7).

The adjusted admin & other cost ratio increased to 11.1% (10.2). Year-to-date the adjusted admin & other cost ratio increased to 11.2% (10.7).

The deprecation cost ratio increased to 3.7% (3.5) in line with expectations. As per January 2023 the latest expansion of our automated warehouse capacity was taken into operation increasing depreciations and we expect to gradually grow into the current excess capacity over the next couple of years. The increase was partly offset by the reassessment of the useful lives of selected parts of the Group's fixed assets that mainly relates to the AutoStore installations (further detail on page 14). Year-to-date the depreciation cost ratio increased to 3.9% (3.6).

Adjusted EBIT

Adjusted EBIT amounted to SEK 85.6 million (80.9) in the second quarter. The adjusted EBIT margin decreased with 0.1 percentage points to 5.1% (5.2). The improved gross margin and lower fulfilment cost ratio positively impacted the margin, but was offset by increased admin & other costs as well as depreciations cost ratios.

Total adjustments in the quarter amounted to SEK 19.5 million (16.3). Adjustments include share-based payments of SEK 17.3 million. Year-to-date adjustments amounted to SEK 38.9 million (29.8).

Share-based payments fluctuate between periods since the probability of the number of vested options under the program is dynamic, as well as the provision for social charges are determined by the company's share price.

For a reconciliation of adjusted EBIT, please visit the Group's website www.booztgroup.com/reports-and-presentations, "Q2 Report 2023" – "Key financials".

EBIT

EBIT improved to SEK 66.1 million (64.6) in the second quarter, while the EBIT margin decreased 0.3 percentage points to 3.9% (4.2).

Negatively impacting EBIT compared to adjusted EBIT in the period was a cost of SEK 19.5 million mainly relating to sharebased payments.

Year-to-date EBIT increased to SEK 63.6 million (59.9), while the EBIT margin was on level at 2.0% (2.0%).

Financial items

The Group's financial income amounted to SEK 5.5 million (0.0). Financial costs amounted to SEK -10.4 million (-5.4). The financial costs were driven by interest on new loans for financing the expansion of AutoStore at the fulfilment centre and recent interest rate hikes, however, offset by the positive interest on our cash position. Net financial items amounted to SEK -4.9 million (-5.4). Net financial costs year-to-date was SEK -8.2 million (-9.5).

Tax

Tax for the period amounted to SEK 4.8 million (-13.1). The Group's effective tax rate for the period was -7.9% (22.2). Year-to-date, the income tax amounted to SEK 5.7 (-11.9), corresponding to an effective tax rate of 23.6 % (21.3). Tax for the period and year-to-date is positively impacted with SEK 17.1 million relating to the utilisation of tax losses carried forward.

Earnings for the period

Earnings for the second quarter totalled SEK 66.1 million (46.1). Earnings per share before dilution amounted to SEK 0.97 (0.68). Earnings per share after dilution amounted to SEK 0.96 (0.68).

Earnings for the first half of the year amounted to SEK 61.1 million (38.5). Earnings per share before dilution amounted to SEK 0.90 (0.57). Earnings per share after dilution amounted to SEK 0.89 (0.57).

Working capital

The Group realised a net working capital of SEK 775.4 million (592.2) equivalent to 11.2% (9.6) of the net revenue for the last twelve months. After the slow start of the spring summer season 2023, which was impacted by cold weather conditions in the Nordics during the full first quarter has since then proceeded according to plan. Sell-through of the seasonal goods is ahead of last year at the end of the quarter and coming into the third quarter. The Group's inventory position is attractive and healthy as the Group has a clear focus to gain market share by offering competitive products also in the very tough market environment currently impacting the industry.

BOOZT GROUP

PAGE – 8

Net debt / net cash

The Group's net cash (-) increased to SEK -429.9 million (-422.8). The net debt / net cash excludes leasing liabilities.

Cash position

Cash and cash equivalents decreased to SEK 901.0 million (1,038.0), driven by the increased inventory position at the end of the quarter.

Lease liabilities

Lease liabilities (current and non-current) increased compared to last year and amounted to SEK 536.7 million (493.4). The increase is related to additional expansion of square metres at the fulfilment centre and the Group's headquarter, as well as the impact from adjustments to lease contracts according to the Consumer Price Index taking effect from January 1, 2023. The increase was partly offset by repayment of lease liabilities.

Interest-bearing liabilities

Interest-bearing liabilities (current and non-current) have decreased to SEK 471.1 million (615.2). The decrease is positively impacted by repayments of loans to finance the AutoStore expansion.

Non-current assets

Non-current assets increased to SEK 2,010.4 million (1,870.9). The increase compared to last year was mainly driven by higher right of use assets and fx impact related to goodwill.

Equity

Equity attributable to the shareholders of the parent company increased to SEK 2,620.6 (2,344.7) million.

Cash flow

Cash flow for the period amounted to SEK -66.3 million (-82.2), driven by cash flow from operating activites and lower investments. Year-to-date cash flow amounted to SEK -879.6 million (-527.8).

Cash flow from operations

Cash flow from operating activities amounted to SEK 19.2 million (-8.6) in the quarter. While the first quarter was negatively impacted by the slow start of the Spring/Summer season that was regained during the second quarter which impacted the cash flow from operations positively compared to last year.

Compared to last year, the Group entered 2023 with a lower than expected stock position as a positive consequence of the strong sales in the fourth quarter of 2022. In the second quarter, just as in the first quarter the Group has focused on securing additional stock via campaign buys and to ensure both an attractive selection and price points impacting working capital negatively. Year-to-date cash flow from operating activities amounted to SEK -678.9 million (-150.6).

Cash flow from investments

Cash flow from investing activities amounted to SEK -29.3 million (-220.4). As expected, the Group made limited investments in fixed assets as the expansion of automation in the Group's current warehouse was finalised during 2022. Of the SEK -29.3 million, SEK 24.5 million was related to development of the Group's platform. Year-to-date cash flow from investment amounted to SEK -62.8 million (-580.5).

Cash flow from financing

Cash flow from financing activities amounted to SEK -56.1 million (146.8) driven by repayment on loans related to the AutoStore installations in the Group's fulfilment operations. Year-to-date cash flow from financing amounted to SEK -137.9 million (203.3).

Group Development - ESG Highlights

As the Nordic Department Store, we are dedicated to delivering a great shopping experience to our customers. In this pursuit, sustainability is a crucial building block for our long-term business success, ensuring that we meet the needs of our stakeholders. With the help of a clear vision and strategy, we intend to amplify our efforts and share best practices that can influence a more sustainable industry.

Care-For strategy

The sustainability Care-For strategy is the roadmap for how to become the leading e-commerce company in the Nordics. As part of this, Boozt has updated its Care-For strategy and goals to ensure they align with the strategic direction of the business and take into account external trends and overall development in society. To cement our efforts across the relevant areas in alignment with our commitment to the ongoing B Corp certification, Boozt's efforts are focused on four dimensions: Environment, Employees, Community and Governance. Within each dimension, Boozt is working with three goal areas and has set 15 targets to support the sustainability Care-For strategy. Status on the relevant goal areas and targets can be found under the section below 'Development per goal area'.

