Kvartalsrapport Q3 2023

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

Interim 
Financial 
Report Q3 2023
January 1 - September 30, 2023

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

Contents
Group - Key performance indicators (KPIs) 4
Group Development  5
Group Development - ESG Highlights 8
Development by segment  11
Other information  14
Consolidated income statement  16
Consolidated statement of comprehensive income  16
Consolidated statement of financial position  17
Consolidated statement of changes in equity 18
Consolidated statement of cash flow 19
Note 1 - Accounting principles 20
Note 2 - Segment reporting 20
Note 3 - Financial instruments 21
Note 4 - Investments 22
Parent company income statement  23
Parent company financial position  24
Audit 25
Review Report 25
Additional information  26
Information by quarter  27
Definitions and rationale for the use  
of certain Alternative Performance Measures (APM) 29
Financial calendar  30

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

Third Quarter Highlights Year-to-date highlights
Financials
• Net revenue of SEK 1,550.0 million and a net revenue growth of 16.7%  
(local currency 10.7%). Net revenue growth of 13.9% for Boozt.com  
and 31.3% for Booztlet.com
• Gross margin of 39.8% (40.1)
• Adjusted EBIT margin of 4.3% (1.9)  
• Earnings per share before dilution of SEK 0.42 (0.36)
• Free cash flow of SEK -94.6 million (90.1)
• Repurchase of own shares of SEK 55.4 million
• Cash and cash equivalents of SEK 703.9 million (1,024.3)
Financials
• Net revenue of SEK 4,761.9 million and a net revenue growth of 10.6%  
(local currency 6.2%). Net revenue growth of 11.3% for Boozt.com  
and 7.4% for Booztlet.com.
• Gross margin of 40.3% (40.3)
• Adjusted EBIT margin of 3.6% (2.7)
• Earnings per share before dilution of SEK 1.32 (0.93)
• Free cash flow of SEK -828.6 million (-640.0)
• Repurchase of own shares of SEK 57.8 million
Significant events
• Norwegian court rules in favour of Boozt in dispute with the Norwegian 
Tax Administration (Skatteetaten). In October the Norwegian Tax Agency 
appealed the verdict. A new hearing is expected to take place in 2024.
Significant events after the period
• The Nomination Committee has been formed in accordance with the 
principles adopted by the Annual General Meeting.
SEK million unless otherwise indicated Jul 1 - Sep 30, 2023 Jul 1 - Sep 30, 2022 Change Jan 1 - Sep 30, 2023 Jan 1 - Sep 30, 2022 Change
GROUP
Net revenue 1,550.0 1,328.1 16.7% 4,761.9 4,305.3 10.6% 
Gross profit 617.5 532.3 16.0% 1,916.7 1,733.8 10.6% 
EBIT 52.9 35.7 48.3% 116.5 95.5 22.0% 
Adjusted EBIT* 67.2 25.5 163.6% 169.8 115.2 47.4% 
Earnings for the period 28.8 24.2 18.8% 89.9 62.7 43.3% 
Free cash flow* -94.6 90.1 n.m. -828.6 -640.0 29.5%
Net revenue growth (%) 16.7% 7.8% 8.9 pp 10.6% 11.9% -1.3 pp 
Gross margin (%)* 39.8% 40.1% -0.2 pp 40.3% 40.3% -0.0 pp 
EBIT margin (%) 3.4% 2.7% 0.7 pp 2.4% 2.2% 0.2pp
Adjusted EBIT margin (%)* 4.3% 1.9% 2.4 pp 3.6% 2.7% 0.9 pp 
Rounding differences may affect the summations.  
*The figure is an Alternative Performance Measure, for further information see page 32.
“ We demonstrated superior execution in the third 
quarter with a strong acceleration of net revenue 
growth and a solid jump in profitability cementing 
our best-in-industry margins. Considering the 
strong momentum of our commercial efforts and 
competitive inventory composition, we upgrade the 
outlook for 2023 indicating a significant leap in terms 
of market share for The Nordic Department Store.”
Co-founder & CEO Hermann Haraldsson
Outlook for 2023 Outlook as of November 6, 2023 Previous outlook Reported 2022
Net revenue growth Between 11-15% Between 7.5-12.5% 16.0%
Adjusted EBIT SEK 350-390 million SEK 300-350 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.

===== SIDA 4 =====

Group - Key performance indicators (KPIs)
SEK million unless otherwise indicated Jul 1 - Sep 30, 2023 Jul 1 - Sep 30, 2022 Change Jan 1 - Sep 30, 2023 Jan 1 - Sep 30, 2022 Change Rolling 12 months
GROUP
Net revenue 1,550.0  1,328.1 16.7% 4,761.9 4,305.3 10.6% 7,200.0
Net revenue growth (%) 16.7% 7.8% 8.9pp 10.6% 11.9% -1.3pp 14.8%
Gross profit 617.5  532.3 16.0% 1,916.7 1,733.8 10.6% 2,849.8
Gross margin (%)* 39.8% 40.1% -0.2pp 40.3% 40.3% -0.0pp 39.6%
Fulfilment cost ratio (%)* -10.7% -11.6% 0.9pp -11.3% -11.8% 0.5pp -11.0%
Marketing cost ratio (%)* -10.5% -11.4% 0.9pp -10.6% -11.1% 0.6pp -10.6%
Admin & other cost ratio (%)* -11.1% -10.3% -0.9pp -12.0% -11.3% -0.7pp -10.7%
Depreciation cost ratio (%)* -4.1% -4.2% 0.0pp -3.9% -3.8% -0.1pp -3.4%
Adjusted admin & other cost ratio (%)* -10.2% -11.0% 0.8pp -10.8% -10.8% -0.0pp -9.8%
EBIT 52.9  35.7 48.3% 116.5  95.5 22.0% 274.1
EBIT margin (%) 3.4% 2.7% 0.7pp 2.4% 2.2% 0.2pp 3.8%
Adjusted EBIT* 67.2  25.5 163.6% 169.8  115.2 47.4% 340.1
Adjusted EBIT margin (%)* 4.3% 1.9% 2.4pp 3.6% 2.7% 0.9pp 4.7%
Earnings for the period 28.8  24.2 4.6 89.9  62.7 27.2 213.2
Earnings per share (SEK)* 0.42  0.36 0.06 1.32  0.93 0.39 3.14
Earnings per share after dilution (SEK)* 0.42  0.35 0.06 1.30  0.92 0.38 3.10
Adjusted earnings per share (SEK) 0.59  0.24 0.35 1.94  1.16 0.78 3.91
Adjusted earnings per share after dilution (SEK) 0.58  0.24 0.34 1.92  1.15 0.77 3.86
Cash flow from operations -61.5 122.1 -183.6 -732.7 -27.4 -705.3 100.1
Cash flow from investments -33.1 -32.1 -1.0 -95.9 -612.6 516.7 -198.6
Free cash flow* -94.6 90.1 -184.6 -828.6 -640.0 -188.6 -98.5
Net working capital* 928.8  527.8 400.9 928.8  527.8 400.9 928.8
Net debt / -net cash* -256.9 -495.3 238.4 -256.9 -495.3 238.4 -256.9
Equity / asset ratio 43.0% 44.2% -1.2pp 43.0% 44.2% -1.2pp 43.0%
Number of employees end of period 1,197 1,356 -159 1,197 1,356 -159 1,197
Rounding differences may affect the summations. 
*The figure is an Alternative Performance Measure (APM) (non-IFRS), for further information see page 32.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 4

