Kvartalsrapport Q1 2025

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===== SIDA 1 =====

Interim 
Financial Report 
Q1 2025
January 1 - March 31, 2025

===== SIDA 2 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _2
Table of content
Highlights
Q1 2025 summary......................................................................................3
Key figures and ratios...............................................................................4
Investment case.........................................................................................5
Business review
Financials..................................................................................................... 7
Outlook 2025.............................................................................................12
Other information.....................................................................................13
Financial statements
Consolidated financial statements..................................................... 15
Accounting notes.....................................................................................19
Parent company financial statements............................................... 22
Additional information
Definitions of financial performance measures..............................25
Financial calendar...................................................................................26

===== SIDA 3 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _3
Q1 2025 summary
Financial performance
• Net revenue in Q1 2025 increased by 2% (or 3% in local 
currency) to SEK 1,652 million (SEK 1,614 million in Q1 2024). 
The fashion and lifestyle market in the Nordic regions remains 
challenging with customers being increasingly hesitant to 
spend. Growth was driven by Booztlet.com (18%), which 
continues to benefit from the price initiative started in Q3 
2024. Revenue from Boozt.com was slightly down in the 
quarter (-1%).
• The customer base continued to expand, with active 
customers increasing by 7% across Boozt.com and 
Booztlet.com, reaching 3.8 million customers. This was 
supported by the continued solid momentum on Booztlet.
• Adjusted EBIT increased by 91% compared with Q1 2024 to 
SEK 38 million (20). The adjusted EBIT margin increased by 
1.1 percentage points to 2.3% (1.2%). The improvement was 
primarily driven by a better fulfilment cost ratio following the 
implementation of transfer cells at the fulfilment centre in 
2024, as well as the customs exemption secured in Norway 
last year.
• Cash flow for the quarter was SEK -780 million (-776), while 
free cash flow improved to SEK -619 million (-685). Cash flow 
in Q1 is typically low, largely due to increased net working 
capital as inventory is built in preparation for the spring/
summer season.
• In Q1 2025, Boozt repurchased 1,097 ,500 shares for 
SEK 134 million, completing the current share buyback 
programme, which totalled SEK 198 million. Under the 
mandate granted at the AGM, the Board of Directors intends 
to launch a new share buyback programme within weeks, 
pending a formal resolution.
• The outlook for 2025 has been revised to reflect heightened 
market uncertainty and increased currency headwinds. Net 
revenue growth is now expected to be 0-6% (from 4-9%) 
and the adjusted EBIT margin is expected to be 4.5-5.5% 
(from 5.8-6.5%).
Business update
• In January , Boozt announced a strategic realignment, reducing 
around 10% of the company's permanent positions to reflect 
the increasing role of technology and AI across the value 
chain. The reorganisation was carried out during the quarter 
and resulted in severance costs of SEK 27 million. 
The reduction in the workforce is expected to have a positive 
net impact on the adjusted EBIT margin for 2025 of around 0.3 
percentage points.
• In the quarter, Boozt announced plans to establish a new 
headquarters in Copenhagen to support its long-term growth 
ambitions. The location offers strong connectivity to both 
Denmark and Sweden, as well as access to a dynamic 
business environment and a highly skilled talent pool. 
The relocation is expected to be completed by Q1 2026.
• ESG: Boozt has initiated outreach to brand partners through 
the Fashion Leap for Climate program, actively supporting 
their decarbonization efforts and contributing to Boozt’s 
science-based supplier engagement target.
• Boozt's CFO, Sandra Gadd, has announced her resignation 
after serving since 2019. To ensure a smooth transition period, 
she will remain available until after the company releases its 
Q2 report in August.
CEO comment
"During the quarter , we continued to strengthen our business, 
despite sales being increasingly challenged by the overall market 
sentiment. In January , we took a significant step toward reaping 
the benefits of AI and technology in our operations, positioning us 
well for the future. Additionally , we successfully encouraged more 
customers to embrace our department store offering — one 
of our key performance indicators. Overall, our actions have put 
us in a strong financial, operational, and cost position for when 
the market turns."