GOAL AREA	TARGET
Reducing Greenhouse Gas Emissions	By 2024: Set science-based targets and submit them to the Science-based targets initiative
	By 2026: Disclose 100% of relevant Scope 3 emissions categories
Minimising Waste	By 2026: Increase the share of recycled waste to 80%
Driving Responsible Production	By 2024: Develop a scorecard to assess ESG Performance in purchasing decisions for at least 60% of our partner brands
Promoting Equality	By 2024: Identify opportunites to further support the governmental parental leave policy for all Boozt Fashion AB employees to continue to promote equality
Engaging & Healthy Work Environment	By 2024: Reach above 77% of the aggregated participation rate in our internal employee survey
	By 2024: Increase eNPS score to reach the TOP 10 placement in the consumer industry
Shaping Employee Development	By 2023: Implement a regular career development review process that includes all Boozt Fashion AB employees
Empowering Customers	By 2024: Extend ReBoozt's presence across our markets
Engaging Suppliers	By 2026: Provide semi-annual events for our brand partners
	By 2023: Ensure 100% of our apparel brand partners are committed to supply chain transparency and to working with the Higg BRM tool
Involving Communities	By 2024: Increase collaboration with relevant universities and research institutions to share and learn best practices
Accelerating Transparency	By 2024: Increase engagement with third-party ESG rankings and ratings
Mitigating Risks	By 2026: Request at least 80% of our brand partners to identify, map and share with us their Tier 1 and 2 suppliers
Integrating Sustainability	By 2026: Increase participation to internal training on Sustainability

ESG KPIs

ESG KPIs	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022
CO₂e intensity per order (kg)	0.37	0.37	0.44	0.43
Share of renewable electricity (%)	98.1	97.9	98.2	98.1
Share of recycled waste in the Fulfilment Centre (%)	75.0	58.2	73.4	60.0
Employee Net Promoter Score (eNPS)	61	39	59	42
Average aggregated participation rate of the employee survey (%)	91	66	89	68

Notes to the ESG KPIs

CO₂e intensity per order (kg)

The CO₂e intensity per order is calculated by dividing the emissions of deliveries and returns (category Scope 3 Upstream transportation and distribution emissions) by the number of orders shipped. Emissions are reported in Well-to-Wheel (WtW). The reported value covers 98% of the order volume in Q2 2023 (Q2 2022: 96%).

Share of renewable electricity (%)

The Share of renewable electricity is calculated by dividing the total renewable electricity consumption by the total electricity consumption. Renewable electricity is powered by hydropower, solar energy and wind. In Q2 2023, the solar panels installed on the roof of the Fulfilment Centre generated a total of 205,602 kWh of electricity.

Share of recycled waste in the Fulfilment Centre (%) The share of recycled waste is calculated by dividing the total recycled waste by the total waste generated. The treatment method for the remaining waste is waste-to-energy (WtE) in certified centres in Sweden, close to the Fulfilment Centre. In the second quarter, 271.8 tons were recycled, which is about 75% of the total waste generated (Q2 2022: 58.2%). The increase in the share of recycled waste is due to a higher amount of sorted and recycled plastic packaging and an increase in reused wood.

Employee Net Promoter Score (eNPS) The Employee Net Promoter Score (eNPS) measures Employee Engagement at Boozt. The eNPS is calculated by subtracting the percentage of Detractors from the percentage of Promoters, the final value can range anywhere from -100 to 100. The value is calculated as the average of the quarter.

Aggregated participation rate of the employee survey (%) Calculated as the average of the quarter, the aggregated participation rate demonstrates a significant increase in Q2 2023, reaching 91% compared to 66% in Q2 2022.

Development per goal area

Environmental

Minimising Waste

• In 2022 Boozt supported Re-Zip in the application process for the funding that was successfully granted and the project started in June. Our focus is on developing a circular bag for our automated Fulfilment Centre, providing a sustainable alternative to singleuse packaging. By showcasing the feasibility and benefits of circular packaging, we contribute to the project's objective of driving the industry's transition towards a cost-effective and sustainable circular economy.

Driving Responsible Production

• Higg BRM Foundation pilot project: Boozt together with retailers and brands is supporting the Sustainable Apparel Coalition (SAC) on the development of the Brand & Retail Foundation module. The BRM Foundation is an entry-level sustainability assessment that sets the bar to define a minimum level of expectations on corporate responsibility practices for brands and retailers in the textile and footwear industry.

Employees

Engaging & Healthy Work Environment

• High employee engagement with an aggregated participation rate of 91% in Boozt's monthly employee survey. The resulting Employee Net Promoter Score (eNPS) has improved significantly to a score of 61 (Q2 2022: 39).

Shaping Employee Development

• For the 12th year in a row, our talented tech community came together for Boozt's annual Platform Conference. With 200 talented Boozt developers and engineers in attendance, spread across our five tech hubs in Malmö, Copenhagen, Vilnius, Poznan, and Aarhus, it's been three days of knowledge sharing, innovation, and networking.

Community

Empowering Customers

• Boozt has taken a more proactive approach to data collection due to brands not providing this detailed information. Boozt reached out to the most widely used product certifications to ensure validation of the information provided by brands. By implementing more rigorous criteria and pursuing comprehensive sustainability data, Boozt is dedicated to meeting the demands of responsible consumers and ensuring that our product assortment aligns with the highest sustainability standards.

Involving Community

• Boozt is the official logistics partner for the Royal Run delivering the running shirts and competition numbers to each participant, bringing people together and promoting a healthy and active lifestyle.
• Boozt has participated in Almedalsveckan 2023 - Sweden's political festival, the CFO has joined seminars, engaging panel debates, and meetings on topics such as digital innovation, the importance of collaborative action towards more sustainable consumption and the EU Green Claims Directive.

Engaging Suppliers

• Higg BRM joint effort: Boozt has nominated and contacted 147 brands representing 68% of our business volume to complete the Higg BRM 2022. At this stage, Boozt onboarded and received the data from 68 brands, equivalent to 45% of Boozt's business volume.

Governance

Accelerating Transparency

• Boozt submitted the self-assessment of the Higg Brand and Retail Module (BRM) 2022. The Module is a tool measuring social and environmental supply chain impacts in a standardized way.
• Boozt answered the survey of the sixth edition of the Swedish Corporate Sustainability Ranking. The ranking is conducted by Dagens industri, Aktuell Hållbarhet and Lund University School of Economics and Management. In addition to reviewing corporate reports and homepages, the ranking process includes a survey to assess companies' sustainability practices.

Mitigating Risks

• Boozt has received the highest AAA rating in the MSCI ESG Ratings assessment which places Boozt in the top 6% of its sector. The MSCI ESG Ratings assessment evaluates companies based on their organizational capacity and level of commitment to addressing financially relevant ESG factors. More information about the MSCI rating can be found in the press release here.

Integrating Sustainability

• Boozt's sustainability strategy served as a case study for an internal master thesis project in collaboration with Lund University. Boozt has contributed with in-depth interviews.

Development by segment

BOOZT GROUP

INTERIM FINANCIAL REPORT Q2 2023

PAGE – 12

Net revenue

Net revenue increased 8.1% to SEK 1,380.6 million (1,276.9) in the quarter. The net revenue growth was positively impacted by currency effects from the strengthening of DKK and EUR to SEK compared to the second quarter last year.

The overall market for fashion and lifestyle products in the Nordics continues to be challenged by the pressure on disposable income. The high promotional activity in the market continued from last year, fuelled by high industry inventory levels and more importantly the muted consumer spending on fashion and lifestyle.

The increase in sales was driven by a solid performance across categories and countries. Return rates increased slightly due to product mix within the segment. Within each product subcategory the return rates remain stable. The number of active customers increased slightly compared with last year, positively impacted by the continued marketing investments to retain and gain new customers.

The average order value continued the positive development and increased 5.0% to SEK 896 (853). The continued execution of the Nordic Department Store strategy resulted in a further diversification of sales benefiting the number of items per basket somewhat offset by a slight increase in return rates in the second quarter. Further, the average order value was positively impacted by currency effects.

True frequency improved to 6.8 (6.6) with cohorts displaying encouraging buying patterns despite the ongoing pressure on consumers' disposable income. Customer satisfaction remained at a high level as shown by a Trustpilot score of 4.5 (4.5) and a Net Promoter Score of 74 (75).