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

Group Development
We demonstrated superior execution in the third quarter with a strong 
acceleration of net revenue growth and a solid jump in profitability cementing 
our best-in-industry margins.
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 September 30, 2022. 
The Third quarter refers to the period July - September 2023.
Net revenue
Net revenue increased 16.7% to SEK 1,550.0 million (1,328.1) in 
the third quarter. Currency had a positive impact on net revenue 
growth of 6.0 percentage points and relates primarily to the 
strengthening of DKK and EUR compared to SEK in the third 
quarter last year.
Growth was solid throughout the quarter with support from the 
strong inventory position. Weather conditions worked in favour 
of growth in the first part of the quarter while September was 
relatively warm in the Nordics which normally has a negative 
impact on the start of the autumn/winter season. Despite that, 
growth remained encouraging throughout the quarter.
While the market conditions continue to be pressured as 
consumer confidence remains low and the number of eyeballs 
are fewer than prior years this also provides opportunities to gain 
market share in relation to both local and international peers of 
whom many have less favourable unit economics.
Management assesses that the Group continued to take market 
share in the third quarter. Growth was fueled by a further 
increase in average order values in both stores and slightly lower 
return rates.
The execution of the Nordic Department Store continued 
successfully exemplified by 250 thousand more customers 
buying into more than one category on Boozt.com over the 
last twelve months compared to the prior twelve months. As 
multicategory buyers add significant value to the Group through 
improved average order value, loyalty and profitability this 
remains a strategic important focus area.
Net revenue increase was driven by a growth of 13.9% for 
Boozt.com and 31.3% for Booztlet.com.
Other revenue (included in net revenue) increased to SEK 64.5 
million (51.2) in the third 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 nine months of 2023 net revenue increased 10.6% 
to SEK 4,761.9 million (4,305.3). Currency had a positive impact 
on net revenue growth for the first nine months of 4.4 percentage 
points and relates primarily to the strengthening of DKK and EUR 
compared to SEK .
Net revenue geographical split
Net revenue in the Nordics increased 14.3% with the strongest 
performance in Finland followed by Denmark and Sweden. The 
growth in Rest of Europe came to 56.6%. For the third quarter, 
the most significant markets in terms of net revenue were 
Denmark and Sweden accounting for 34.4% and 33.3% of total 
net revenue respectively.
NET REVENUE – GEOGRAPHICAL SPLIT
SEK million Jul 1 - Sep 30, 2023 Jul 1 - Sep 30, 2022 Change Jan 1 - Sep 30, 2023 Jan 1 - Sep 30, 2022 Change
Nordics 1,433.3 1,253.6 14.3% 4,384.5  4,004.0 9.5%
- of which Denmark 533.6 455.4 17.2% 1,654.0  1,487.9 11.2%
- of which Sweden 515.6 511.0 0.9% 1,605.7  1,558.9 3.0%
Rest of Europe 116.7 74.5 56.6% 377.4  301.3 25.3%
Total net revenue 1,550.0 1,328.1 16.7% 4,761.9 4,305.3 10.6%
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 5

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

Year-to-date the adjusted EBIT was 3.6% that is to be compared 
to 2.7% last year. 
Total adjustments in the quarter amounted to SEK 14.3 million 
(-10.2). Adjustments include share-based payments of SEK 14.1 
million (-10.2). Year-to-date adjustments amounted to SEK 53.2 
million (19.7).
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 ,  
“Q3 Report 2023” – “Key financials”.
EBIT
EBIT improved to SEK 52.9 million (35.7) in the third quarter, with 
an increased EBIT margin of 0.7 percentage points to 3.4% (2.7).
Year-to-date EBIT increased to SEK 116.5 million (95.5), while 
the EBIT margin increased to 2.4% (2.2).
Financial items
The Group’s financial income amounted to SEK 4.6 million (0.1) 
during the third quarter. Financial costs amounted to SEK -20.0 
million (-5.5). The financial costs were driven by a SEK -10.1 
million write-down of all shares held in Liveshopper ApS, SEK 
-6.3 million (-3.6) of interest related to loans for financing the 
expansion of AutoStore and SEK -3.6 million (-1.9) of interest 
resulting from leasing contracts according to IFRS 16. Net 
financial items amounted to SEK -15.4 million (-5.4) during the 
third quarter and to SEK -23.6 million (-14.8) year-to-date.
Ta x
Tax for the period amounted to SEK -8.7 million (-6.0). The 
Group’s effective tax rate for the period was 23.3% (20.0). 
Year-to-date, the income tax amounted to SEK -3.0 (-18.0), 
corresponding to an effective tax rate of 3.2% (22.3). Tax for the 
period and year-to-date is positively impacted with SEK 16.0 
million relating to the utilisation of tax losses carried forward.
Earnings for the period
Earnings for the third quarter totalled SEK 28.8 million (24.2). 
Earnings per share before dilution amounted to SEK 0.42 (0.36). 
Earnings per share after dilution amounted to SEK 0.42 (0.35). 
Year-to-date, earnings amounted to SEK 89.9 million (62.7). 
Earnings per share before dilution amounted to SEK 1.32 (0.93). 
Earnings per share after dilution amounted to SEK 1.30 (0.92).
Working capital
The Group realised a net working capital of SEK 928.0 million 
(527.5) equivalent to 12.9% (8.4) of the net revenue for the last 
twelve months. During the third quarter the Group built up the 
inventory position to serve solid growth opportunities for the 
fourth quarter of 2023 as well as the first quarter of next year. 
The investments made are related to never-out-of-stock goods 
(“NOOS”), campaign stock bought at favourable prices as well 
as in-season goods. Investments in NOOS and campaign goods 
carries a relatively lower inventory risk (compared to seasonal 
goods) as it is inventory normally sold year round.
Availability of high-quality stock is key to gain market share in 
accordance with the Group's ambition. The decision to improve 
the offering on Booztlet.com with focus on basics and more 
true-to-season inventory, as communicated in the first quarter 
of 2023 adds to the elevated inventory level, especially as the 
growth numbers on Booztlet increased during the third quarter 
implying that the business model for Booztlet is working well in 
this market environment.
Compared to last year one of the Group’s biggest brand partners 
converted their agreement from an agent agreement to a 
wholesale agreement as Boozt made the strategic decision to 
be in full control of inventory. The conversion of this agreement 
impacted net working capital negatively with 1.2 percentage 
points compared to last year.
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.
Gross profit
Gross profit increased 16.0% to SEK 617.5 million (532.3) in the 
quarter. The gross margin of 39.8% (40.1) was slightly lower 
than last year. The conversion of a previous agent agreement 
into a wholesale agreement had a negative impact of 0.6 
percentage points in the quarter. This implies that a like-for-
like comparison of the gross margin in the quarter would be an 
increase of 0.3 percentage points. While the quarter remained 
highly promotional, the strength of the Boozt business model was 
showcased as the strong inventory position enabled accelerated 
market share gains with a sustained strong gross margin, despite 
higher input prices from brand partners. 
During the quarter, the Group built up a solid inventory position to 
secure profitable growth opportunities for the fourth quarter as 
well as the first quarter of 2024. The stock build up relates both 
to Boozt.com as well as Booztlet.com. To ensure flexibility and 
reduce inventory risk, investments are mainly towards Never-
Out-Of-Stock (NOOS)-items, Campaign stock; stock bought at 
favourable prices as well as re-runners with proven track record 
in relation to new season goods. These investments enabled the 
high growth numbers and solid margins in the quarter and are a 
prerequisite for future sustainable high growth.
For the first nine months of 2023 gross profit increased 10.6% to 
SEK 1,916.7 million (1,733.8). Gross margin was maintained at 
40.3% (40.3).
Operational costs
The fulfilment cost ratio decreased 0.9 percentage points to 
10.7% (11.6). In the third quarter, productivity improvements 
continued to materialise in our fulfilment operations. Our effort 
to strengthen key parts of our logistics organisation to harvest 
further improvements is well under way with the key objective to 
improve transparency, accountability and ownership. During the 
quarter our distribution costs developed favourably, benefitting 
from dedicated efforts to increase competition across all markets 
and guiding customers to our preferred carrier as well as a 
positive impact from the continuing increase in 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 11.3% (11.8).
The marketing cost ratio decreased compared last year to 10.5% 
(11.4) as the Group gained benefits from lower cost-per-click 
in the Nordic market. 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% (11.1).
The adjusted admin and other cost ratio decreased to 10.2% 
(11.0). While cost of personnel was on par with last year, other 
admin costs decreased due to re-evaluation of accounts payables 
in foreign currencies. Year-to-date the adjusted admin and other 
cost ratio was on par with last year 10.8% (10.8).
The deprecation cost ratio decreased slightly to 4.1% (4.2) in line 
with expectations on absolute amounts. 
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. 
Year-to-date the depreciation cost ratio was 3.9% (3.8).
Adjusted EBIT
Adjusted EBIT amounted to SEK 67.2 million (25.5) in the 
third quarter. The adjusted EBIT margin increased  with 2.4 
percentage points to 4.3% (1.9). The increased marketing 
efficiency, improvements in fulfilment and leverage on the 
adjusted admin and other expenses all impacted the margin 
positively.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 6