- Hermann Haraldsson, CEO & Co-founder
SEK million unless otherwise indicated Q1 2025 Q1 2024 Change Rolling 12 months
Net revenue 1,652 1,614 2% 8,281
Gross margin (%) 38.0% 38.9% -0.9pp 38.8%
Fulfilment cost ratio (%) -10.8% -11.6% +0.8pp -10.1%
Marketing cost ratio (%) -10.1% -10.0% -0.0pp -9.3%
Adjusted Admin and Other cost ratio (%) -10.7% -11.9% +1.1pp -3.3%
EBIT 5 -3 286% 461
EBIT margin (%) 0.3% -0.2% +0.5pp 5.6%
Adjusted EBIT 38 20 91% 491
Adjusted EBIT margin (%) 2.3% 1.2% +1.1pp 5.9%
Profit for the period 4 2 77% 344
Free cash flow -619 -685 10% 78
Net revenue (SEKm)
Adjusted EBIT and adjusted EBIT margin
Adj. EBIT (SEKm) Adj. EBIT margin
17
20
38
1.1%
1.2%
2.3%
Q1 2023 Q1 2024 Q1 2025
Q1 2023
Q1 2024
Q1 2025
1,525
1,614
1,652
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

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B O O Z T  G R O U PQ 1  2 0 2 5P A G E _4
Key figures and ratios
SEK million unless otherwise indicated Q1 2025 Q1 2024 Change Rolling 12 months
GROUP
Net revenue 1,652 1,614 2% 8,281
Net revenue growth (%) 2% 6% -4pp 6%
Gross profit 627 627 -0% 3,213
Gross margin (%) 38.0% 38.9% -0.9pp 38.8%
Fulfilment cost ratio (%) -10.8% -11.6% +0.8pp -10.5%
Marketing cost ratio (%) -10.1% -10.0% -0.0pp -10.1%
Admin & other cost ratio (%) -12.7% -13.3% +0.6pp -9.3%
Depreciation cost ratio (%) -4.1% -4.1% -0.0pp -3.3%
Adjusted admin & other cost ratio (%) -10.7% -11.9% +1.1pp -8.9%
EBIT 5 -3 286% 461
EBIT margin (%) 0.3% -0.2% +0.5pp 5.6%
Adjusted EBIT 38 20 91% 491
Adjusted EBIT margin (%) 2.3% 1.2% +1.1pp 5.9%
Earnings for the period 4 2 77.4% 344
Earnings per share (SEK) 0.07 0.04 80.3% 5.30
Earnings per share after dilution (SEK) 0.06 0.04 77.5% 5.01
Adjusted earnings per share (SEK) 0.47 0.31 50% 5.67
Adjusted earnings per share after dilution (SEK) 0.44 0.30 48% 5.36
Net working capital 1,396 993 41% 1,396
Net working capital as share of net revenue (%) 16.9% 12.7% +4.2pp 16.9%
Free cash flow -619 -685 10% 78
Net debt / -net cash -8 -236 96% -8
Number of employees end of period 1,106 1,160 -5% 1,106
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 5 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _5
Investment 
case
Boozt stands out as a leading online retailer within fashion and 
lifestyle in the Nordic region, leveraging a scalable, technology-
driven business model and a customer-centric approach. With 
diversified product categories, operational efficiency, and a strong 
focus on sustainability, Boozt is well-positioned for continued 
growth and profitability in a competitive e-commerce market.
Nordic  
online leader
Leading online retailer within fashion and lifestyle  
in the Nordics
Booztlet.com (outlet) enhancing inventory efficiency 
and attracting price-conscious consumers
Attractive assortment of 1,600 Nordic and 
international brands
Scalable  
model
Growth 
opportunities
Increasing revenue by moving customers  
to multi-category shopping
Capitalizing on a strong product offering and 
superior service levels
Increasing online penetration across categories
Market consolidation to support leading retailers
Resilience 
through 
diversification
Department store approach supports average 
order value and customer loyalty
Reduction of risk through category diversification 
10% 
10% 
Return excess 
cash to 
shareholders
Boozt prioritizes reinvestment of cash for organic  
growth and market share gains. Excess cash is  
returned to shareholders
share of the Nordic fashion and lifestyle market
Long-term market share target
adjusted EBIT margin in 2028
Medium-term profitbility target
Solid margin 
potential
Very competitive unit economics driven by industry 
leading average order value
Scale and ongoing optimisation supporting profitability
In-house tech platform and automated 
fulfilment centre ensure scalability, flexibility 
and  cost efficiency

===== SIDA 6 =====

Business review
Financials..................................................................................................... 7
Outlook 2025.............................................................................................12
Other information.....................................................................................13

===== SIDA 7 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _7
Financials
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 end of the period, meaning March 31, 
2024. The first quarter refers to the period January-March 2025.
Net revenue
For the first quarter, net revenue increased by 2% (or 3% in local 
currency) to SEK 1,652 million (1,614). Sales growth was driven 
by most major markets, but held back by a muted performance 
in Denmark, which was impacted by highly hesitant and 
price conscious consumers. Across most markets, conditions 
remained challenging with continued low consumer confidence 
and a high promotional activity .
Growth in the quarter was mainly driven by a continued 
strong performance in Booztlet.com (+18%). The price initiative 
introduced in Q3 2024 continues to support the platform 
by offering more competitive prices on Booztlet, helping 
to keep Boozt’s inventory position current. Revenue from 
Boozt.com declined slightly in the quarter (-1%), mainly due to 
a soft performance in Denmark. In contrast to Booztlet.com, 
Boozt.com does not utilize pricing to the same extent as a 
tool for customer acquisition in the current market environment, 
as the platform maintains a more premium pricing strategy 
to protect brand equity . While this approach helps preserve 
brand value, it likely affects sales, particularly among price-
conscious consumers.
Active customers in the last 12 months on the two platforms 
increased with 2% (Boozt.com) and 22% (Booztlet.com) 
compared with the same period last year. The increase was 
supported by around 270,000 new customers buying on the 
two sites during Q1 2025. In total, around 3.8 million customers 
shopped on the two platforms in the last 12 months compared 
with 3.5 million in the same period last year.
Boozt continues to focus on encouraging customer to buy from 
more categories. In the last 12 months, Boozt.com saw its multi-
category buyer base increase by around 50,000, a 4% increase 
compared with last year. These buyers now represent 52% of 
active customers, up from 51% in the same period last year.
In the quarter, Boozt.com's Average Order Value (AOV) declined 
by 1% to SEK 957 (964), while Booztlet.com was largely 
unchanged compared to last year at SEK 982 (979) despite the 
price reductions.
Other revenue
Other revenue (included in revenue from Boozt.com and 
Booztlet.com) in the quarter was SEK 80 million (73), an increase 
of 11% compared with the same quarter last year. Other revenue 
includes revenue not directly related to product sales, such as 
income from Boozt Media Partnership, Boozt Data Intelligence, 
BooztPay and breakage from gift cards.
Net revenue geographical split
Revenue in the Nordics was SEK 1,469 million (1,429) in 
the quarter and increased by 3% compared with the same 
quarter last year. Growth was driven mainly by a continued solid 
development in Sweden (+10% ), whereas revenue from 
Denmark declined 3%. Consumer confidence was gradually 
declining in Denmark throughout the quarter and in March 
reached a two year low.