For the first six months net revenue increased 10.1% to SEK 2,659.2 million (2,415.6).

Adjusted EBIT and EBIT Adjusted EBIT increased to SEK 67.7 million (63.1) in the quarter, while the adjusted EBIT margin was on level at 4.9% (4.9).

The adjusted EBIT margin continued at a satisfactory level despite inflationary cost pressure that was mainly offset by an improvement in gross margin due to a favourable inventory mix with a higher share of campaign buys.

The adjustment in the quarter amounted to SEK 18.7 million (13.9) and consisted of share-based payments and severance pay related to senior executives.

For the first six months, adjusted EBIT increased to SEK 89.5 million (78.7) with an adjusted EBIT margin of 3.4% (3.3).

EBIT was on par at SEK 49.0 million (49.1) for the quarter. Year-to-date EBIT increased slightly to SEK 54.6 million (53.0).

SEK million	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Change	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Change	Rolling 12 months
Boozt.com
Net revenue	1,380.6	1,276.9	8.1%	2,659.2	2,415.6	10.1%	5,853.9
EBIT	49.0	49.1	-0.2%	54.6	53.0	3.0%	245.0
EBIT margin (%)	3.6%	3.8%	-0.3pp	2.1%	2.2%	-0.1pp	4.2%
Adjusted EBIT*	67.7	63.1	7.3%	89.5	78.7	13.6%	282.6
Adjusted EBIT margin (%)*	4.9%	4.9%	-0.0pp	3.4%	3.3%	0.1pp	4.8%
No. of orders (000)*	1,447	1,413	2.4%	2,744	2,690	2.0%	6,009
True frequency*	6.8	6.6	2.8%	6.8	6.6	2.8%	6.8
Average order value (SEK)*	896	853	5.0%	915	846	8.2%	921
Active customers (000)*	2,503	2,477	1.0%	2,503	2,477	1.0%	2,503
No. of orders per active customer*	2.40	2.35	0.02	2.40	2.35	0.02	2.40

Rounding differences may affect the summations.

*The figure is an Alternative Performance Measure (APM) (non-IFRS), for further information see page 30.

SEK million	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Change	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Change	Rolling 12 months
Boozt.com - Net revenue
Nordics	1,288.6	1,200.6	7.3%	2,476.3	2,246.3	10.2%	5,481.4
- of which Denmark	492.3	439.0	12.2%	952.0	827.2	15.1%	2,036.2
- of which Sweden	470.0	462.8	1.6%	902.4	861.1	4.8%	2,055.8
Rest of Europe	92.0	76.3	20.6%	182.9	169.3	8.1%	372.5
Total Net revenue	1,380.6	1,276.9	8.1%	2,659.2	2,415.6	10.1%	5,853.9

BOOZT GROUP

INTERIM FINANCIAL REPORT Q2 2023

Booztlet.com

Net revenue

Net revenue increased 11.0% to SEK 306.6 million (276.3) in the quarter. Booztlet's growth opportunities were positively impacted by increased access to campaign goods supporting attractive offers to the customers while maintaining a healthy gross margin. The market continues to be impacted by high promotional activity both from online and offline players as a consequence of elevated inventory levels in the industry. On top, management estimates that the core customer group of Booztlet is likely to have experienced a more significant dilution of their disposable income displayed in the increasing number of customers who, on average, shop less.

Management remains positive that the market for a Nordic fashion outlet is very attractive in terms of growth and profitability also for the short to medium term. The ambition for Booztlet is to deliver higher than average growth for the Group with a healthy profitability. At the moment Booztlet has the organisational capacity to secure the right stock and grow the business meaningfully.

Growth in the Nordics amounted to 5.3% mainly impacted by the performance in Sweden. Rest of Europe experienced a growth of 71.6% to SEK 40.5 million.

The average order value increased meaningfully during the second quarter to SEK 873 (791). The positive developments over the last year are mainly driven by an increased number of items per basket as we have broadened our selection along with positive effects from currency translation.

For the first six months net revenue decreased -1.6% to SEK 552.6 million (561.6).

Adjusted EBIT and EBIT Adjusted EBIT amounted to SEK 18.0 million (18.0) in the quarter, and the adjusted EBIT margin decreased to 5.9% (6.5).

The adjusted EBIT was positively impacted by an improved gross margin that was slightly offset by an increased cost base. As communicated in the first quarter of 2023 the Group has taken immediate action to improve the negative profitability of Booztlet in the first quarter this year.

The adjustment in the quarter amounted to SEK 0.9 million (2.4) and consisted fully of share-based payments.

For the first six months, adjusted EBIT amounted to SEK 13.1 million (11.1) with an improved adjusted EBIT margin of 2.4% (2.0).

EBIT improved compared to last year at SEK 17.1 million (15.6) and the EBIT margin was 5.6% (5.6). Year-to-date EBIT increased to SEK 9.1 million (7.0) and the EBIT margin increased to 1.6% (1.2).

SEK million	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Change	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Change	Rolling 12 months
Booztlet.com
Net revenue	306.6	276.3	11.0%	552.6	561.6	-1.6%	1,124.1
EBIT	17.1	15.6	9.9%	9.1	7.0	30.5%	12.1
EBIT margin (%)	5.6%	5.6%	-0.1pp	1.6%	1.2%	0.4pp	1.1%
Adjusted EBIT*	18.0	18.0	-0.1%	13.1	11.1	18.5%	16.0
Adjusted EBIT margin (%)*	5.9%	6.5%	-0.6pp	2.4%	2.0%	0.4pp	1.4%
No. of orders (000)*	339	342	-0.9%	597	686	-13.0%	1,248
Average order value (SEK)*	873	791	10.3%	894	801	11.6%	871
Active customers (000)*	753	733	2.8%	753	733	2.8%	753
No. of orders per active customer*	1.66	1.79	-0.07	1.66	1.79	-0.07	1.66

Rounding differences may affect the summations.

*The figure is an Alternative Performance Measure (APM) (non-IFRS), for further information see page 30.

SEK million	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Change	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Change	Rolling 12 months
Booztlet.com - Net revenue
Nordics	266.1	252.7	5.3%	474.9	504.0	-5.8%	984.6
- of which Denmark	97.5	101.0	-3.5%	168.4	205.2	-17.9%	345.3
- of which Sweden	104.9	97.4	7.6%	187.7	186.8	0.5%	402.3
Rest of Europe	40.5	23.6	71.6%	77.7	57.5	35.1%	139.5
Total Net revenue	306.6	276.3	11.0%	552.6	561.6	-1.6%	1,124.1

BOOZT GROUP

INTERIM FINANCIAL REPORT Q2 2023

Other information

Significant events during the second quarter

Boozt initiates repurchase program of own shares Pursuant to the authorization granted by the annual general meeting on 26 April 2023, the board of directors of Boozt AB ("Boozt") resolved to initiate a repurchase program of own ordinary shares.

The purpose of the repurchase program is to enable Boozt to adapt its capital structure to its capital needs over time and thereby contribute to an increased shareholder value. The intention is currently that the repurchased shares shall be cancelled through resolutions by future general meetings.

• Repurchases shall be made in accordance with Nasdaq Stockholm's Rulebook for Issuers (the "Rulebook").
• Repurchases may be initiated at the earliest on 22 June 2023 and may be made at the longest until the annual general meeting 2024.
• Repurchases may be made at one or several occasions at a price per share within the at each time registered price interval (i.e. the interval between the highest buying price and the lowest selling price) published at Nasdaq Stockholm.
• Repurchases may only be made in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Rulebook.
• The total number of shares that may be repurchased may not result in that the Company's shareholding (including holdings of C-shares) exceeds 10 per cent of the total number of shares in the Company at any given time and the amount to be paid for repurchased shares may in the aggregate not exceed SEK 200 million.
• Payment for shares shall be made in cash.