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

Net debt / net cash
The Group’s net cash (-) decreased to SEK -256.9 million (-495.3). 
The net debt / net cash excludes leasing liabilities.
Cash position
Cash and cash equivalents decreased to SEK 703.9 million 
(1,024.3), driven by the increased investments in stock to 
strengthen our inventory position ahead of the fourth quarter  
and beginning of next year.
Lease liabilities
Lease liabilities (current and non-current) increased compared to 
last year and amounted to SEK 493.3 million (475.4). The increase 
is primarily related to the impact from adjustments to lease 
contracts according to the Consumer Price Index taking effect 
from January 1, 2023, and the inclusion of newly established 
leasing contracts. The increase was somewhat mitigated by a 
higher discount rate and repayment of lease liabilities.
Interest-bearing liabilities
Interest-bearing liabilities (current and non-current) have 
decreased to SEK 447.0 million (529.0). The decrease is 
positively impacted by repayments of loans to finance the 
AutoStore expansion.
Non-current assets
Non-current assets increased to SEK 1,929.6 million (1,858.6). 
The increase compared to last year was mainly driven by higher 
capitalised development costs related to the ecommerce 
platform. The increase was driven by currency effects, 
inflationary pressure on and right-of-use assets under IFRS 16, 
as well as foreign exchange rate impact related to goodwill and 
trademarks, however, the impact was offset by an impairment 
write-down of the value of all shares held in LiveShopper ApS.
Equity
Equity attributable to the shareholders of the parent company 
increased to SEK 2,590.8 (2,372.2) million.
Cash flow
Cash flow for the period amounted to SEK -196.1 million (-14.4), 
driven primarily by repurchase of shares amounting to SEK 55.4 
million. Year-to-date cash flow amounted to SEK -1,075.6 million 
(-541.1).
Cash flow from operations
Cash flow from operating activities amounted to SEK -61.5 
million (122.2) in the quarter, where the Spring/Summer end-
of-season campaign contributed positively to the change in net 
working capital while being offset by inventory deliveries prior to 
the start of Autumn/Winter season during September. The Group 
has received a higher share of the Autumn/Winter goods during 
the third quarter compared to last year.
Year-to-date cash flow from operating activities amounted to SEK 
-732.7 million (-27.4) as 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. This implied a higher 
cash outflow in the first quarter of 2023. Management assesses 
that the impact on the Q1 cash flow was in the level of negative 
SEK 250 million compared to previous year.  The earlier than 
last year in deliveries for the autumn/winter season of 2023 also 
impacted the year-to-date cash flow negatively along with the 
investments related to the new Booztlet strategy of strengthening 
the selection of available inventory throughout the season.
Cash flow from investments
Cash flow from investing activities amounted to SEK -33.1 million 
(-32.2). 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 -33.1 million, 
SEK -27.1 million was related to development of the Group’s 
platform. Year-to-date cash flow from investment amounts to 
SEK -95.9 million (-612.7).
Cash flow from financing
Cash flow from financing activities amounted to SEK -101.5 million 
(-104.4) 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 -247.0 million (98.8).
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 7

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

R ED U C IN G  U N S U S TA IN A B ILITY
 C R E A T IN G  S U S TA IN A B ILIT Y
REDUCING GREENHOUSE 
GAS EMISSIONS
MINIMISING WASTE
INVOLVING 
COMMUNITIES
INTEGRATING 
SUSTAINABILITY
MITIGATING 
RISKS
ENGAGING /ampersand.case HEALTHY 
WORK ENVIRONMENT
SHAPING EMPLOYEE 
DEVELOPMENT
EMPOWERING
CUSTOMERS
ENGAGING SUPPLIERS
PROMOTING EQUALITY
DRIVING RESPONSIBLE 
PRODUCTION
ACCELERATING 
TRANSPARENCY
OUR
/one.case/two.case GOALS
Environment goals Employee goals Community goals Governance goals
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 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
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 8

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

ESG KPIs
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 99% of the order volume in Q3 2023 
(Q3 2022: 99%).
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 Q3 2023, the solar panels installed on 
the roof of the Fulfilment Centre generated a total of 157,531 
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 third quarter, 500 tons of waste were recycled, which is  
about 75.3% of the total waste generated (Q3 2022: 51.9%).  
The increase in the share of recycled waste is due to a higher 
amount of sorted and recycled plastic packaging and an increase 
in sold and 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 Q3 2023, 
reaching 86% compared to 69% in Q3 2022.
ESG KPIs Jul 1 - Sep 30, 2023 Jul 1 - Sep 30, 2022 Jan 1 - Sep 30, 2023 Jan 1 - Sep 30, 2022
CO₂e intensity per order (kg) 0.40 0.38 0.44 0.43
Share of renewable electricity (%) 98.2 97.8 98.2 98
Share of recycled waste in the Fulfilment Centre (%) 75.3 51.9 74.2 56.6
Employee Net Promoter Score (eNPS) 58 35 58 41
Average aggregated participation rate of the employee 
survey (%)
86 69 88 71
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 9

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

Development per goal area
Environmental  
Reducing GHG Emissions
• Boozt submitted for the second time the extended 
version of the Climate Change Questionnaire of CDP 
(Carbon Disclosure Project). The questionnaire is 
available here. 
• Boozt conducted an energy mapping of three main 
sites in Sweden, as required by Swedish regulations 
and in line with our commitment to improving energy 
efficiency.
• Boozt developed a Supplier Code of Conduct - 
Distribution outlining expectations for distributors 
concerning environmental, social, and governance 
matters, including CO₂e reporting.  
The new document will be signed for new distributors 
and in all future negotiations.
Minimising Waste
• Boozt attended the kick-off event of the RE-ZIP - 
EU Circular Packaging Infrastructure. The EU LIFE 
RE-ZIP is an EU-funded project from the   Programme 
for the Environment and Climate Action (LIFE) and is 
focused on a waste-free E-commerce Future. Boozt 
is delighted to participate in this relevant project 
focused on seamless infrastructures for the efficient 
processing of circular packaging, aimed at eliminating 
single-use plastics. 
Driving Responsible Production 
• Boozt and partners are assisting the Sustainable 
Apparel Coalition in developing the Brand & Retail 
Foundation module, which defines a basic standard 
for sustainability in the textile and footwear industry. 
The pilot project to develop this module has been 
temporarily put on hold, as SAC and its members' 
efforts shift towards aligning Higg BRM with CSRD 
regulation. 
Community
Involving Community
• Boozt is collaborating with the Stockholm School of 
Economics by providing a business case as part of the 
involvement in the EU LIFE RE-ZIP project focused 
on consumer behaviour change towards circular 
practices. 
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 received data from 43 brands, 
equivalent to 30% of Boozt’s business volume. 
• Boozt has strengthened the internal knowledge of  
our brand partners by developing a knowledge page  
in our partner portal including information on different 
processes; from having their products featured in our 
category Made With Care, to taking the yearly Supplier 
Survey. 
Governance 
 