Revenue in the Rest of Europe was SEK 182 million (185) and 
decreased by 1% for the quarter. Revenue from the Baltics 
continues to perform well, however, the development in Germany 
was soft in the quarter, due to less investments in the country . 
In Germany , the approach remains opportunistic, with 
a continued focus on maintaining profitability on every order.
SEK million Q1 2025 Q1 2024 Change Rolling 12 months
Nordics 1,469 1,429 3% 7,432
- of which Denmark 521 540 -3% 2,712
- of which Sweden 540 492 10% 2,788
Rest of Europe 182 185 -1% 850
Total net revenue 1,652 1,614 2% 8,282
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 8 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _8
Gross profit
Gross profit was unchanged at SEK 627 million (627), while the 
gross margin decreased by 0.9 percentage points to 38.0% 
(38.9%). The decline was mainly due to the ongoing price 
initiative on Booztlet.com, where lower prices are offered on 
prior-season products, in an effort to keep Boozt's inventory 
current. Additionally , a timing difference compared to last year 
in Other revenue (which carries a high gross margin) had a slight 
negative effect on the quarter's gross margin. This is expected to 
reverse in the second quarter.
Operational costs
The fulfilment cost ratio in Q1 2025 improved by 0.8 percentage 
points compared with last year to 10.8% (11.6%). The significant 
improvement was due to the transfer cells installed at the 
fulfilment centre in 2024, which are now fully operational and 
generating significant efficiency and cost savings in fulfilment. 
Additionally , agreements with distribution partners across the 
Nordics have been improved.
The marketing cost ratio remained largely stable at 10.1% (10.0%) 
in the quarter. Boozt continues to benefit from a growing base 
of returning customers and an increase in members of the 
Club Boozt loyalty programme, which reduces marketing needs. 
However, in line with plans, the offline marketing spend rose 
in the quarter in an effort to increase awareness for the non-
fashion categories, Sport, Kids, Beauty and Home, throughout 
the Nordics.
The adjusted admin and other cost ratio improved to 10.7% 
(11.9%) in the quarter, a decrease of 1.2 percentage points 
compared to Q1 2024. This improvement was primarily driven by 
the simplified value-added tax registration in Norway , which was 
obtained in November 2024. Since then, Boozt has no longer 
been required to pay customs in Norway , in contrast to Q1 2024.
The depreciation cost ratio was unchanged at 4.1% (4.1%).
Adjusted EBIT
In Q1 2025, adjusted EBIT increased by 91% compared with last 
year to SEK 38 million (20). The adjusted EBIT margin increased 
by 1.1 percentage points to 2.3% (1.2%). The improvement was 
mainly driven by a lower fulfilment cost ratio and the elimination 
of customs payments in Norway for Boozt.
The adjustment for the quarter amounted to SEK 33 million 
(23), of which SEK 27 million relates to severance pay for 
former employees impacted by the reorganisation implemented 
during the quarter. SEK 5 million (25) was related to share-based 
payments.
Costs related to share-based payments fluctuate between 
periods as the probability of the number of performance shares 
under the programs is dynamic. Also, the provision for social 
charges is 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, “Q1 
Report 2025” – “Financial data”.
EBIT
EBIT was SEK 5 million (-3) in Q1 2025 corresponding to an EBIT 
margin of 0.3% (-0.2%).
Financial items
Net financial items for the quarter totalled SEK 1 million (-5). 
Financial income amounted to SEK 10 million (7) in Q1 2025 and 
was mainly related to positive interests on the company's cash 
position. Financial expenses decreased to SEK -9 million (-11) 
of which SEK -5 million (-7) were related to interest on loans for 
financing the expansion of AutoStore and SEK -4 million (-5) 
were related to interest on leasing contracts according to IFRS 
16.
Tax
Tax for Q1 2025 was SEK -2 million (10) corresponding to an 
effective tax rate for the period of 33.4% (-131.3%). Tax for Q1 
2024 was positively impacted by SEK 9 million regarding 
previous years' taxation, which related to an investment grant 
received in 2021 during COVID.
Profit for the period
Profit for Q1 2025 totalled SEK 4 million (2) resulting in earnings 
per share before dilution of SEK 0.07 (0.04). Earnings per share 
after dilution amounted to SEK 0.06 (0.04).
Net Working capital
Net working capital at the end of Q1 2025 was SEK 1,396 million 
(993) equivalent to 16.9% (12.7%) of net revenue for the last 
12 months.
Inventory as a percentage of revenue for the last 12 months 
increased to 35.9% compared with 33.1% in Q1 2024. The 
increase was mainly driven by lower than anticipated sales of the 
Autumn/Winter collection. In absolute terms inventory increased 
to SEK 2,970 million (2,597). Though sell-out was lower than 
planned during the quarter, inventory remains current, supported 
by the clearance of older products on Booztlet.com. The risk 
related to inventory is significantly reduced thanks to Booztlet 
acting as an effective clearing channel, where prices can be 
lowered without compromising the brand value of Boozt.com 
or its brand partners. The clearance of stock on Booztlet is 
expected to continue in the coming quarter.
Accounts payable increased to SEK 1,437 million (1,397) at the 
end of Q1 2025 corresponding to 17 .4% (17 .8%) of net revenue for 
the last 12 months.
Accounts receivable was SEK 43 million (55). at the end of Q1 
2025 corresponding to 0.5% (0.7%) of net revenue for the last 
12 months.