As per 18 August 2023, the Group has repurchased 151,923 shares amounting to SEK 17.6 million.

Changes in Group Management

On May 16, 2023 it was announced that Sven Thiessen had decided to step down as Chief Supply Chain Officer for the Group. He has been succeeded by Ronni Funch Olsen who has served as Head of Investor Relations and Business Finance for Boozt the past two years. Before joining Boozt, Ronni Funch Olsen spent more than six years with DSV - Global Transport and Logistics. He joined Boozt in April 2021 and Boozt has on an ongoing basis benefitted from his expertise and involvement in business projects related to Boozt logistics. Ronni Funch Olsen started his new role on July 1, 2023 with support from Sven Thiessen until mid August 2023.

Significant events after the reporting date

Exercise of long-term incentive program 2020/2023 On July 3, 2023 a total of 735,359 C shares were converted into ordinary shares and delivered to participants in the longterm incentive program 2020/2023 (LTIP 2020/2023). LTIP 2020/2023 was adopted by the extraordinary general meeting held on July 1, 2020, and was fully vested on June 24, 2022.

Prolonged amortization schedule towards financial partner

The existing financing agreements for the AutoStore automation was prolonged for 2 years to reflect the assessment of extended lifetime of the warehouse automation and to increase the Group's financial flexibility.

Annual General Meeting 2023

The annual general meeting was held on April 26, 2023. The AGM decided that no dividends are paid to the shareholders and that the Company's profit for 2022 are carried forward. The AGM also decided on implementation of a new long-term incentive program (LTIP 2023). More information of the outcome of the Annual General Meeting 2023 is available on the Company's website: https://www.booztgroup.com/annual-general-meeting .

BOOZT GROUP

INTERIM FINANCIAL REPORT Q2 2023

Employees

Number of employees was 1,269 (1,464) at the end of the period equivalent to a decrease of 13.3 % impacted by the right-sizing of the organisation carried out with effect from July 1, 2022 as well as an increased use of consultants at the warehouse to ensure flexibility of the workforce.

Seasonal variances

Seasonal variances affect the Group since purchases are cyclical and inventories are built up before each season. However, each quarter is comparable between years. Traditionally the fourth quarter has the highest net revenue, whereas the first quarter has the lowest. Inventory levels in the industry can be affected by an early or late start to the season impacting the promotional activities needed to clear inventory. To illustrate the long-term development trend the Group reports rolling twelve months' figures, where applicable.

Parent company

Boozt AB (publ), Corp. Id. No. 556793-5183, is the parent company of the Group. Boozt AB (publ) is incorporated and registered in Sweden.

Since May 31, 2017, Boozt AB (publ) has been listed on Nasdaq Stockholm and since November 20, 2020, secondary listed on Nasdaq Copenhagen. Since January 3, 2022, Boozt AB (publ) has been traded on Nasdaq Large Cap. The address to the head office is Hyllie Boulevard 35, 215 37 Malmö, Sweden.

Net revenue of the parent company amounted to SEK 37.3 million (19.4) during the quarter. The parent company has invoiced fees for management services in accordance with the Group's intra-company agreements to other Group companies during the period. Costs for the period are mainly attributable to costs related to personnel costs for the Group Management and remuneration to the Board of Directors. The result for the quarter totalled SEK 11,1 million (-5.5) and SEK 0.0 million (0.0) year-to-date.

Risks and uncertainties

Boozt has developed a risk management framework with the purpose to strengthen the structure of how risk management is carried out throughout the Group. Identified risks are reviewed by the Board of Directors continuously. No recognisable risk for the Group's ability to continue as a going concern has been identified. All identified risks as well as the risk management process is described in the Group's Annual Report 2022 on pages 36-38. No additional risk has been identified as of June 30, 2023.

The Boozt share

The Boozt share is listed on Nasdaq Stockholm with secondary listing on Nasdaq Copenhagen. The Boozt share is traded on Nasdaq Stockholm under the ticker BOOZT and Nasdaq Copenhagen under the ticker BOOZT DKK. The ISIN-code for the Boozt share is SE0009888738.

The combined average turnover of the Boozt share on Nasdaq Stockholm and Nasdaq Copenhagen was 143,973 shares per day during the second quarter compared to 368,257 shares per day in the second quarter last year. As per August 18, 2023, the company had around 17,000 shareholders, whereof the largest shareholders were BLS Capital (24.5%), Ferd (12.1%), Invesco (5.6%), ATP (5.2%), Norges Bank (3.9%) and Första AP-Fonden (3.6%).

The market value for the Company as per June 30, 2023 amounted to SEK 7,930 million. The total number of shares at the end of the reporting period amounted to 68,289,488, whereof 2,480,226 C shares are held in own custody. 821,851 C shares were issued and repurchased during the quarter under LTIP 2022/2025 pursuant to the authorization by the annual general meeting on April 27, 2022. More information of the Group's share capital can be found in the Annual report 2022 on page 107. Beyond shares, the Company has issued long-term incentive programs where participants can receive or have the right to receive or acquire shares under specific terms and conditions.

Long-term incentive program

The Group has currently three ongoing long-term incentive programs directed to senior executives and key employees within the Group. LTIP 2021/2024, LTIP 2022/2025 and LTIP 2023/2026 are performance share programs where the maximum number of shares that can be granted to the participants amounts to 2,480,000. During the second quarter LTIP 2020/2023 was fully vested and consequently 735,359 shares were allotted to the participants.

The programs contain different performance criterions and constraints. More information of the Groups long-term incentive programs can be found in the Annual report 2022 on pages 99-100.

Related party transactions

Boozt's related parties and the extent of transactions with its related parties are described in Note 26 in the Annual Report 2022. No material changes occurred during the quarter or the year for the Group or the parent company in relations or extent of transactions with its suppliers, classified as related parties, compared with the disclosures in the Annual Report 2022.

There have not been any transactions with members of Group Management during the quarter.

Outlook for 2023

The Group expects a net revenue growth for 2023 in the range of 7.5-12.5% (5-15%) and an adjusted EBIT between SEK 300-350 million (SEK 275-375 million).

The Adjusted EBIT outlook for 2023 is positively impacted by a reassessment of the useful lives of selected parts of the Group's fixed assets that mainly relates to the AutoStore installations. The reassessment is carried out to better reflect the actual useful life on a component level based on the experience obtained after operating our AutoStore setup for the past six years. In addition, we have performed a benchmark for companies operating similar setups.

The conclusion based on our own experience in combination with the benchmark is that the AutoStore components have a longer useful life than what our assessment previously reflected. By extending the useful lives, the Group assesses a higher degree of comparability of EBIT towards industry peers. In conclusion, the positive impact on yearly depreciation on a like-for-like basis is in the level SEK 25 million, compared to 2022.

The priority is a continued high investment in growth as well as a further strengthening of the customer experience, while maintaining solid profitability driven by a sustainable high average order value and further cementing the position as the leading Nordic Department Store.

The outlook for 2023 assumes that the exchange rates will remain at the current level.

Long-term growth and profitability ambitions

In connection with the Capital Markets Day on March 28, 2023 the group announced new long-term ambitions for growth and profitability.

Long-term growth and profitability ambitions:

• Market share around 10% of the fashion and lifestyle market in the Nordics
• Profitability: Adjusted EBIT margin exceeding 10%

Boozt has successfully managed to grow net revenue significantly faster than the Nordic market since 2017. The market in the Nordics remains attractive and the company expects to continue the accelerated market share gains supported by the position as the leading Nordic Department Store.