Accelerating Transparency
• Update of the Corporate Website , including a new  
page for ESG Recognitions
• Boozt has submitted data to the S&P Global 
Corporate Sustainability Assessment (CSA), a 
leading sustainability assessment that reviews the 
environmental, social, and governance practices 
of more than 11,000 companies globally. The CSA 
serves as the basis for S&P Global ESG scores, used 
by investors and other stakeholders to make informed 
decisions about their investments and business 
practices.
• Boozt has shared its 2022 data with the ESG database 
of the Nasdaq ESG Portal. In return for participation, 
Boozt has been certified as a ‘Nasdaq ESG 
Transparency Partner’. By being part of the Nasdaq ESG 
database, investors are enabled to integrate this data 
into their screening process and investment decisions.
Mitigating Risks
• As part of the CDP submission, Deloitte verified Boozt’s 
2022 GHG emissions through a limited assurance 
process in accordance with ISAE 3000. The limited 
assurance process included Scope 1, 2, and all relevant 
Scope 3 GHG emissions. More information is available 
here.
Integrating Sustainability 
• Boozt conducted a comprehensive internal training  
on the EU Corporate Sustainability Reporting Directive 
(CSRD) and its impact on the Group's reporting 
obligations, engaging key stakeholders across the 
organization.
Employees
Promoting Equality 
• As part of our sponsorship for the Nordic Women in 
Tech Awards, Boozt hosted a panel discussion focused 
on the experiences of women in the tech industry and 
their journeys into this field. 
Engaging & Healthy Work Environment
• High employee engagement with an aggregated 
participation rate of 86% in Boozt’s monthly employee 
survey. The resulting Employee Net Promoter Score 
(eNPS) has improved significantly to a score of 58 (Q3 
2022: 35). Boozt continues to maintain leadership 
trainings across the organization, which we believe will 
have a long-term positive impact on the eNPS.
• Boozt is supporting equality and inclusion by providing 
free menstrual products to Boozt Fulfilment staff 
in collaboration with RedLocker, a local Swedish 
company appointed as Årets Framtidslöfte 2022 
(Rising Star of the Year 2022). 
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 10

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

Development 
by segment
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 11

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

Boozt.com
Net revenue
Net revenue increased 13.9% to SEK 1,271.6 million (1,116.1) 
in the quarter. The net revenue growth was positively impacted 
by currency effects of around 6.0 percentage points from the 
strengthening of DKK and EUR to SEK compared to the third 
quarter last year.
The overall market for fashion and lifestyle products in the 
Nordics continues to be challenged by the pressure on disposable 
income despite that inflation has started to come down in the 
region. While the high inventory levels seem to decrease amongst 
retailers, they remain elevated with brand owners as many 
retailers lower expectations on growth.
Management expects the high promotional activity in the market 
to continue in the near future as consumers are expected to 
continue to hold back due to uncertainty of disposable incomes 
affecting them during the winter months (e.g electricity prices, 
interest rates etc). 
Number of active customers increased 2% year-on-year with 
a growth of 5.7% for Nordic countries, almost 50% growth 
in the Baltics while Rest of Europe, where Germany and the 
Netherlands constitutes the majority of the customer base 
intentionally decreased 38% as the value of the Nordic and 
Baltic customers were significantly more favourable. Growth in 
the number of active customers was higher than in the second 
quarter.
The sales growth was attributed to a solid performance in 
the Nordics. Market growth was impacted by continued low 
consumer sentiment.Net revenue increased across all categories 
and the return rate was slightly improved from last year driven by 
the continued growth of the adjacent categories.
The average order value continued the positive development 
and increased 8.6% to SEK 947 (872), positively impacted by the 
average value of items sold and currency effects. The continued 
execution of the Nordic Department Store strategy resulted in a 
further diversification of sales benefiting the number of items per 
basket. Year-to-date the average order value was SEK 922 (854).
True frequency remained at 7.0 (7.0) 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 75 (76).
For the first nine months net revenue increased 11.3% to SEK 
3,930.8 million (3,531.7).
Adjusted EBIT and EBIT
Adjusted EBIT increased to SEK 49.5 million (23.5) in the quarter, 
while the adjusted EBIT margin increased with 1.8 percentage 
points to 3.9% (2.1).
The adjusted EBIT margin increased as Boozt.com’s marketing 
costs gained from lower cost-per-click in the Nordics at the 
same time as the fulfilment costs and adjusted admin & other 
improved.
The adjustment in the quarter amounted to SEK 11.5 million 
(-8.5) and consisted of share-based payments.
For the first nine months, the adjusted EBIT increased to SEK 
139.0 million (102.4), while the adjusted EBIT margin increased 
with 0.6 percentage points to 3.5% (2.9)
EBIT for the quarter increased to SEK 38.0 million (32.0) while 
year-to-date EBIT increased SEK 92.6 million (85.2).
SEK million Jul 1 - Sep 30, 
2023
Jul 1 - Sep 30, 
2022
Change Jan 1 - Sep 
30, 2023
Jan 1 - Sep 
30, 2022
Change Rolling 12 
months
Boozt.com
Net revenue 1,271.6 1,116.1 13.9% 3,930.8 3,531.7 11.3% 6,009.5
EBIT 38.0 32.0 18.9% 92.6 85.2 8.7% 250.8
EBIT margin (%) 3.0% 2.9% 0.1pp 2.4% 2.4% -0.1pp 4.2%
Adjusted EBIT* 49.5 23.5 110.6% 139.0 102.4 35.7% 308.4
Adjusted EBIT margin (%)* 3.9% 2.1% 1.8pp 3.5% 2.9% 0.6pp 5.1%
No. of orders (000)* 1,228 1,184 3.7% 3,972 3,874 2.5% 6,053
True frequency* 7.0 7.0 -0.2% 7.0 7.0 -0.2% 7.0
Average order value (SEK)* 947 872 8.6% 922 854 8.0% 934
Active customers (000)* 2,522 2,471 2.0% 2,522 2,471 2.0% 2,522
No. of orders per active customer* 2.40 2.35 2.0% 2.40 2.35 2.0% 2.40
Rounding differences may affect the summations. 
*The figure is an Alternative Performance Measure (APM) (non-IFRS), for further information see page 32.
SEK million Jul 1 - Sep 30, 
2023
Jul 1 - Sep 30, 
2022
Change Jan 1 - Sep 
30, 2023
Jan 1 - Sep 
30, 2022
Change Rolling 12 
months
Boozt.com - Net revenue
Nordics  1,193.9  1,060.6 12.6%  3,670.1  3,307.0 11.0%  5,614.7 
- of which Denmark  455.0  389.4 16.9%  1,407.0  1,216.6 15.6%  2,101.8 
- of which Sweden  418.6  429.4 -2.5%  1,321.0  1,290.5 2.4%  2,045.0 
Rest of Europe  77.8  55.5 40.2%  260.7  224.7 16.0%  394.8 
Total Net revenue 1,271.6 1,116.1 13.9% 3,930.8 3,531.7 11.3% 6,009.5
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 12