Share of net revenue Q1 2025 Q1 2024 Change Rolling 12 months
GROUP
Gross margin 38.0% 38.9% -0.9pp 38.8%
Fulfilment cost ratio -10.8% -11.6% 0.8pp -10.5%
Marketing cost ratio -10.1% -10.0% -0.0pp -10.1%
Admin and Other cost ratio -12.7% -13.3% 0.6pp -9.3%
Adjusted Admin and Other cost ratio -10.7% -11.9% 1.1pp -8.9%
Depreciation cost ratio -4.1% -4.1% -0.0pp -3.3%
EBIT margin 0.3% -0.2% 0.5pp 5.6%
Adjusted EBIT margin 2.3% 1.2% 1.1pp 5.9%
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 9 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _9
Cash flow
Cash flow for the period amounted to SEK -780 million 
compared with SEK -776 million in Q1 2024. Free cash flow for 
the quarter was SEK -619 million (-685).
Cash flow from operations
Cash flow from operating activities amounted to SEK 
-567 million (-588) in the quarter, while cash flow from operating 
activities before changes to networking capital was SEK 
55 million (39). Cash flow from operating activities is typically 
low in Q1, largely due to the increased net working capital 
requirements as inventory is built in preparation for the spring/
summer season.
Cash flow from investments
Cash flow from investing activities amounted to SEK -53 million 
(-97). The decrease in investments was mainly due to 
investments in fixed assets falling to SEK -18 million (-70). 
Investments in Q1 2024 were elevated due to the installation 
of transfer cells at the fulfilment centre in Ängelholm in 2024. 
The transfer cells are now fully operational providing both cost 
savings and increased output capacity .
Cash flow from investments in intangible assets was SEK 
-25 million (-26) and mainly related to investments in the 
IT infrastructure.
Cash flow from financing
Cash flow from financing activities amounted to SEK -160 million 
compared with SEK -91 million in Q1 2024. The increase was 
mainly due to the share buyback activity in the period which 
amounted to SEK -134 million in the quarter compared with SEK 
-98 million in Q1 2024.
Cash position
At the end of Q1 2025, the Group had a net cash position of SEK 
8 million compared with SEK 236 million at the end Q1 2024. The 
cash position is impacted by Boozt's ongoing share repurchase 
program. In the last 12 months, Boozt has repurchased own 
shares to the value of SEK 198 million. Hereof, SEK 134 million 
was done in Q1 2025.
Cash and cash equivalents declined to SEK 391 million at the 
end of Q1 2025 compared with SEK 687 million at the end 
of Q1 2024. The decline was driven by , among other factors, 
the aforementioned repurchase of own shares as well as the 
investments in transfer cells at the fulfilment centre during 2024.
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 10 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _1 0
Segments
Boozt.com
Net revenue
In Q1 2025, revenue from Boozt.com was SEK 1,324 million 
(1,335), corresponding to a decline of 1% (0% growth in local 
currency). Sales on the platform continued to be affected by 
weak consumer demand in the fashion and lifestyle market, 
which intensified during the quarter. Notably , women's fashion, 
Boozt.com's largest category , is experiencing lower demand.
The number of active customers on Boozt.com in the last 12 
months increased by 2% to 2.8 million (2.7). This was supported 
by around 170,000 new customers buying on Boozt.com 
in Q1 2025. The average order value was SEK 957 (964), 
corresponding to a decline of 1%, which was largely explained 
by currency .
Revenue in the Nordics was flat. Revenue from Sweden 
increased 2%, however, performance in Denmark was soft (-5%), 
as the Danish consumer confidence remains low. Revenue from 
the Rest of Europe declined by 6%. The positive development 
in the Baltics continued in the quarter, but was offset by a softer 
trend in Germany , reflecting a lower level of investment. The 
focus in Germany remains opportunistic, with an emphasis on 
securing profitability on every order.
True frequency was 7 .0 (6.9) with cohorts continuing to display 
encouraging buying patterns despite the remaining pressure 
on consumers' disposable income. Customer satisfaction was 
slightly down in the quarter, but continues to be at a high and 
very competitive level, illustrated by a Trustpilot score of 4.2 (4.5) 
and a Net Promoter Score of 74 (77).
Adjusted EBIT and EBIT
Adjusted EBIT was SEK 39 million (13) in the quarter, while 
the adjusted EBIT margin increased by 2.1 percentage points to 
3.0% (0.9%). The margin improvement was primarily driven by 
increased efficiency in fulfilment and distribution supported by 
the transfer cell implementation in 2024, as well as Boozt's 
exemption from Norwegian customs payments.
The adjustment for the quarter amounted to SEK 25 million (19), 
of which SEK 21 million relates to severance pay for former 
employees impacted by the reorganisation implemented during 
the quarter. SEK 4 million (19) was related to share-based 
payments.
EBIT for the quarter increased to SEK 14 million (-6) 
corresponding to an EBIT margin of 1.0% (-0.5%).
SEK million unless otherwise indicated Q1 2025 Q1 2024 Change Rolling 12 months
Boozt.com
Net revenue 1,324 1,335 -1% 6,646
EBIT 14 -6 n/a 412
EBIT margin (%) 1.0% -0.5% 1.5pp 6.2%
Adjusted EBIT 39 13 211% 434
Adjusted EBIT margin (%) 3.0% 0.9% 2.0pp 6.5%
No. of orders (000) 1,258 1,273 -1% 6,369
True frequency 7.0 6.9 1% 6.9
Average order value (SEK) 957 964 -1% 963
Active customers (000) 2,751 2,691 2% 2,751
No. of orders per active customer 2.32 2.37 -2% 2.32
SEK million Q1 2025 Q1 2024 Change Rolling 12 months
Boozt.com - Net revenue
Nordics 1,198 1,201 0% 6,067
- of which Denmark 441 464 -5% 2,278
- of which Sweden 399 390 2% 2,127
Rest of Europe 126 134 -6% 579
Total net revenue 1,324 1,335 -1% 6,646
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 11 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _1 1
Booztlet.com
Net revenue
In Q1 2025, net revenue from Booztlet.com was SEK 328 million 
(279) corresponding to an increase of 18% (or 18% in local 
currency) compared with the same quarter last year.