The company expects that when the Group's growth rate is in line with the general online fashion and lifestyle market growth in the Nordics, that its business model with best-in-industry unit economics will result in double-digit margins and strong cash generation.

Consolidated income statement Consolidated statement of

comprehensive income

SEK million unless otherwise indicated Note	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Rolling 12 month
OPERATING INCOME
Net revenue 2	1,687.2	1,553.2	3,211.9	2,977.2	6,978.1
Other operating income	0.0	0.5	0.0	8.1	0.0
Total operating income	1,687.2	1,553.7	3,211.9	2,985.3	6,978.1
OPERATING COSTS
Goods for resale	-974.3	-911.3	-1,912.6	-1,775.8	-4,213.4
Other external costs	-385.4	-340.6	-723.8	-681.8	-1,562.2
Cost of personnel	-196.0	-182.8	-374.2	-359.3	-690.5
Depreciation and amortisation of tangible and intangible assets	-63.0	-54.3	-123.9	-108.5	-237.9
Other operating costs	-2.4	-	-13.6	-	-17.2
Total operating costs	-1,621.1	-1,489.0	-3,148.2	-2,925.5	-6,721.2
2 OPERATING PROFIT (EBIT)	66.1	64.6	63.6	59.9	256.9
FINANCIAL INCOME AND EXPENSES
Financial income	5.5	-	11.2	0.1	16.1
Financial expenses 3	-10.4	-5.4	-19.4	-9.5	-31.9
Net financial items	-4.9	-5.4	-8.2	-9.4	-15.8
PROFIT BEFORE TAX 2	61.2	59.2	55.4	50.4	241.0
Income tax	4.8	-13.1	5.7	-11.9	-32.4
PROFIT FOR THE PERIOD	66.1	46.1	61.1	38.5	208.7
ATTRIBUTABLE TO:
Average number of shares (000)	68,289	67,468	67,899	67,280	67,682
Average number of shares after dilution (000)	69,015	67,901	68,672	67,700	68,493
Earnings per share (SEK)	0.97	0.68	0.90	0.57	3.08
Earnings per share after dilution (SEK)	0.96	0.68	0.89	0.57	3.05

SEK million	Note	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Rolling 12 month
RESULT FOR THE PERIOD		66.1	46.1	61.1	38.5	208.7
ITEMS THAT MAY BE RE-CLASSIFIED TO THE INCOME STATEMENT:
Translation differences		-10.6	13.6	-0.1	16.4	14.1
TOTAL COMPREHENSIVE PROFIT FOR THE PERIOD		55.5	59.7	61.0	55.0	222.8
ATTRIBUTABLE TO
Parent company's shareholders		55.5	59.7	61.0	55.0	222.8
Non-controlling interest		-	-	-	-	0

Rounding differences may affect the summations.

BOOZT GROUP

Consolidated statement of financial position

SEK million unless otherwise indicated Note	Jun 30, 2023	Jun 30, 2022	Dec 31, 2022	SEK million unless otherwise indicated	Note	Jun 30, 2023	Jun 30, 2022	Dec 31, 2022
ASSETS				EQUITY AND LIABILITIES
Non-current assets				EQUITY
Intangible assets				Share capital		5.7	5.6	5.6
Trademarks 4	99.0	90.0	93.6	Other capital contributions		2,256.0	2,238.6	2,234.4
Goodwill 4	317.2	287.6	299.8	Reserves		39.4	20.2	34.6
Web platform 4	185.0	148.7	164.6	Retained earnings including profit for the period		319.5	80.4	227.9
	601.3	526.3	558.0	Equity attributable to parent company		2,620.6	2,344.7	2,502.6
Tangible assets				shareholders
Right of use asset	522.9	482.3	526.1
Machinery and equipment 4	828.1	826.7	866.5	Non-controlling interest
	1,350.9	1,309.0	1,392.6	Non-controlling interest		-	-	0.0
Financial assets				Total equity		2,620.6	2,344.7	2,502.6
Deposits	8.8	8.6	8.0
Shares in associated companies	28.2	20.5	27.2
Deferred tax asset	21.2	6.5	6.3	Non-current liabilities
	58.2	35.6	41.5	Non-current interest bearing liabilities	3	374.7	414.2	402.1
Total non-current assets	2,010.4	1,870.9	1,992.1	Non-current lease liabilities	3	454.1	420.5	457.4
				Other non-current liabilities	3	-	-	0.2
Current assets				Other non-current provisions	3	38.0	29.6	30.1
Inventory	2,152.3	1,803.4	2,038.6	Deferred tax liabilities		20.0	18.2	18.6
Accounts receivable 3	35.9	33.5	30.3	Total non-current liabilities		886.9	882.6	908.4
Other receivables 3	110.5	66.0	68.7
Current tax receivables	3.6	5.3	1.7	Current liabilities
Prepaid expenses and accrued income	104.2	87.4	83.5	Current interest bearing liabilities	3	96.4	201.0	168.0
Cash and cash equivalents 3	901.0	1,038.0	1,777.2	Current lease liabilities	3	82.6	72.8	81.1
Total current assets	3,307.6	3,033.6	4,000.1	Accounts payable	3	965.1	805.4	1,384.9
TOTAL ASSETS	5,318.0	4,904.5	5,992.2	Current tax liabilities		30.5	53.5	82.1
				Other liabilities	3	268.7	186.9	386.2
				Accrued expenses and prepaid income		366.9	357.6	478.9

Total current liabilities 1,810.2 1,677.2 2,581.1

BOOZT GROUP

INTERIM FINANCIAL REPORT Q2 2023

PAGE – 18

Consolidated statement of changes in equity

SEK million	Share capital	Other capital contributions	Reserves	Profit brought forward incl. period's profit/loss for the year	Total equity attributable to parent company shareholders	Non-controlling interest	Total equity
Equity brought forward Jan 1, 2022	5.6	2,201.9	3.6	-34.6	2,176.5	121.1	2,297.7
Profit for the period	-	-	-	38.5	38.5	-	38.5
Other comprehensive income	-	-	16.4	-	16.4	-	16.4
COMPREHENSIVE PROFIT/LOSS FOR THE PERIOD	0.0	0.0	16.4	38.5	55.0	0.0	55.0
Share capital increase	-	-	-	-	-	-	-
Sharebased compensation	-	36.6	-	-	36.6	-	36.6
Acquisition of minority shares	-	-	-	76.6	76.6	-121.1	-44.6
Total transaction with owners	0.0	36.6	0.0	76.6	113.2	-121.1	-7.9
Equity carried forward Jun 30, 2022	5.6	2,238.6	20.1	80.4	2,344.7	0.0	2,344.7

SEK million	Share capital	Other capital contributions	Reserves	Profit brought forward incl. period's profit/loss for the year	Total equity attributable to parent company shareholders	Non-controlling interest	Total equity
Equity brought forward Jan 1, 2023	5.6	2,229.6	39.4	227.9	2,502.6	0.0	2,297.7
Profit for the period	-	-	-	44.0	44.0	-	44.0
Other comprehensive income	-	-	-	47.7	47.7	-	47.7
COMPREHENSIVE PROFIT/LOSS FOR THE PERIOD	0.0	0.0	0.0	91.7	91.7	0.0	91.7
Share capital increase	0.1	-	-	-0.1	-	-	-
Sharebased compensation	-	28.8	-	-	28.8	-	28.8
Share buyback	-	-2.4	-	-	-2.4	-	-2.4
Total transaction with owners	0.1	26.4	0.0	-0.1	26.4	0.0	26.4
Equity carried forward Jun 30, 2023	5.7	2,256.0	39.4	319.5	2,620.6	0.0	2,620.6