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

Booztlet.com
A consequence of the new strategy for Booztlet, implying a  
more solid offering on Booztlet.com with focus on basics and 
more true-to-season inventory is higher investments in inventory. 
This impacts the Group’s net working capital negatively but is a 
prerequisite to drive high growth rates for Booztlet. The majority 
of the investment in inventory relates to NOOS and Campaign 
stock which has a lower inventory risk than in-season stock. 
Adjusted EBIT and EBIT
Adjusted EBIT amounted to SEK 17.7 million (1.9) in the quarter, 
and the adjusted EBIT margin increased to 6.3% (0.9).
Profitability improved significantly as the average order value 
increased. The adjusted EBIT was negatively impacted by a 
slightly decreased gross margin that was offset by cost base 
improvements.
The adjustment in the quarter amounted to SEK 2.8 million  
(-1.6) and consisted fully of share-based payments.
Year-to-date, adjusted EBIT amounted to SEK 30.8 million  
(12.9) with an improved adjusted EBIT margin of 3.7% (1.7).
EBIT improved compared to last year to SEK 14.8 million 
(3.5) and the EBIT margin was 5.3% (1.7). Year-to-date, EBIT 
increased to SEK 23.9 million (10.5) and the EBIT margin 
increased to 2.9% (1.4).
Net revenue
Net revenue increased a solid 31.3% to SEK 278.4 million (212.0) 
in the quarter as the newly implemented strategy for Boozlet 
continued to deliver according to plan. The net revenue growth 
was positively impacted by currency effects of around 6.4 
percentage points from the strengthening of DKK and EUR to SEK 
compared to the Third quarter last year.
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.
Growth in the Nordics amounted to 24.1%, while the rest of 
Europe experienced a growth of 104.4% to SEK 39.0 million. 
During the third quarter of 2023 the number of active customers 
increased 5%. This indicates that the actions taken in the second 
quarter to make Boozltet even more attractive for the customers 
are working.
The average order value increased 18.7% during the third quarter 
to SEK 989 (833). 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 
currencies.
For the first nine months net revenue increased 7.4% to SEK 
831.0 million (773.6).
SEK million Jul 1 - Sep 30, 
2023
Jul 1 - Sep 30, 
2022
Change Jan 1 - Sep 
30, 2023
Jan 1 - Sep 
30, 2022
Change Rolling 12 
months
Booztlet.com
Net revenue 278.4 212.0 31.3% 831.0 773.6 7.4% 1,190.5
EBIT 14.8 3.5 323.0% 23.9 10.5 128.3% 23.3
EBIT margin (%) 5.3% 1.7% 3.7pp 2.9% 1.4% 1.5pp 2.0%
Adjusted EBIT* 17.7 1.9 844.5% 30.8 12.9 137.9% 31.7
Adjusted EBIT margin (%)* 6.3% 0.9% 5.5pp 3.7% 1.7% 2.0pp 2.7%
No. of orders (000)* 272 247 10.0% 869 933 -6.9% 1,272
Average order value (SEK)* 989 833 18.7% 923 809 14.0% 903
Active customers (000)* 775 738 5.0% 775 738 5.0% 775
No. of orders per active customer* 1.64 1.75 -6.4% 1.64 1.75 -6.4% 1.64
Rounding differences may affect the summations. 
*The figure is an Alternative Performance Measure (APM) (non-IFRS), for further information see page 32.
SEK million Jul 1 - Sep 30, 
2023
Jul 1 - Sep 30, 
2022
Change Jan 1 - Sep 
30, 2023
Jan 1 - Sep 
30, 2022
Change Rolling 12 
months
Booztlet.com - Net revenue
Nordics 239.4 193.0 24.1% 714.3 697.0 2.5% 1,031.1
- of which Denmark 78.6 66.0 19.0% 247.0 271.2 -8.9% 357.8
- of which Sweden 97.0 81.6 18.9% 284.7 268.4 6.1% 417.7
Rest of Europe 39.0 19.1 104.4% 116.7 76.6 52.4% 159.4
Total Net revenue 278.4 212.0 31.3% 831.0 773.6 7.4% 1,190.5
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 13

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

Other information
Significant events during the third quarter
Norwegian court rules in favor of Boozt in dispute with 
the Norwegian Tax Administration (Skatteetaten)
Boozt received notification that the Oslo District Court issued 
a judgement in the case involving Boozt Fashion AB and the 
Norwegian Tax Administration (Skatteetaten) (case number: 
23-029281TVI-TOSL/02). The case centres around the validity of 
the Norwegian Tax Administration's decision on September 30, 
2022, to reject Boozt’s application for simplified registration for 
value-added tax.
The Norwegian Tax Administration's rejection was grounded in its 
assertion that Boozt had engaged in what is known as domestic 
Norwegian revenue, a claim that Boozt has disputed. After a 
thorough examination of the case's circumstances, the Oslo 
District Court has determined that Boozt should not be considered 
as having domestic Norwegian revenue. Consequently, the 
Norwegian Tax Administration's decision on September 30, 2022, 
is deemed to be based on an erroneous legal interpretation. The 
judgment renders the Norwegian Tax Administration's decision 
from that date invalid, and as a result, the Norwegian state is 
obligated to reimburse Boozt for its legal expenses.
Should the judgment of the Oslo District Court become legally 
binding, it will have the indirect effect of relieving Boozt going 
forward of the obligation to pay Norwegian import duties on prod-
ucts sold to Norwegian customers. These import duties amounted 
to approximately 45 million SEK during the fiscal year 2022.
The Norwegian Tax Agency decided to appeal Oslo Tingrett's 
verdict. Boozt currently has no information about the expected 
processing time in Lagmannretten or when Lagmannsretten may 
be expected to issue a verdict in the case.
Repurchase program of own shares
On June 21, 2023 the Board of Directors initiated a repurchase 
program of own shares. The purpose of the repurchase program 
was to enable Boozt to adapt its capital structure to its capital 
needs over time and thereby contribute to an increased share -
holder value. 
The intention is that the repurchased shares shall be cancelled 
through resolutions by future general meetings. 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.
During the third quarter of 2023, 545,370 shares were purchased 
within the repurchase program. As per the date of the release 
of this report the number of shares held in own custody was 
2,436,009 whereof 1,744,867 are C-shares. Total amount used 
for the repurchase program is SEK 68.8 million as per the date of 
the release of this report.
Significant events after the reporting date
Appointment of Nomination Committee
The Nomination Committee has been formed in accordance with 
the principles adopted by the Annual General Meeting and has 
the following composition:
Anders Lund (appointed by BLS Capital), chairman of the 
Nomination Committee  
Joakim Gjersøe (appointed by Ferd AS)
Claus Wiinblad (appointed by ATP)
Henrik Theilbjørn, Chairman of the Board of Boozt AB (publ)
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 14

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

Employees
Number of employees was 1,197 (1,356) at the end of the period 
equivalent to a decrease of 11.7% impacted by the increased use 
of consultants at the warehouse operations 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, Thirdary 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 29.8 
million (18.7) 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 0.0 million (-0.1) and SEK 0.0 million (-0.1) 
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 September 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 147,479 shares per 
day during the third quarter compared to 246,431 shares per 
day in the third quarter last year. As per November 7, 2023, 
the company had around 16,600 shareholders, whereof the 
largest shareholders were BLS Capital (24.5%), Ferd (12.1%), 
ATP (5.7%), Invesco (4.6%), Norges Bank (3.9%) and Första 
AP-Fonden (3.6%).
The market value for the Company as per September 30, 2023 
amounted to SEK 6,016 million. The total number of shares at the 
end of the reporting period amounted to 68,289,488, whereof 
1,744,867 C shares are held in own custody. 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 third quarter LTIP 
2020/2023 was fully vested and consequently 735,359 shares 
were allotted to the participants.
The programs contain different performance criterions and con -
straints. More information of the Groups long-term incentive pro -
grams 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
With strong results in the third quarter and a competitive inven -
tory position ahead of peak, Boozt upgrades the outlook for 2023 
for both net revenue growth and profitability.
The Group now expects a net revenue growth for 2023 of 11-15% 
(previously 7.5-12.5%) and an adjusted EBIT of SEK 350-390 
million (previously SEK 300-350 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. 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.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 15

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

Consolidated income statement Consolidated statement of 
comprehensive income
SEK million unless otherwise indicated Note Jul 1 - Sep 30, 
2023
Jul 1 - Sep 30, 
2022
Jan 1 - Sep 30, 
2023
Jan 1 - Sep 30, 
2022
Rolling 12 month
OPERATING INCOME
Net revenue 2 1,550.0 1,328.1 4,761.9 4,305.3 7,200.0
Other operating income 9.1 - - - 0.2
Total operating income 1,559.1 1,328.1 4,761.9 4,305.3 7,200.2
OPERATING COSTS
Goods for resale -932.5 -795.8 -2,845.1 -2,571.5 -4,350.2
Other external costs -338.0 -309.4 -1,061.9 -991.2 -1,590.8
Cost of personnel -171.9 -123.6 -546.1 -482.9 -738.8
Depreciation and amortisation of tangible and 
intangible assets
-63.9 -55.4 -187.8 -163.9 -246.4
Other operating costs - -8.4 -4.5 -0.2 0.0
Total operating costs -1,506.2 -1,292.4 -4,645.3 -4,209.8 -6,926.1
OPERATING PROFIT (EBIT) 2 52.9 35.7 116.5 95.5 274.1
FINANCIAL INCOME AND EXPENSES
Financial  income 4.6 0.1 15.8 0.1 20.7
Financial costs 3 -20.0 -5.5 -39.4 -14.9 -46.5
Net financial items -15.4 -5.4 -23.6 -14.8 -25.8
PROFIT BEFORE TAX 2 37.5 30.3 92.9 80.7 248.3
Income tax -8.7 -6.0 -3.0 -18.0 -35.1
PROFIT FOR THE PERIOD 28.8 24.2 89.9 62.7 213.2
Average number of shares (000) 68,289 67,468 68,031 67,343 67,889
Average number of shares after dilution (000) 69,289 68,318 68,880 68,396 68,738
Earnings per share (SEK) 0.42 0.36 1.32 0.93 3.14
Earnings per share after dilution (SEK) 0.42 0.35 1.30 0.92 3.10
SEK million Note Jul 1 - Sep 30, 
2023
Jul 1 - Sep 30, 
2022
Jan 1 - Sep 30, 
2023
Jan 1 - Sep 30, 
2022
Rolling 12 month
RESULT FOR THE PERIOD  28.8  24.2  89.9  62.7 213.2
ITEMS THAT MAY BE RE-CLASSIFIED TO THE 
INCOME STATEMENT:
Translation differences  -17.3 10.2  13.2 26.6 -16.4
TOTAL COMPREHENSIVE PROFIT FOR THE 
PERIOD
 11.5  34.4  103.1  89.3  196.9 
ATTRIBUTABLE TO
Parent company’s shareholders  11.5  34.4  103.1  89.3 196.9
Non-controlling interest  - -  - -  - 
Rounding differences may affect the summations.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 16