The number of active customers on Booztlet in the last 12 
months increased by 22% to 1.0 million (0.8). The increase 
was supported by the strategic decision introduced during Q3 
2024 to offer more competitive prices on the platform on 
older and slow-moving stock, to help keep Boozt's inventory 
position current.
Booztlet was always intended as a way to hedge inventory risk. 
This has proven particularly valuable in the last three quarters, 
as consumer sentiment has been weaker than expected. The 
additional markdowns are temporary and can be implemented 
without compromising the Boozt brand.
The results were achieved despite a continuous highly 
promotional market as well as the impression that the 
more price-conscious customer (targeted by Booztlet) 
has experienced a more notable relative decline in 
disposable income.
The average order value for the quarter was SEK 982 (979) and 
largely unchanged compared with the same quarter last year. 
Despite the price reductions, AOV was unchanged in the quarter 
due to a slight increase in items per basket. This was supported 
by an increase in marketing for non-fashion categories.
Revenue from the Nordics was SEK 271 million (228) and 
increased by 19% compared with Q1 2024. The increase was 
driven by a strong performance in Sweden (+39%). Revenue 
from the Rest of Europe grew 12% to SEK 57 million (51).
Adjusted EBIT and EBIT
Adjusted EBIT amounted to SEK -1 million (7) in the quarter 
corresponding to an adjusted EBIT margin of -0.2% (2.6%). 
The lower margin is mainly due to a lower gross margin, which 
was impacted by the pricing initiatives implemented in 
the quarter.
The adjustment for the quarter amounted to SEK 7 million (4), 
of which SEK 6 million relates to severance pay for former 
employees impacted by the reorganisation implemented during 
the quarter. SEK 1 million (4) was related to share-based 
payments.
EBIT for the first quarter was SEK -8 million (3) corresponding to 
an EBIT margin of -2.4% (1.1%).
SEK million unless otherwise indicated Q1 2025 Q1 2024 Change Rolling 12 months
Booztlet.com
Net revenue 328 279 18% 1,635
EBIT -8 3 n/a 49
EBIT margin (%) -2.4% 1.1% -3.5pp 3.0%
Adjusted EBIT -1 7 n/a 58
Adjusted EBIT margin (%) -0.2% 2.6% -2.8pp 3.5%
No. of orders (000) 322 274 18% 1,658
Average order value (SEK) 982 979 0% 958
Active customers (000) 1,037 847 22% 1037
No. of orders per active customer 1.6 1.6 1% 1.6
SEK million Q1 2025 Q1 2024 Change Rolling 12 months
Booztlet.com - Net revenue
Nordics 271 228 19% 1,365
- of which Denmark 80 76 5% 435
- of which Sweden 141 102 39% 661
Rest of Europe 57 51 12% 271
Total net revenue 328 279 18% 1,635
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 12 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _1 2
Outlook 2025
Boozt updates its financial outlook for 2025 due to increased 
market uncertainty and unfavourable currency movements. The 
company now anticipates net revenue growth in the range of 
0-6%, compared with previous expectation of 4-9%. Similarly , 
the adjusted EBIT margin is now projected to be 4.5-5.5%, 
compared with the initial guidance of 5.8-6.5%.
Outlook 2025
Updated 
outlook
Previous 
outlook
Reported
FY 2024
Revenue growth 0-6% 4-9% 6%
Adjusted EBIT margin 4.5-5.5% 5.8-6.5% 5.7%
The initial 2025 outlook, issued on February 7 , had assumed a 
continued challenging yet stable market. Since then, however, 
the Nordic retail landscape has become increasingly uncertain, 
largely due to heightened geopolitical unrest. To illustrate this 
volatility , Boozt's trading performance in April to date has 
fluctuated significantly following the increased trade tensions.
Adding to this, the Swedish krona has strengthened 
considerably since February 7 . Assuming exchange rates remain 
at current levels for the remainder of 2025, this strengthening 
is expected to negatively impact net revenue by approximately 
3 percentage points. Furthermore, given that the majority of 
Boozt’s costs are denominated in SEK, the adjusted EBIT 
margin is also projected to be negatively affected by around 1 
percentage points, assuming unchanged currency rates.
Profitability is still expected to benefit from efficiency gains 
across the value chain. This includes the full-year effect of the 
transfer cell implementation in 2024, as well as margin support 
from the recently implemented tech-driven organisational 
realignment (detailed below). However, these improvements 
are anticipated to be partially offset by increased marketing 
investments aimed at growing awareness for the non-fashion 
product categories during 2025.
CAPEX for 2025 is expected to be SEK 150-170 million (from 
previously SEK 170-200 million). As announced in 2024, Boozt 
plans to invest around SEK 500 million in capacity expansion 
between 2025 and 2027 . Of this, around SEK 65 million is 
expected to be invested in 2025. The remaining CAPEX for the 
year will primarily cover IT development costs.
Expected financial impact from 
workforce realignment
As announced on January 13, 2025, Boozt initiated an 
organisational realignment to adapt to the increasing impact 
of technology , including the growing use of AI. As part of 
this restructuring, approximately 10% of permanent positions 
were eliminated in February 2025. This workforce reduction is 
projected to have a net positive impact of around 0.3 percentage 
points on the adjusted EBIT margin for 2025. However, the 
impact on EBIT before adjustments is expected to be limited due 
to severance payments associated with the restructuring, which 
amount to approximately SEK 27 million expensed in Q1 2025.
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 13 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _1 3
Other information
Significant events during Q1 2025
Boozt announces realignment of organisation
On January 13, 2025, Boozt announced the decision to realign 
its organisation, reflecting the growing impact of technology and 
the increasing adoption of AI-powered tools across the entire 
value chain.