Rounding differences may effect the summations

BOOZT GROUP

INTERIM FINANCIAL REPORT Q2 2023

Consolidated statement of cash flow

SEK million	Note	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Rolling 12 month
CASH FLOW FROM OPERATING ACTIVITIES BEFORE CHANGES IN WORKING CAPITAL
Operating profit		66.1	63.7	63.6	58.9	256.5
Adjustments for non-cash items:
Non-cash remuneration from share based payments (social charges)		2.8	-12.0	8.0	-21.3	12.6
Non-cash remuneration from share based payments		12.2	18.8	26.4	36.6	17.5
Change in other provisions		63.2	-	123.7	-0.1	184.0
Depreciation		-2.2	54.3	-2.1	108.5	-8.3
Other items not included in cash flow		-1.4	-0.3	-1.0	-0.8	-1.0
Interest received		9.9	-	15.5	0.1	20.4
Interest paid	3	-13.4	-5.8	-22.8	-9.9	-34.9
Paid income tax		-12.6	3.3	-62.0	24.8	-67.9
CASH FLOW FROM OPERATING ACTIVITIES BEFORE CHANGES IN WORKING CAPITAL		124.7	121.9	149.4	196.9	378.9
CASH FLOW FROM CHANGES IN WORKING CAPITAL
Changes in inventory		108.9	225.0	-112.6	-71.2	-346.9
Changes in current assets		-24.3	89.1	-65.3	61.4	-58.5
Changes in current liabilities		-190.2	-444.6	-650.4	-337.6	245.5
Cash flow from changes working capital		-105.5	-130.6	-828.3	-347.4	-159.9
CASH FLOW FROM OPERATING ACTIVITIES		19.2	-8.6	-678.9	-150.6	219.0

SEK million	Note	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Rolling 12 month
CASH FLOW FROM INVESTING ACTIVITIES
Acquisition of subsidiaries, net liquidity effect	4	-1.4	-22.7	-2.5	-186.6	-9.2
Investments in fixed assets	4	-3.0	-180.2	-11.7	-357.7	-87.7
Change in financial assets	4	-0.4	-0.3	-0.6	-0.3	0.3
Investments in intangible assets	4	-24.5	-17.3	-48.1	-35.9	-88.8
CASH FLOW FROM INVESTING ACTIVITIES	4	-29.3	-220.4	-62.8	-580.5	-185.4
CASH FLOW FROM FINANCING ACTIVITIES
Share capital increases		4.2	-	5.2	-	5.2
New loans		-	216.6	-	384.1	0.0
Repayments of loans		-38.0	-50.3	-99.0	-142.1	-144.1
Repayments of lease liability		-22.3	-19.5	-44.1	-38.6	-37.7
CASH FLOW FROM FINANCING ACTIVITIES		-56.1	146.8	-137.9	203.3	-176.6
Cash flow for the period		-66.3	-82.2	-879.6	-527.8	-143.0
Currency exchange gains/losses in cash and cash equivalents		2.7	1.4	3.3	0.9	6.0
Cash and cash equivalents beginning of period		964.6	1,118.9	1,777.2	1,564.9	1,038.0
CASH AND CASH EQUIVALENTS END OF PERIOD		901.0	1,038.0	901.0	1,038.0	901.0

Rounding differences may affect the summations.

Note 1 - Accounting principles

The report is prepared in accordance with IAS 34 Interim Financial Reporting and the Swedish annual Accounts Act. Information required by IAS 34 p.16 A is provided in notes and other sections in the interim report. The accounting principles and calculations method have remained unchanged from those applied in the 2022 Annual Report. Amended or new standards taking effect from January 1, 2023 have not had any material impact on the Group's financial reports for the period.

The Group has carried out a reassessment of the useful lives of selected parts of the Group's fixed assets that mainly relates to the AutoStore installations. The reassessment is carried out to better reflect the actual useful life on a component level based on the experience obtained after operating our AutoStore setup for the past six years. In addition, we have performed a benchmark for companies operating similar setups.

By extending the useful lives, the Group assesses a higher degree of comparability of EBIT towards industry peers. In conclusion, the positive impact on yearly depreciation on a like-for-like basis is in the level SEK 25 million, compared to 2022. The impact for the second quarter of 2023 is SEK 6.25 million and SEK 12.5 million for the first half year of 2023.

Important estimates and assessments

Preparation of the financial reports in accordance with IFRS requires management to make assessments and estimates and assumptions that affect application of the accounting policies and the recognised amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates. Estimates and assumptions are continually evaluated. Changes in estimates are recognised in the period the change is made if the change only affected that period or in the period the change is made and in future periods if the change affects both current and future periods.

Important estimates and assessments are disclosed in the 2022 Annual Report on page 95.

Parent company

For the Parent Company Boozt AB (publ), the financial statements have been prepared in accordance with the Swedish Annual Accounts Act and the Swedish Financial Reporting Board's recommendation RFR 2 Accounting for Legal Entities. The reporting currency is SEK and all figures in the interim report are rounded to the nearest million with one decimal point.

Note 2 - Segment reporting

SEK million	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Change	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Change	Rolling 12 month
NET REVENUE
Boozt.com	1,380.6	1,276.9	103.7	2,659.2	2,415.6	243.6	5,853.9
Booztlet.com	306.6	276.3	30.3	552.6	561.6	-8.9	1,124.1
TOTAL NET REVENUE	1,687.2	1,553.2	134.0	3,211.8	2,977.2	234.6	6,978.0
EBIT
Boozt.com	49.0	49.1	-41.1	54.6	53.0	-41.1	245.0
Booztlet.com	17.1	15.6	1.5	9.1	7.0	2.1	12.1
TOTAL EBIT	66.1	64.7	-63.0	63.7	60.0	-63.0	257.0
EARNINGS BEFORE TAX
Boozt.com	41.5	44.7	-3.2	44.2	45.2	-1.1	228.1
Booztlet.com	20.7	14.7	6.1	12.2	5.3	6.9	14.0
EARNINGS BEFORE TAX	62.2	59.3	2.9	56.4	50.5	5.8	242.2

Rounding differences may affect the summations.

Note 3 - Financial instruments

Jun 30, 2022	Finacial assets valued at amortised cost	Finacial liabilities valued at amortised cost	Financial instruments measured at fair value via income statement	Total carrying amount	Fair value
Financial assets
Deposits	8.6	-	-	8.6	8.6
Accounts receivables	33.5	-	-	33.5	33.5
Other receivables	64.5	-	1.5	66.0	66.0
Cash and cash equivalents	1,038.0	-	-	1,038.0	1,038.0
Total financial assets	1,144.6	0.0	1.5	1,146.1	1,146.1
Financial liabilities
Liabilities to credit institutions	-	615.2	-	615.2	615.2
Accounts payables	-	805.4	-	805.4	805.4
Other liabilities	-	182.8	6.1	188.9	188.9
Lease liabilities	-	493.4	-	493.4	493.4
Total financial liabilities	0.0	2,096.8	6.1	2,102.9	2,102.9

Jun 30, 2023	Finacial assets valued at amortised cost	Finacial liabilities valued at amortised cost	Financial instruments measured at fair value via income statement	Total carrying amount	Fair value
Financial assets
Deposits	8.8	-	-	8.8	8.8
Accounts receivables	35.9	-	-	35.9	35.9
Other receivables	110.5	-	0.1	110.5	110.5
Cash and cash equivalents	901.0	-	-	901.0	901.0
Total financial assets	1,056.1	0.0	0.1	1,056.2	1,056.2
Financial liabilities
Liabilities to credit institutions	-	96.4	-	96.4	96.4
Accounts payables	-	965.1	-	965.1	965.1
Other liabilities	-	268.7	2.3	271.0	271.0
Lease liabilities	-	536.7	-	536.7	536.7
Total financial liabilities	0.0	1,866.9	2.3	1,869.2	1,869.2

Calculation of fair value

The Group has derivative instruments that comprise of foreign exchange forward used for hedging purposes, which are measured at fair value according to Level 2 of the valuation hierarchy. Derivative assets amount to SEK 0.0 million (1.2). Other financial liabilities measured at fair value via income statement consists of earn-out from acquisitions of operations of SEK 2.3 million (6.1), of which some parts are conditional. Other financial liabilities measured at fair value can be found at Level 3 of the valuation hierarchy. The Group's other financial assets and liabilities are considered to be close to the carrying amount, after which the carrying amount is estimated to be the same as the fair value. For a more detailed description of the Group's classification and valuation of financial instruments please see Note 1 on page 94 and Note 28 on page 111 in the Annual Report 2022.