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

Consolidated statement of financial position
SEK million unless otherwise indicated Note Sep 30, 2023 Sep 30, 2022 Dec 31, 2022
ASSETS
Non-current assets
Intangible assets
Trademarks 4  96.5  91.8 93.6
Goodwill 4  308.8  294.1 299.8
Web platform 4  196.4  156.9 164.5
 601.7  542.8 557.9
Tangible assets
Right of use asset  478.5  463.7 526.1
Machinery and equipment 4  806.2  815.9 866.5
 1,284.7  1,279.6 1,392.6
Financial assets
Deposits  8.7  9.0 8.0
Shares in associated companies  14.3  20.5 27.2
Deferred tax asset  20.3 6.7 6.3
 43.2  36.2 41.5
Total non-current assets  1,929.6  1,858.6 1,992.0
Current assets
Inventory  3,078.0  2,240.5 2,038.6
Accounts receivable 3  66.6  57.3 30.3
Other receivables 3  156.4  81.7 68.7
Current tax receivables  5.6  5.0 1.7
Prepaid expenses and accrued income  88.7  96.8 83.5
Cash and cash equivalents 3  703.9  1,024.3 1,777.2
Total current assets  4,099.2  3,505.6 4,000.1
TOTAL  ASSETS  6,028.8  5,364.2 5,992.1
SEK million unless otherwise indicated Note Sep 30, 2023 Sep 30, 2022 Dec 31, 2022
EQUITY AND LIABILITIES
EQUITY
Share capital  5.7  5.6 5.6
Other capital contributions  2,272.5  2,231.7 2,234.4
Reserves  52.6  30.3 34.6
Retained earnings including profit for the period  260.0  104.6 227.9
Total equity  2,590.8  2,372.2 2,502.6
Non-current liabilities
Non-current interest bearing liabilities 3  350.6  381.1 402.1
Non-current lease liabilities 3  419.5  394.5 457.4
Other non-current liabilities 3  - - 0.2
Other non-current provisions 3  11.6  15.6 30.1
Deferred tax liabilities  19.6  18.5 18.6
Total non-current liabilities  801.3  809.8 908.4
Current liabilities
Current interest bearing liabilities 3  96.4  147.9 168.0
Current lease liabilities 3  73.8  80.9 81.1
Accounts payable 3  1,980.6  1,381.2 1,384.9
Current tax liabilities  28.0  59.4 82.1
Other liabilities 3  130.8  168.5 386.2
Accrued expenses and prepaid income  327.1  344.4 478.9
Total current liabilities  2,636.7  2,182.2 2,581.1
Total  liabilities  3,438.0  2,992.0 3,489.5
TOTAL EQUITY AND LIABILITIES  6,028.8  5,364.2 5,992.2
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 17

===== SIDA 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 - - - 62.7 62.7 - 62.7
Other comprehensive income - - 26.6 - 26.6 - 26.6
COMPREHENSIVE PROFIT/LOSS FOR THE PERIOD 0.0 0.0 26.6 62.7 89.4 0.0 89.4
Share capital increase - - - - - - -
Sharebased compensation - 29.8 - - 29.8 - 29.8
Acquisition of minority shares - - - 76.6 76.6 -121.1 -44.6
Total transaction with owners 0.0 29.8 0.0 76.6 106.4 -121.1 -14.8
Equity carried forward Sep 30, 2022 5.6 2,231.7 30.3 104.6 2,372.2 0.0 2,372.2
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 2,502.6
Profit for the period - - - 89.9 89.9 - 89.9
Other comprehensive income - - 13.2 - 13.2 - 13.2
COMPREHENSIVE PROFIT/LOSS FOR THE PERIOD 0.0 0.0 13.2 89.9 103.1 0.0 103.1
Share capital increase 0.1 - - -0.1 - - -
Sharebased compensation - 42.9 - - 42.9 - 42.9
Share buyback - 0.0 - - -57.8 - -57.8
Total transaction with owners 0.1 42.9 0.0 -57.8 -14.9 0.0 -14.9
Equity carried forward Sep 30, 2023 5.7 2,272.5 52.6 260.0 2,590.8 0.0 2,590.8
Rounding differences may effect the summations
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 18

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

Consolidated statement of cash flow
SEK million Note Jul 1 - Sep 30, 
2023
Jul 1 - Sep 30, 
2022
Jan 1 - Sep 30, 
2023
Jan 1 - Sep 30, 
2022
Rolling 12 
month
CASH FLOW FROM OPERATING ACTIVITIES BEFORE CHANGES IN 
WORKING CAPITAL
Operating  profit 52.9 35.7 116.5 95.5 274.1
Adjustments for non-cash items:
  Non-cash remuneration from share based payments (social charges) -26.4 -3.3 -18.4 -24.6 -10.5
  Non-cash remuneration from share based payments 14.1 -6.9 42.9 29.8 40.8
  Change in other provisions 2.0 -10.7 -0.1 -10.8 6.2
  Depreciation 63.3 55.4 187.0 163.9 245.6
  Other items not included in cash flow 1.0 0.6 - -0.2 1.0
Interest received 0.3 0.1 15.8 0.1 20.7
Interest paid 3 -5.6 -5.1 -28.4 -14.9 -35.4
Paid income tax -12.8 -0.3 -74.8 24.6 -79.8
CASH FLOW FROM OPERATING ACTIVITIES BEFORE CHANGES IN 
WORKING CAPITAL
88.9 65.5 240.7 263.4 462.8
CASH FLOW FROM CHANGES IN WORKING CAPITAL
Changes in inventory -926.5 -437.5 -1,039.1 -508.7 -837.1
Changes in current assets -70.6 -49.9 -135.9 11.5 -85.1
Changes in current liabilities 846.8 544.1 201.7 206.6 559.6
Cash flow from changes working capital -150.4 56.7 -973.4 -290.6 -362.7
CASH FLOW FROM OPERATING ACTIVITIES -61.5 122.2 -732.7 -27.2 100.1
SEK million Note Jul 1 - Sep 30, 
2023
Jul 1 - Sep 30, 
2022
Jan 1 - Sep 30, 
2023
Jan 1 - Sep 30, 
2022
Rolling 12 
month
CASH FLOW FROM INVESTING ACTIVITIES
Acquisition of subsidiaries, net liquidity effect 4 - - -2.5 -186.6 -11.3
Investments in fixed assets 4 -5.8 -13.4 -17.5 -371.1 -92.2
Change in financial assets 4 -0.2 -0.4 -0.7 -0.7 0.2
Investments in intangible assets 4 -27.1 -18.4 -75.2 -54.3 -95.3
CASH FLOW FROM INVESTING ACTIVITIES 4 -33.1 -32.2 -95.9 -612.7 -198.6
CASH FLOW FROM FINANCING ACTIVITIES
Share buyback -55.4 - -57.8 - -57.8
New loans - - 58.0 384.1 127.0
Repayments of loans -24.1 -86.2 -181.1 -228.4 -208.9
Repayments of lease liability -22.0 -18.2 -66.1 -56.9 -86.4
CASH FLOW FROM FINANCING ACTIVITIES -101.5 -104.4 -247.0 98.8 -226.1
Cash flow for the period -196.1 -14.4 -1,075.6 -541.1 -324.6
Currency exchange gains/losses in cash and cash equivalents -1.0 0.7 2.3 0.5 4.2
Cash and cash equivalents beginning of period 901.0 1,038.0 1,777.2 1,564.9 1,024.3
CASH AND CASH EQUIVALENTS END OF PERIOD 703.9 1,024.3 703.9 1,024.3 703.9
Rounding differences may affect the summations.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 19