The realignment resulted in a reduction of approximately 10% 
of the Group’s permanent positions, with changes implemented 
during Q1 2025. This strategic resizing aims to support Boozt’s 
ability to sustain growth and enhance margins in 2025.
Sandra Gadd steps down as Boozt's CFO
On February 7 , 2025, Boozt announced that Sandra Gadd had 
decided to step down from her role as Chief Financial Officer 
(CFO) and as a member of the Boozt executive management 
team. To ensure a smooth transition period, she will remain 
available until after the company releases its Q2 report 
in August.
Boozt to establish headquarters in Copenhagen
On February 25, 2025, Boozt announced plans to establish 
its headquarters in Copenhagen, Denmark. The new office, 
Krystallen, is centrally located, providing excellent connectivity 
to both Denmark and Sweden, where the company’s main 
operations are based. The Copenhagen headquarters will 
enhance access to a dynamic business environment and a 
strong talent pool, supporting Boozt’s ambitions.
Boozt is expected to relocate to the new Copenhagen premises 
in the first quarter of 2026.
Significant events after the 
reporting date
Annual General Meeting 2025
Boozt's Annual General Meeting was held on April 24, 2025. The 
AGM decided that no dividends are paid to the shareholders and 
that the Company’s profit for 2024 are carried forward. The AGM 
also decided on implementation of a new long-term incentive 
program (LTIP 2025).
Furthermore, Henrik Theilbjørn, Jón Björnsson, Cecilia Lannebo 
and Julie Wiese were all re-elected as ordinary board members, 
while Aileen O’Toole and Benjamin Büscher declined re-election. 
Fiona Mullan was elected as new ordinary board member, and 
Henrik Theilbjørn was re-elected as Chair. Boozt's Board of 
Directors now consists of five members.
More information of the outcome of the Annual General Meeting 
2025 can be found here.
Treasury shares
During Q1 2025, Boozt repurchased 1,097 ,500 of its own shares, 
corresponding to SEK 134 million. After mandate given at the 
AGM 2024, Boozt's Board of Directors launched a share buyback 
programme aimed at repurchasing company shares worth 
up to SEK 200 million. The programme has now concluded, 
and during this period, Boozt repurchased 1,632,500 shares, 
corresponding to SEK 198 million.
As of the date of this report, Boozt holds 6.7% of the share 
capital in Boozt Fashion AB, equivalent to a total of 4,563,158 
treasury shares, of which 1,744,867 are classified as C-shares.
On April 24, the AGM approved a reduction of the share 
capital through the cancellation of 2,680,517 ordinary shares 
repurchased as part of Boozt's share buyback programmes. 
After the cancellation, the number of shares in Boozt will be 
reduced to 65,608,971 (from 68,289,488), of which 1,744,867 will 
remain classified as C-shares. As a result of this share reduction, 
Boozt will own 1,882,641 own shares (including 1,744,867 C-
shares), or 2.9% of the share capital.
Parent company
Net revenue of the parent company amounted to SEK 31 million 
(24) in Q1 2025. The parent company has invoiced fees 
for management services in accordance with the Group’s 
intracompany 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. Net profit for the quarter 
totalled SEK -0 million (-22).
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.
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 . All identified risks as well 
as the risk management process is described in the Group’s 
Annual Report 2024 on pages 28-30.
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 
2024. There have not been any significant transactions with 
members of Group Management or other related parties during 
the quarter. 
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 14 =====

Financial statements
Consolidated financial statements..................................................... 15
Accounting notes.....................................................................................19
Parent company financial statements............................................... 22

===== SIDA 15 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _1 5
Consolidated 
financial statements
Consolidated income statement
SEK million Note Q1 2025 Q1 2024
Rolling 12 
months
Net revenue 2 1,652 1,614 8,281
Total operating income 1,652 1,614 8,281
Goods for resale -1,024 -987 -5,068
Other external costs -349 -361 -1,643
Cost of personnel -208 -199 -834
Depreciation and amortisation of tangible and intangible assets -68 -66 -275
Other operating costs 4 -4 -0
Total operating costs -1,646 -1,617 -7,821
OPERA TING PROFIT (EBIT) 2 5 -3 461
Financial income 10 7 22
Financial expenses 3 -9 -11 -41
Net financial items 1 -5 -19
PROFIT BEFORE TAX 2 6 -8 442
Income tax -2 10 -98
PROFIT FOR THE PERIOD 4 2 344
SEK Note Q1 2025 Q1 2024
Rolling 12 
months
Average number of shares (000) 64,425 65,460 64,991
Average number of shares after dilution (000) 68,170 68,205 68,670
Earnings per share (SEK) 0.07 0.04 5.30
Earnings per share after dilution (SEK) 0.06 0.04 5.01
Consolidated statement of comprehensive income
SEK million Note Q1 2025 Q1 2024
Rolling 12 
months
PROFIT FOR THE PERIOD 4 2 344
ITEMS THA T MA Y BE RE-CLASSIFIED TO THE 
INCOME STA TEMENT:
Translation differences -30 16 -49
TOTAL COMPREHENSIVE PROFIT FOR THE PERIOD -26 18 296
A TTRIBUTABLE TO
Parent company's shareholders -26 18 296