SEK million	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022		Jun 30, 2023 Jun 30, 2022	Rolling 12 months
Interest Income	5.5	-	11.2	0.1	16.1
Interest expenses	-9.7	-3.4	-15.0	-5.6	-23.5
Interest expense leases	-0.7	-2.0	-4.4	-3.9	-8.4
Net change in value of liabilities measured at fair value via income statement	-	-	-1.0	-	-1.0
Total net financial items	-5.9	-5.4	-9.2	-9.4	-16.8

Note 4 - Investments

SEK million	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022	Rolling 12 months
Acquisition of fixed assets (other capex)	-3.0	-6.0	-11.7	-8.6	-87.8
Acquisition of fixed assets (warehouse capex)	-	-174.2	-	-349.1	-
	-3.0	-180.2	-11.7	-357.7	-87.8
Acquisition of subsidiaries	-1.4	-22.7	-2.5	-186.6	-9.2
Change in financial assets	-0.4	-0.3	-0.6	-0.3	0.3
	-1.9	-22.9	-3.0	-186.9	-8.9
Acquisition of intagible assets (capitalised development costs)	-22.5	-16.5	-43.9	-33.6	-83.5
Acquisition of intagible assets (other)	-2.0	-0.8	-4.2	-2.3	-5.2
	-24.5	-17.3	-48.1	-35.9	-88.8
Cash flow from investments	-29.4	-220.4	-62.8	-580.5	-185.4

• Acquisition of fixed assets (warehouse capex) relates to the expansion phases of AutoStore at the Fulfilment Centre.

• Acquisition of subsidiaries relates to the acquisition of the remaining shares in Nordic Brand Hub A/S (former Everyday Luxury Feeling A/S).

• Acquisition of intangible assets relates to capitalised development costs on the Group's own developed platforms.

Parent company income statement

SEK million unless otherwise indicated	Apr 1 - Jun 30, 2023	Apr 1 - Jun 30, 2022	Jan 1 - Jun 30, 2023	Jan 1 - Jun 30, 2022
OPERATING INCOME
Net revenue	37.3	19.4	54.0	37.2
Total operating income	37.3	19.4	54.0	37.2
OPERATING COSTS
Other external costs	-3.0	-2.4	-5.0	-4.4
Cost of personnel	-33.9	-24.2	-62.6	-46.9
Total operating costs	-36.8	-26.6	-67.6	-51.3
OPERATING PROFIT (EBIT)	0.4	-7.2	-13.5	-14.1
FINANCIAL INCOME AND EXPENSES
Financial expenses	26.7	-0.0	26.7	0.0
Net financial items	26.7	-0.0	26.7	0.0
PROFIT AFTER FINANCIAL ITEMS	27.2	-7.2	13.2	-14.1
Group contributions	-13.2	14.1	-13.2	14.1
RESULT BEFORE TAX	14.0	6.9	-0.0	0.0
Income tax	-2.9	-1.4	0.0	0.0
PROFIT FOR THE PERIOD	11.1	5.5	-0.0	0.0

Rounding differences may affect the summations.

Parent company financial position

SEK million	Jun 30, 2023	Jun 30, 2022	Dec 31, 2022
ASSETS
Non-current assets
Shares in Group companies	831.1	1,138.1	1,138.1
Shares in associated companies	27.2	20.5	27.2
Total non-current assets	858.4	1,158.6	1,165.3
Current assets
Other receivables	0.4	0.4	0.4
Receivables from Group companies	1,076.6	792.2	796.9
Current tax assets	0.1	0.1	0.1
Prepaid expenses and accrued income	0.6	0.7	0.2
Cash and cash equivalents	42.2	4.6	4.5
Total current assets	1,119.9	798.0	802.0
TOTAL ASSETS	1,978.3	1,956.6	1,967.4
SEK million	Jun 30, 2023	Jun 30, 2022	Dec 31, 2022
EQUITY AND LIABILITIES
Equity
Restricted equity
Share capital	5.6	5.6	5.6
	5.6	5.6	5.6
Unrestricted equity
Share premium reserve	2,151.6	2,140.2	2,136.4
Retained earnings	-265.8	-266.5	-266.5
Earnings for the period	0.0	0.0	0.7
	1,885.8	1,873.7	1,870.6
TOTAL EQUITY	1,891.4	1,879.3	1,876.2

SEK million	Jun 30, 2023	Jun 30, 2022	Dec 31, 2022
LIABILITIES
Non-current liabilities
Other provisions	24.4	14.9	19.0
Total non-current liabilities	24.4	14.9	19.0
Current liabilities
Accounts payable	0.5	0.5	0.4
Liabilities to Group companies	37.8	37.8	37.8
Other liabilities	4.6	4.2	8.0
Accrued expenses and prepaid income	19.7	19.8	26.0
Total current liabilities	62.5	62.3	72.1
TOTAL LIABILITIES	86.9	77.3	91.1
TOTAL EQUITY AND LIABILITIES	1,978.3	1,956.6	1,967.4

BOOZT GROUP

Audit This report has not been subject to a limited review by the Group's auditors.

Signatures

The undersigned certify that this interim report gives a true and fair overview of the Parent Company's and the Group's operations, financial position, performance and describes the material risks and uncertainties facing the Parent Company and the companies in the Group.

Malmö, August 18, 2022

HENRIK THEILBJØRN AILEEN O'TOOLE BENJAMIN BÜSCHER Chairman of the Board Board member Board member

