Kvartalsrapport Q1 2023

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

CLAS OHLSON NINE - MONTH REPORT 2022/23  1  
 
 
 
 
 
 
  
*The 2022/23 financial year comprises the period from 1 May 2022 to 30 April 2023.  
Contact person:  
Niklas Carlsson, Group Head of Communications  
+46 247 444 29, niklas.carlsson@clasohlson.se   
This is information that Clas Ohlson AB (publ) is obliged to publish pursuant to the EU Market Abuse 
Regulation. This information was submitted for publication, through the agency of the contact person 
indicated, on 8 March 2023 at 7:00 a.m. (CET). 
 
This nine-month Report is an English translation of the Swedish original. In the event of any discrepancies, 
the Swedish version shall govern. 
 
 Nov 2022 Nov 2021 Percentage May 2022 May 2021 Percentage Feb 2022 May 2021
 - Jan 2023 - Jan 2022 change - Jan 2023 - Jan 2022 change - Jan 2023 - Apr 2022
Sales, MSEK 2,954 2,831 4 7,248 7,004 3 9,028 8,784
Operating profit, MSEK 215 378 -43 312 729 -57 302 719
Profit after tax, MSEK 158 287 -45 204 538 -62 188 523
Gross margin, % 38.2 41.5 -3.3 p.p 37.2 41.4 -4.2 p.p 37.7 41.0
Operating margin, % 7.3 13.3 -6.1 p.p 4.3 10.4 -6.1 p.p 3.3 8.2
Return on capital employed, % – – – – – – 8.2 17.4
Return on equity, % – – – – – – 9.9 23.3
Cashflow from operating activities, 
MSEK 1,148 634 81 947 1,301 -27 629 986
Equity/assets ratio, % 29.2 36.1 -6.9 p.p 29.2 36.1 -6.9 p.p 29.2 37.3
Net debt/EBITDA ratio – – – – – – 1.5 0.9
Net debt/EBITDA excl. IFRS 16 ratio – – – – – – -0.1 -0.5
Earnings per share before dilution, SEK 2.50 4.53 -45 3.21 8.49 -62 2.97 8.25
3 Months 9 Months 12 Months
Third quarter – 1 November  to 31 January  
• Sales increased by 4% to 2,954 MSEK (2,831), with 
organic sales up 2%  
• Online sales increased by 4% to 343 MSEK (329) 
• Operating profit totalled 215 MSEK (378). 
Excluding previously announced non-recurring 
costs, operating profit amounted to 334 MSEK 
(378) 
• The operating margin was 7.3% (13.3) 
• Net debt/EBITDA (12 months) excluding the effect 
of IFRS 16 amounted to -0.1 times (-1.1) 
• Profit after tax totalled 158 MSEK (287) 
• Earnings per share amounted to 2.50 SEK (4.53) 
• The resolved dividend paid amounted to 412 MSEK 
(the second of two separate payments) 
 
Nine months – 1 May to 31 January  
• Sales increased by 3% to 7,248 MSEK (7,004), with 
organic sales up 1% 
• Online sales increased by 11% to 834 MSEK (750) 
 
 
• Operating profit totalled 312 MSEK (729). 
Excluding previously announced non-
recurring costs and costs for the closure of 
operations in the UK, operating profit totalled 
466 MSEK (704 MSEK excluding a non-
recurring payment from Fora). 
• The operating margin was 4.3% (10.4) 
• Profit after tax totalled 204 MSEK (538) 
• Earnings per share amounted to 3.21 SEK 
(8.49) 
 
Events after the end of the reporting period 
• Sales in February increased by 1% to 541 
MSEK (534), up 2% organically 
• Online sales in February decreased by 5% to 
60 MSEK (63) 
 
 
 
 
 
ORGANIC GROWTH  
QUARTER  
 
 
OPERATING PROFIT  
QUARTER  
 
 
Nine-month report 
2022/23 
215 
MSEK 
+2%

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

CEO’S COMMENTS 
CLAS OHLSON NINE - MONTH REPORT 2022/23  2  
 
Continued growth and rapid pace of transformation  
The third quarter of the 2022/23 financial year confirmed the relevance of important parts of 
our business. Clas Ohlson’s position as a popular Christmas destination was confirmed with a 
favourable sales trend in November and December, in an otherwise weak retail market.  
In January, when customers wanted to start the new year with organized homes, we 
had the right assortment on the shelf. In total, sales increased by 4 per cent during the 
quarter, and organic sales growth was 2 per cent.  
 
Favourable position in the prevailing market situation  
Simplifying home fixing for customers remains a beneficial position as more people are 
choosing to take care of and repair things they already own. Demand for products and 
energy saving know-how, as well as products that reduce food waste and lower food 
costs, remains high. In addition to driving sales, this is entirely in line with our 
sustainability agenda and ambition to help customers save money and live more 
sustainable lives. Customers are also becoming increasingly positive about the Clas 
Ohlson experience. The already high customer satisfaction level increased further 
during the quarter to an NPS of 57, product reviews remained high at 4.4 on a scale of 1 
to 5, and our leading price position has further improved in relation to the low-price 
players in the industry. 
 