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 16 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _1 6
Consolidated statement of financial position
SEK million Note Mar 31, 2025 Mar 31, 2024 Dec 31, 2024
ASSETS
Trademarks 4 91 97 96
Goodwill 4 291 310 309
Web platform 4 245 213 241
Total intangible assets 627 620 646
Right of use asset 462 537 475
Machinery and equipment 4 809 830 817
Total tangible assets 1,271 1,368 1,292
Deposits 21 8 11
Shares in associated companies 14 15 14
Deferred tax asset 13 22 14
Total other assets 48 45 38
Total non-current assets 1,946 2,033 1,975
Inventory 2,970 2,597 2,674
Accounts receivable 3 43 55 38
Other receivables 3 120 143 173
Current tax receivables 7 6 57
Prepaid expenses and accrued income 265 120 201
Cash and cash equivalents 3 391 687 1,174
Total current assets 3,796 3,607 4,317
TOTAL ASSETS 5,742 5,639 6,293
SEK million Note Mar 31, 2025 Mar 31, 2024 Dec 31, 2024
EQUITY AND LIABILITIES
Share capital 6 6 6
Other capital contributions 2,380 3,754 2,307
Reserves 23 57 37
Retained earnings including profit for the period 422 -1,158 372
Total equity 2,831 2,658 2,721
Non-current interest bearing liabilities 3 382 355 380
Non-current lease liabilities 3 384 464 401
Other non-current liabilities 3 - - -
Other non-current provisions 19 28 21
Deferred tax liabilities 18 19 20
Total non-current liabilities 803 867 821
Current interest bearing liabilities 3 0 96 -0
Current lease liabilities 3 99 92 97
Accounts payable 3 1,437 1,397 1,235
Current tax liabilities 13 1 85
Other liabilities 3 183 199 531
Accrued expenses and prepaid income 376 329 540
Total current liabilities 2,108 2,114 2,488
Total liabilities 2,911 2,981 3,310
TOTAL EQUITY AND LIABILITIES 5,742 5,640 6,031
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 17 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _1 7
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
Equity as per Jan 1, 2024 6 2,307 37 372 2,721
Profit for the period - - - 2 2
Other comprehensive income - - 16 - 16
COMPREHENSIVE PROFIT /LOSS FOR THE PERIOD 0 0 16 2 18
Share capital increase - - - - -
Sharebased compensation - 17 - -
Share buyback - - - -98 -98
Total transaction with owners 0 17 0 -98 -81
Equity as per Mar 31, 2024 6 2,324 52 276 2,658
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
Equity as per Jan 1, 2025 6 2,372 53 553 2,983
Profit for the period - - - 4 4
Other comprehensive income - - -30 - -30
COMPREHENSIVE PROFIT /LOSS FOR THE PERIOD 0 0 -30 4 -26
Share capital increase - - - - -
Sharebased compensation - 8 - - 8
Share buyback - - - -134 -134
Total transaction with owners 0 8 0 -134 -127
Equity as per Mar 31, 2025 6 2,380 23 422 2,831
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 18 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _1 8
Consolidated statement of cash flow
SEK million Note Q1 2025 Q1 2024
Rolling 12 
months
Operating profit 5 -3 460
Adjustments for non-cash items:
Non-cash remuneration from share based payments (social charges) 8 17 6
Non-cash remuneration from share based payments -2 5 57
Depreciation 68 68 273
Other items not included in cash flow - - 2
Redemption of share based payments (social charges) - - -16
Interest received 10 7 20
Interest paid 3 -9 -11 -41
Paid income tax -25 -44 -78
CASH FLOW FROM OPERA TING ACTIVITIES BEFORE CHANGES IN 
WORKING CAPITAL 55 39 684
Changes in inventory -296 -315 -374
Changes in current assets -16 -58 -111
Changes in current liabilities -309 -254 74
Cash flow from changes working capital -622 -627 -411
CASH FLOW FROM OPERA TING ACTIVITIES -567 -588 273
SEK million Note Q1 2025 Q1 2024
Rolling 12 
months
Investments in fixed assets 4 -17 -70 -70
Change in financial assets 4 -11 -0 -12
Investments in intangible assets 4 -25 -26 -112
CASH FLOW FROM INVESTING ACTIVITIES 4 -53 -97 -195
Share buyback -134 -98 -198
New loans 283 53 618
Repayments of loans -280 -24 -688
Repayments of lease liability -29 -22 -101
CASH FLOW FROM FINANCING ACTIVITIES -160 -91 -369
Cash flow for the period -780 -776 -290
Currency exchange gains/losses in cash and cash equivalents -4 1 -7
Cash and cash equivalents beginning of period 1,174 1,463 687
CASH AND CASH EQUIVALENTS END OF PERIOD 391 687 391
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 19 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _1 9
Accounting notes
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 2024 Annual Report. Amended or new standards taking effect from 
January 1, 2025 have not had any material impact on the Group's financial reports for the period.
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 2024 Annual Report on page 105.
The Group has carried out a reassessment of the useful lives of selected parts of the Group’s fixed assets that mainly relate to 
the AutoStore installations and specifically the Conveyors as well as IT, Sensors & PLC. 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 
eight years. For the previously acquired assets, the change will be made from January 2025. For the most recently acquired assets 
activated in Q4 2024 the new depreciation times will be used from the start.
By extending the useful lives, the Group assesses a higher degree of comparability of EBIT towards industry peers. In conclusion, the 
impact on yearly depreciation compared to the previous depreciation times is a decrease in costs of around SEK 2,5 million for 2025.