CECILIA LANNEBO JÓN BJÖRNSSON JULIE WIESE Board member Board member Board member

HERMANN HARALDSSON GROUP CEO

Additional information

BOOZT GROUP

INTERIM FINANCIAL REPORT Q2 2023

PAGE – 27

Information by quarter

SEK million unless otherwise indicated	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021	Q4 2020	Q3 2020
NET REVENUE
Boozt.com	1,380.6	1,278.6	2,078.6	1,116.1	1,276.9	1,138.8	1,697.9	1,031.8	1,270.8	937.6	1,247.9	796.2
Booztlet.com	306.6	246.1	359.5	212.0	276.3	285.3	270.0	200.3	205.5	199.8	177.3	143.9
NET REVENUE	1,687.2	1,524.6	2,438.1	1,328.1	1,553.2	1,424.0	1,967.9	1,232.1	1,476.3	1,137.4	1,425.1	940.1
OPERATING PROFIT/LOSS (EBIT)
Boozt.com	49.0	5.5	158.4	32.0	49.1	3.8	113.1	11.1	67.4	44.9	85.4	37.1
Booztlet.com	17.1	-8.0	-0.5	3.5	15.6	-8.6	4.9	-3.7	13.5	13.3	16.6	10.8
OPERATING PROFIT/LOSS (EBIT)	66.1	-2.5	157.9	35.5	64.7	-4.8	117.9	7.4	80.9	58.3	102.0	47.9
OPERATING PROFIT/LOSS (EBIT) %
Boozt.com	3.6%	0.4%	7.6%	2.9%	3.8%	0.3%	6.7%	1.1%	5.3%	4.8%	6.8%	4.7%
Booztlet.com	5.6%	-3.3%	-0.2%	1.7%	5.6%	-3.0%	1.8%	-1.8%	6.6%	6.7%	9.4%	7.5%
OPERATING PROFIT/LOSS (EBIT) %	3.9%	-0.2%	6.5%	2.7%	4.2%	-0.3%	6.0%	0.6%	5.5%	5.1%	7.2%	5.1%
EARNINGS BEFORE TAX
Boozt.com	41.5	2.3	156.5	27.6	44.7	0.6	106.8	5.8	65.2	42.1	81.5	35.4
Booztlet.com	20.7	-8.6	-0.9	2.7	14.7	-9.3	3.8	-3.7	12.2	12.7	17.5	8.8
EARNINGS BEFORE TAX	62.2	-6.3	155.7	30.2	59.3	-8.8	110.7	2.1	77.4	54.8	99.0	44.2
ADJUSTED EBIT
Boozt.com	67.7	21.8	169.6	23.5	63.1	15.7	140.7	25.6	84.6	53.6	120.1	55.8
Booztlet.com	18.0	-4.9	1.0	1.9	18.0	-6.9	8.8	-1.3	15.5	15.1	20.6	13.8
ADJUSTED EBIT	85.6	17.0	170.7	25.3	81.0	8.8	149.5	24.3	100.1	68.7	140.7	69.7
ADJUSTED EBIT %
Boozt.com	4.9%	1.7%	8.2%	2.1%	4.9%	1.4%	8.3%	2.5%	6.7%	5.7%	9.6%	7.0%
Booztlet.com	5.9%	-2.0%	0.3%	0.9%	6.5%	-2.4%	3.3%	-0.6%	7.5%	7.6%	11.6%	9.6%
ADJUSTED EBIT %	5.1%	1.1%	7.0%	1.9%	5.2%	0.6%	7.6%	2.0%	6.8%	6.0%	9.9%	7.4%

Rounding differences may affect the summations.

BOOZT GROUP

INTERIM FINANCIAL REPORT Q2 2023

Information by quarter

SEK million unless otherwise indicated	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021	Q4 2020	Q3 2020
EBIT MARGIN (%)
Gross margin (%)	42.3%	38.5%	38.3%	40.1%	41.3%	39.3%	41.0%	40.4%	39.9%	40.3%	43.0%	42.8%
Fulfillment cost ratio (%)	-11.2%	-12.1%	-10.5%	-11.6%	-11.4%	-12.6%	-12.1%	-12.2%	-11.4%	-11.1%	-11.0%	-11.6%
Marketing cost ratio (%)	-11.1%	-10.0%	-10.7%	-11.4%	-11.0%	-11.0%	-10.2%	-12.0%	-9.6%	-10.6%	-10.1%	-11.4%
Admin & other cost ratio (%)	-12.3%	-12.5%	-8.2%	-10.3%	-11.3%	-12.2%	-10.4%	-12.0%	-10.8%	-10.1%	-12.4%	-11.5%
Depreciation (%)	-3.7%	-4.0%	-2.4%	-4.2%	-3.5%	-3.8%	-2.4%	-3.5%	-2.6%	-3.3%	-2.3%	-3.3%
EBIT MARGIN (%)	3.9%	-0.2%	6.5%	2.7%	4.2%	-0.3%	6.0%	0.6%	5.5%	5.1%	7.2%	5.1%
Adjusted admin & other cost ratio (%)	-11.1%	-12.5%	-7.7%	-11.0%	-10.2%	-11.3%	-8.8%	-10.7%	-9.5%	-9.2%	-9.7%	-9.1%
Net working capital - percent of LTM net revenue	11.1%	9.7%	-1.6%	8.4%	9.6%	7.7%	4.8%	9.7%	7.5%	7.8%	1.7%	0.3%
BOOZT.COM
No. of orders (000)	1,447	1,297	2,081	1,184	1,413	1,277	1,943	1,200	1,574	1,163	1,543	982
True frequency	6.8	6.9	5.8	7.0	6.6	6.9	5.9	6.9	6.3	6.7	6.0	7.1
Average order value (SEK)	893	938	959	872	853	838	837	807	803	815	819	808
Active customers (000)	2,503	2,508	2,503	2,471	2,477	2,531	2,503	2,331	2,257	2,158	2,043	1,852
No. of orders per active customer	2.40	2.38	2.38	2.35	2.35	2.37	2.35	2.35	2.33	2.32	2.30	2.33
BOOZTLET.COM
No. of orders (000)	339	258	404	247	342	345	361	264	292	277	255	209
Average order value (SEK)	872	920	861	833	791	810	723	714	669	705	640	666
Active customers (000)	753	748	775	738	733	691	657	594	564	539	469	396
No. of orders per active customer	1.66	1.67	1.73	1.75	1.79	1.83	1.82	1.83	1.83	1.81	1.79	1.78
NET REVENUE - GEOGRAPHICAL SPLIT
Nordics	1,288.6	1,187.6	1,944.5	1,060.6	1,200.6	1,045.8	1,560.1	969.6	1,181.5	873.5	1,158.1	743.4
- of which Denmark - of which Sweden	492.3 470.0	459.7 432.3	694.8 724.1	389.4 429.4	439.0 462.8	388.3 398.3	600.1 557.8	363.0 379.1	443.5 435.4	368.9 300.7	465.1 431.2	262.1 291.8
Rest of Europe	398.6	337.0	493.6	267.5	352.6	378.2	407.9	262.5	294.8	264.0	258.2	187.4
TOTAL NET REVENUE	1,687.2	1,524.6	2,438.1	1,328.1	1,553.2	1,424.0	1,968.0	1,232.1	1,476.3	1,137.4	1,416.3	930.8

Rounding differences may affect the summations.

BOOZT GROUP

INTERIM FINANCIAL REPORT Q2 2023

PAGE – 29

Definitions and rationale for the use of certain Alternative Performance Measures (APM)

The quarterly report contains certain performance measures that are not defined in accordance with IFRS (alternative performance measures). The performance measures included are used by investors, securities analysts and other stakeholders as additional measures of performance and financial position. The Group's alternative performance measures are not necessarily comparable to similar measurements presented by other companies and have certain limitations as analytical tools. They should therefore not be considered separately from, or as a substitute for, the Group's financial information prepared in accordance with IFRS.

Definitions, calculations, and rationale behind the use of included alternative performance measures are available on the Group's website www.booztgroup.com/reports-and-presentations, "Q2 Report 2023" – "Key financials".

Financial calendar

November 7, 2023 Interim report January-September 2023

February 8, 2024 Year-end report January-December 2023

March 22, 2024 Annual report 2023

Financial reports

Consolidated financial statements are available at www.booztgroup.com. Boozt AB (publ) is a public limited company. In case of enquiries or questions to the Group, please contact:

Ronni Funch Olsen, Head of Investor Relations rofo@boozt.com / +45 31 22 04 56

or

Sandra Gadd, Group CFO sga@boozt.com / +46 768 27 61 18

The interim report is such information as Boozt AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on August 18, 2023.

This report may contain forward-looking information that is based on the present expectations of Boozt's management. No assurance may be given that these expectations will prove to be correct. Actual outcomes may deviate significantly from what is reflected in the forward-looking information due to changed conditions relating to the economy, market or competition, changes in legal requirements and other political measures, fluctuations in exchange rates and other factors outside of Boozt's control.

Contact details

Adress: Hyllie Boulevard 35 215 37 Malmö, Sweden Phone: +46 40 12 80 05

E-mail: info@boozt.com www.booztgroup.com

Org. nr: 556793-5183 VAT nr: SE556793518301