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

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 third quarter of 2023 is SEK 6.25 million and SEK 18.75 million for the first nine months 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 Jul 1 - Sep 30, 
2023
Jul 1 - Sep 30, 
2022
Change Jan 1 - Sep 30, 
2023
Jan 1 - Sep 30, 
2022
Change Rolling 12 month
NET REVENUE
Boozt.com 1,271.6 1,116.1 155.6 3,930.8 3,531.7 399.1 6,009.5
Booztlet.com 278.4 212.0 66.3 831.0 773.6 57.4 1,190.5
TOTAL NET REVENUE 1,550.0 1,328.1 221.9 4,761.9 4,305.3 456.6 7,200.0
EBIT
Boozt.com 38.0 32.2 5.8 92.6 85.2 7.4 250.8
Booztlet.com 14.8 3.6 11.2 23.9 10.6 13.4 23.3
TOTAL EBIT 52.9 35.8 -63.0 116.5 95.8 -63.0 274.1
EARNINGS BEFORE TAX
Boozt.com 23.6 27.6 -4.1 67.7 72.9 -5.1 224.1
Booztlet.com 13.9 2.8 11.2 26.1 8.1 18.1 25.2
EARNINGS BEFORE TAX 37.5 30.4 7.1 93.9 80.9 12.9 249.2
Rounding differences may affect the summations.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 20

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

Note 3 - Financial instruments
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 0.7 million (1.0). 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.
Sep 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 9.0 - - 9.0 9.0
Accounts receivables 57.3 - - 57.3 57.3
Other receivables 80.6 - 1.0 81.7 81.7
Cash and cash equivalents 1,024.3 - - 1,024.3 1,024.3
Total financial assets 1,171.1 0.0 1.0 1,172.2 1,172.2
Financial liabilities
Liabilities to credit institutions - 529.0 - 529.0 529.0
Accounts payables - 1,381.2 - 1,381.2 1,381.2
Other liabilities - 164.5 6.1 170.6 170.6
Lease liabilities - 475.4 - 475.4 475.4
Total financial liabilities 0.0 2,550.0 6.1 2,556.1 2,556.1
Sep 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 8.7 - - 8.7 8.7
Accounts receivables 66.6 - - 66.6 66.6
Other receivables 155.7 - 0.7 156.4 156.4
Cash and cash equivalents 703.9 - - 703.9 703.9
Total financial assets 934.9 0.0 0.7 935.6 935.6
Financial liabilities
Liabilities to credit institutions - 4 47.0 - 4 47.0 4 47.0
Accounts payables - 1,980.6 - 1,980.6 1,980.6
Other liabilities - 130.8 2.3 133.1 133.1
Lease liabilities - 493.3 - 493.3 493.3
Total financial liabilities 0.0 3,051.7 2.3 3,054.0 3,054.0
SEK million Jul 1 - Sep 30, 2023 Jul 1 - Sep 30, 2022 Jan 1 - Sep 30, 2023 Jan 1 - Sep 30, 2022 Rolling 12 months
Interest Income 4.6 0.1 15.8 0.1 20.7
Interest expenses -6.3 -3.6 -20.4 -9.2 -25.3
Interest expense leases -3.6 -1.9 -7.9 -5.8 -10.1
Net change in value of receivables 
measured at fair value via income 
statement
-10.1 - -11.0 - -11.0
Total net financial items -15.4 -5.4 -23.6 -14.8 -25.8
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 21

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

Note 4 - Investments
• Acquisition of fixed assets (warehouse capex) relates to the expansion phases of AutoStore at the Fulfilment Centre. 
• Acquisition of subsidiaries refers to earn out payments regarding the acquisition of operation  of Boozt Technology Baltics 
UAB.  
• Acquisition of intangible assets relates to capitalised development costs on the Group’s own developed platforms.
SEK million Jul 1 - Sep 30, 
2023
Jul 1 - Sep 30, 
2022
Jan 1 - Sep 30, 
2023
Jan 1 - Sep 30, 
2022
Rolling 12 months
Acquisition of fixed assets (other capex) -4.5 -0.4 -7.1 -9.1 -7.5
Acquisition of fixed assets (warehouse capex) -1.3 -12.9 -10.4 -362.0 -84.7
-5.8 -13.4 -17.5 -371.1 -92.2
Acquisition of subsidiaries - - -2.5 -186.6 -11.3
Change in financial assets -0.2 -0.4 -0.7 -0.7 0.2
-0.2 -0.4 -3.2 -187.2 -11.1
Acquisition of intagible assets (capitalised development 
costs)
-24.3 -17.6 -68.2 -52.0 -88.2
Acquisition of intagible assets (other) -2.8 -0.8 -7.0 -2.3 -7.1
-27.1 -18.4 -75.2 -54.3 -95.3
Cash flow from investments -33.1 -32.1 -95.9 -612.6 -198.6
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 22

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

Parent company income statement
SEK million unless otherwise indicated Jul 1 - Sep 30, 2023 Jul 1 - Sep 30, 2022 Jan 1 - Sep 30, 2023 Jan 1 - Sep 30, 2022
OPERATING INCOME
Net revenue 29.8 18.7 83.9 55.9 
Total operating income 29.8 18.7 83.9 55.9 
OPERATING COSTS
Other external costs -1.6 -1.9 -6.2 -6.3 
Cost of personnel -27.1 -10.2 -90.0 -57.1 
Total operating costs -28.7 -12.1 -96.3 -63.4 
OPERATING PROFIT (EBIT) 1.1 6.6 -12.4 -7.5 
FINANCIAL INCOME AND EXPENSES
Financial income 0.1 - 26.7 -
Financial expenses - - - -0.1 
Net financial items 0.1 -0.0 26.7 -0.1 
PROFIT AFTER FINANCIAL ITEMS 1.2 6.5 14.4 -7.6 
Group contributions -1.2 -6.6 -14.4 7.5 
RESULT BEFORE TAX -0.0 -0.1 -0.0 -0.1 
Income tax - - - -
PROFIT FOR THE PERIOD -0.0 -0.1 -0.0 -0.1 
Rounding differences may affect the summations.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 23

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

Parent company financial position
SEK million Sep 30, 2023 Sep 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 2.0 0.4 0.4
Receivables from Group companies 1,033.8 779.8 796.9
Current tax assets 0.1 0.1 0.1
Prepaid expenses and accrued income 0.6 0.3 0.2
Cash and cash equivalents 16.8 4.5 4.5
Total current assets 1,053.3 785.2 802.1
TOTAL  ASSETS 1,911.7 1,943.8 1,967.4
EQUITY AND LIABILITIES
Equity
Restricted equity
Share capital 5.7 5.6 5.6
5.7 5.6 5.6
Unrestricted equity
Share premium reserve 2,104.1 2,136.9 2,136.4
Retained earnings -265.8 -266.5 -266.5
Earnings for the period - -0.1 0.7
1,838.3 1,870.2 1,870.6
TOTAL EQUITY 1,844.0 1,875.9 1,876.2
LIABILITIES
Non-current liabilities
Other provisions 5.9 9.1 19.0
Total non-current liabilities 5.9 9.1 19.0
Current liabilities
Accounts payable 0.6 0.6 0.4
Liabilities to Group companies 37.8 37.8 37.8
Other liabilities 1.6 3.0 8.0
Accrued expenses and prepaid income 21.8 17.4 26.0
Total current liabilities 61.9 58.8 72.1
TOTAL LIABILITIES 67.7 67.9 91.1
TOTAL EQUITY AND LIABILITIES 1,911.7 1,943.8 1,967.4
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 24