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 Q1 2025 Q1 2024 Rolling 12 months
NET REVENUE
Boozt.com 1,324 1,335 6,646
Booztlet.com 328 279 1,635
TOTAL NET REVENUE 1,652 1,614 8,282
EBIT
Boozt.com 14 -6 412
Booztlet.com -8 3 49
TOTAL EBIT 6 -3 461
EARNINGS BEFORE TAX
Boozt.com 15 -21 396
Booztlet.com -8 0 46
EARNINGS BEFORE TAX 7 -20 441
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 20 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _2 0
Note 3 - Financial instruments
31 Mar, 2024 (SEK million)
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
Accounts receivables 55 - - 55 55
Other receivables 142 - 0 142 142
Cash and cash equivalents 687 - - 687 687
Total financial assets 893 0 0 893 893
Financial liabilities
Liabilities to credit institutions - 452 - 452 452
Accounts payables - 1,397 - 1,397 1,397
Other liabilities - 197 2 199 199
Lease liabilities - 556 - 556 556
Total financial liabilities 0 2,602 2 2,604 2,604
31 Mar, 2025 (SEK million)
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 21 - - 21 21
Accounts receivables 43 - - 43 43
Other receivables 120 - - 120 120
Cash and cash equivalents 391 - - 391 391
Total financial assets 575 0 0 575 575
Financial liabilities
Liabilities to credit institutions - 382 - 382 382
Accounts payables - 1,437 - 1,437 1,437
Other liabilities - 183 0 183 183
Lease liabilities - 483 - 483 483
Total financial liabilities 0 2,486 0 2,486 2,486
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 21 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _2 1
Calculation of fair value
The Group has derivative instruments that comprise foreign exchange forward used for economic hedging purposes, which are 
measured at fair value according to Level 2 of the valuation hierarchy . Derivative receivables amount to SEK 0 million (0). Other 
financial liabilities measured at fair value via income statement consists of earn-out from acquisitions of operations of SEK 0 million 
(2), 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 104 and Note 28 on page 122 in the Annual Report 2024.
SEK million Q1 2025 Q1 2024 Rolling 12 months
Interest income 10 7 22
Interest expenses -5 -7 -23
Interest expense leases -4 -5 -18
Net change in value of receivables measured at fair value 
via income statement 0 - 0
Total net financial items 1 -5 -19
Note 4 - Investments
SEK million Q1 2025 Q1 2024 Rolling 12 months
Acquisition of fixed assets (other capex) 0 -2 -28
Acquisition of fixed assets (warehouse capex) -17 -68 -43
Total -18 -70 -71
Change in financial assets -11 0 -12
Total -11 0 -12
Acquisition of intagible assets (capitalised 
development costs) -25 -26 -110
Acquisition of intagible assets (other) 0 0 -2
Total -25 -26 -112
Cash flow from investments -53 -97 -196
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 22 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _2 2
Parent company 
financial statements
Parent company income statement
SEK million Q1 2025 Q1 2024 Rolling 12 months
Net revenue 31 24 157
Total operating income 31 24 157
Other external costs -3 -3 -10
Cost of personnel -23 -33 -127
Total operating costs -26 -35 -138
OPERA TING PROFIT (EBIT) 5 -11 20
Financial income 0 0 3
Financial expenses 0 -14 -0
Net financial items 0 -14 3
PROFIT AFTER FINANCIAL ITEMS 5 -25 22
Group contributions -5 1 -5
RESUL T BEFORE TAX -0 -24 17
Income tax -0 2 -2
PROFIT FOR THE PERIOD -0 -22 15
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 23 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _2 3
Parent company financial position
SEK million Mar 31, 2025 Mar 31, 2024 Dec 31, 2024
Shares in Group companies 831 831 831
Shares in associated companies 14 13 14
Deferred tax asset 0 2 0
Total non-current assets 845 847 845
Other receivables 0 0 0
Receivables from Group companies 818 959 962
Current tax assets - - 0
Prepaid expenses and accrued income 1 1 1
Cash and cash equivalents 5 17 14
Total current assets 825 978 977
TOTAL ASSETS 1,670 1,825 1,822
SEK million Mar 31, 2025 Mar 31, 2024 Dec 31, 2024
Share capital 6 6 6
Total restricted equity 6 6 6
Share premium reserve 2,214 2,192 2,218
Retained earnings -624 -426 -490
Earnings for the period 0 -22 -7
Total unrestricted equity 1,589 1,744 1,721
TOTAL EQUITY 1,595 1,749 1,727
Other provisions 12 18 13
Total non-current liabilities 12 18 13
Accounts payable 1 1 0
Current tax liabilities 1 - -
Liabilities to Group companies 38 38 38
Other liabilities 7 5 10
Accrued expenses and prepaid income 16 14 34
Total current liabilities 63 58 82
TOTAL LIABILITIES 75 75 95
TOTAL EQUITY AND LIABILITIES 1,670 1,825 1,822
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 24 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _2 4
Audit
This report was not subjected 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, and performance and describes the material risks and uncertainties facing the Parent Company and the 
companies in the Group.
April 24, 2025
Henrik Theilbjørn
Chairman of the Board
Jón Björnsson
Board member
Cecilia Lannebo
Board member
Fiona Mullan
Board member
Julie Wiese
Board member
Hermann Haraldsson
Group CEO
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 25 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _2 5
Definitions of financial 
performance measures
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, “Interim Report Q1 2025” - "Financial data".
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 26 =====

B O O Z T  G R O U PQ 1  2 0 2 5P A G E _2 6
Financial calendar
August 15, 2025
Interim Financial Report for Q2 2025
November 4, 2025
Interim Financial Report for Q3 2025
February 6, 2026
Annual report 2025
Consolidated financial statements are available at www.booztgroup.com.
In case of enquiries or questions, please contact:
Magnus Thorstholm Jensen, Head of Investor Relations
matj@boozt.com / +45 30 50 44 02
This report is such information that Boozt AB (publ) is obliged to make public according to the EU Market Abuse Regulation. The 
information was submitted for publication, through the agency of the contact person set out above, at 17:30 CET on April 24, 2025.
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.
HIGHLIGHTS BUSINESS REVIEW FINANCIAL STATEMENTS ADDITIONAL INFORMATION

===== SIDA 27 =====

Contact details
Address: 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