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

Audit
This report has been subject to a limited review by the Group’s auditors.  
Signatures 
The undersigned certifies 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, November 6, 2023
HERMANN HARALDSSON  
GROUP CEO 
In accordance with authorization given by the Board of Directors
Review Report
BOOZT AB (PUBL), CORP. ID: 556793-5183
Introduction
We have reviewed the interim report for Boozt AB (publ) for the period January 1 – September 30, 2023. The Board of 
Directors and the President are responsible for the preparation and presentation of this interim report in accordance 
with IAS 34 and the Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on 
our review.
Scope of Review
We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410, Review 
of Interim Financial Information Performed by the Independent Auditor of the Entity. A review consists of making 
inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other 
review procedures. A review has a different focus and is substantially less in scope than an audit conducted in 
accordance with ISA and other generally accepted auditing practices. The procedures performed in a review do not 
enable us to obtain a level of assurance that would make us aware of all significant matters that might be identified 
in an audit. Therefore, the conclusion expressed based on a review does not give the same level of assurance as a 
conclusion expressed based on an audit.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the interim report is not, in all 
material respects, prepared for the Group in accordance with IAS 34 and the Annual Accounts Act, and for the Parent 
Company in accordance with the Annual Accounts Act.
 
Malmö, November 6, 2023
Deloitte AB
 
Didrik Roos
Authorized Public Accountant
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 25

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

Additional 
information
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 26

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

Information by quarter
SEK million unless otherwise indicated Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020
NET REVENUE
Boozt.com 1,271.6 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
Booztlet.com 278.4 306.6 246.1 359.5 212.0 276.3 285.3 270.0 200.3 205.5 199.8 177.3
NET REVENUE 1,550.0 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
OPERATING PROFIT/LOSS (EBIT)
Boozt.com 38.0 49.0 5.5 158.4 32.0 49.1 3.8 113.1 11.1 67.4 44.9 85.4
Booztlet.com 14.8 17.1 -8.0 -0.5 3.5 15.6 -8.6 4.9 -3.7 13.5 13.3 16.6
OPERATING PROFIT/LOSS (EBIT) 52.9 66.1 -2.5 157.9 35.5 64.7 -4.8 117.9 7.4 80.9 58.3 102.0
OPERATING PROFIT/LOSS (EBIT) %
Boozt.com 3.0% 3.6% 0.4% 7.6% 2.9% 3.8% 0.3% 6.7% 1.1% 5.3% 4.8% 6.8%
Booztlet.com 5.3% 5.6% -3.3% -0.2% 1.7% 5.6% -3.0% 1.8% -1.8% 6.6% 6.7% 9.4%
OPERATING PROFIT/LOSS (EBIT) % 3.4% 3.9% -0.2% 6.5% 2.7% 4.2% -0.3% 6.0% 0.6% 5.5% 5.1% 7.2%
EARNINGS BEFORE TAX
Boozt.com 23.6 41.5 2.3 156.5 27.6 44.7 0.6 106.8 5.8 65.2 42.1 81.5
Booztlet.com 13.9 20.7 -8.6 -0.9 2.7 14.7 -9.3 3.8 -3.7 12.2 12.7 17.5
EARNINGS BEFORE TAX 37.5 62.2 -6.3 155.7 30.2 59.3 -8.8 110.7 2.1 77.4 54.8 99.0
ADJUSTED EBIT
Boozt.com 49.5 67.7 21.8 169.6 23.5 63.1 15.7 140.7 25.6 84.6 53.6 120.1
Booztlet.com 17.7 18.0 -4.9 1.0 1.9 18.0 -6.9 8.8 -1.3 15.5 15.1 20.6
ADJUSTED EBIT 67.2 85.6 17.0 170.7 25.3 81.0 8.8 149.5 24.3 100.1 68.7 140.7
ADJUSTED EBIT %
Boozt.com 3.9% 4.9% 1.7% 8.2% 2.1% 4.9% 1.4% 8.3% 2.5% 6.7% 5.7% 9.6%
Booztlet.com 6.3% 5.9% -2.0% 0.3% 0.9% 6.5% -2.4% 3.3% -0.6% 7.5% 7.6% 11.6%
ADJUSTED EBIT % 4.3% 5.1% 1.1% 7.0% 1.9% 5.2% 0.6% 7.6% 2.0% 6.8% 6.0% 9.9%
Rounding differences may affect the summations.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 27

===== SIDA 28 =====

Information by quarter
SEK million unless otherwise indicated Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3  
2021
Q2  
2021
Q1  
2021
Q4  
2020
EBIT MARGIN (%)
Gross margin (%) 39.8% 42.3% 38.5% 38.3% 40.1% 41.3% 39.3% 41.0% 40.4% 39.9% 40.3% 43.0%
Fulfillment cost ratio (%) -10.7% -11.2% -12.1% -10.5% -11.6% -11.4% -12.6% -12.1% -12.2% -11.4% -11.1% -11.0%
Marketing cost ratio (%) -10.5% -11.1% -10.0% -10.7% -11.4% -11.0% -11.0% -10.2% -12.0% -9.6% -10.6% -10.1%
Admin & other cost ratio (%) -11.1% -12.3% -12.5% -8.2% -10.3% -11.3% -12.2% -10.4% -12.0% -10.8% -10.1% -12.4%
Depreciation (%) -4.1% -3.7% -4.0% -2.4% -4.2% -3.5% -3.8% -2.4% -3.5% -2.6% -3.3% -2.3%
EBIT MARGIN (%) 3.4% 3.9% -0.2% 6.5% 2.7% 4.2% -0.3% 6.0% 0.6% 5.5% 5.1% 7.2%
Adjusted admin & other cost ratio (%) -10.2% -11.1% -12.5% -7.7% -11.0% -10.2% -11.3% -8.8% -10.7% -9.5% -9.2% -9.7%
Net working capital - percent of LTM net revenue 12.9% 11.1% 9.7% -1.6% 8.4% 9.6% 7.7% 4.8% 9.7% 7.5% 7.8% 1.7%
BOOZT.COM
No. of orders (000) 1,228 1,447 1,297 2,081 1,184 1,413 1,277 1,943 1,200 1,574 1,163 1,543
True frequency  7.0 6.8 6.9 5.8  7.0  6.6  6.9  5.9  6.9  6.3  6.7  6.0 
Average order value (SEK)  954 893 938 959  872  853  838  837  807  803  815  819 
Active customers (000) 2,522 2,503 2,508 2,503 2,471 2,477 2,531 2,503 2,331 2,257 2,158 2,043
No. of orders per active customer  2.40  2.40  2.38  2.38  2.35  2.35  2.37  2.35  2.35  2.33  2.32  2.30 
BOOZTLET.COM
No. of orders (000)  272 339 258 404  247  342  345  361  264  292  277  255 
Average order value (SEK)  989 872 920 861  833  791  810  723  714  669  705  640 
Active customers (000)  775 753 748 775  738  733  691  657  594  564  539  469 
No. of orders per active customer 1.64 1.66 1.67 1.73 1.75 1.79 1.83 1.82 1.83 1.83 1.81 1.79
NET REVENUE - GEOGRAPHICAL SPLIT
Nordics 1,193.9 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
- of which Denmark 455.0 492.3 459.7 694.8 389.4 439.0 388.3 600.1 363.0 443.5 368.9 465.1
- of which Sweden 418.6 470.0 432.3 724.1 429.4 462.8 398.3 557.8 379.1 435.4 300.7 431.2
Rest of Europe 356.1 398.6 337.0 493.6 267.5 352.6 378.2 407.9 262.5 294.8 264.0 258.2
TOTAL NET REVENUE 1,550.0 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
Rounding differences may affect the summations.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
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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 , “Q3 Report 2023” – “Key financials”.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
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===== SIDA 30 =====

Financial calendar
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:
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. 
The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on 
November 7, 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.
BOOZT GROUPINTERIM FINANCIAL REPORT Q3 2023
PAGE – 30

===== SIDA 31 =====

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