Growth  strategy focusing on the customer  
The Club Clas loyalty programme reached a new milestone having now surpassed five 
million members. Nine out of ten of these members are active and the most loyal of 
these currently account for the largest portion of our profitability and growth. The 
strong membership inflow in Finland is particularly gratifying, with the number of active 
members increasing by over 50 per cent in the past year as part of our growth plan. In 
addition, customer traffic and sales trends have been good in many stores, but 
continued to vary depending on location. Despite having five stores less year-on-year, 
we still managed to increase total sales during the quarter. We see this as evidence 
that it is wise to continue to optimise the store network to ensure that Clas Ohlson is 
present where the customer is, with conditions for each store to contribute to our 
profitability targets. Even if online growth in the quarter did not reach the desired level, 
it faired relatively well compared with an otherwise weak online market. Online 
shopping will remain an important growth driver for Clas Ohlson’s total sales in the 
years ahead. 
 
More simple operations driving sustainable and profitable growth  
We have continued to place considerable focus on profitability and the previously 
announced cost saving measures have been implemented according to plan. Non-
recurring costs of 119 MSEK related to personnel reductions at our offices and the 
disposal of IT systems are thus included in operating profit, which amounted to 215 
MSEK (378) in the third quarter. The operating margin was 7.3 per cent (13.3). As 
previously, high purchasing and transport costs and a weak SEK have negatively 
impacted the gross margin. Lately, global transport prices have rapidly fallen, but the 
uncertain economic environment and cost inflation mean that we will continue to have 
a strong focus on streamlining our processes and reducing costs. One example is how 
we, with a more cost efficient organization, expanded purchasing activities to more 
manufacturing markets. This work will give us even better opportunities to offer the 
right quality and price to our customers going forward. There is also further potential 
for more efficient inventory management moving forward given that the major 
disruptions to the global logistics chains during the pandemic has been put to end. This 
has allowed us to return to more normal lead times for placing orders and deliveries.  
 
 
 
 
 
 
THE CLUB CLAS LOYALTY 
PROGRAMME REACHED A 
NEW MILESTONE HAVING 
NOW SURPASSED FIVE 
MILLION MEMBERS

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

CEO’S COMMENTS 
CLAS OHLSON NINE - MONTH REPORT 2022/23  3  
 
Focus on the things we can control  
In conclusion, I would like to highlight all good efforts from our employees who, faced with a 
challenging retail market, have managed to maintain their focus on the things that we can 
control ourselves. By consistently working with the foundations of our operations such as the 
customer meeting, product range, availability and value for money, we are creating customer 
and shareholder value for both today and tomorrow. Another important area that we can 
impact is the sustainability work, where we recently raised our ambitions further. Our long-term 
target to be climate neutral across the entire value chain by 2045 remains, but we now also 
have set the target of being climate neutral in our own operations in only three years, by 
2026.  
 
We are now looking forward to a spring in which we will continue to strengthen our 
customer offering in the most important destination categories, such as lighting, tools and 
equipment for home fixing, both indoors and outdoors. Welcome to Clas Ohlson this spring! 
 
 
 
 
 
Kristofer Tonström 
President and CEO of Clas Ohlson AB 
 
 
 
 
Strategic focus areas 
• Customer offering: Own key product 
categories 
• Availability and convenience in our sales 
channels 
• Club Clas: Core customer focus 
• Growth in Finland 
Financial targets/framework 
• Sales will increase organically 5 per cent 
annually 
• The reported operating margin (including 
IFRS 16) will amount to between 7 and 9 per 
cent annually 
• The dividend is to comprise at least 50 per 
cent of earnings per share after tax, 
considering the company’s financial 
position  
• Net debt in relation to EBITDA to fall below 
two (2) times Investments are being 
planned as regards financial position, cash 
flow and strategic activities 
Focus areas Sustainability 
• The Planet: Climate neutral and fully circular 
by 2045, climate neutral in own operations 
by 2026 
• People: A sustainable and long-term 
employer with happy co-workers  
• Society: Contributing to a fair and 
prosperous society for future generations 
Q3 presentation, 8 March 9:00 a.m. Financial calendar Contents  
The report will be presented at 9:00 a.m. via a webcast 
teleconference. For more information, visit 
https://about.clasohlson.com 
Financial information 
Current financial information is available at 
about.clasohlson.com/en/investors 
8 June 2023 Year-end Report 2022/23 
 
Financial statements 10 
6 September 
 
Three-month Report 2023/24 Key ratios 15 
8 September 
 
Annual General Meeting 
 
Quarterly overview 16 
6 December 2023 Six-month Report 2023/24 
 
Accounting policies 18 
  Alternative performance 
 
19 
  Key ratio definitions 22 
  Glossary 24 
  Store overview 25 
  The share 26 
  Clas Ohlson in brief 27

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  4  
 
Sales 
   
  
 
Third quarter 
Sales increased 4 per cent to 2,954 MSEK (2,831). Organic sales increased 2 per cent 
compared with the preceding year. Online sales increased by 4 per cent to 343 MSEK 
(329). At the end of the quarter, the total number of stores was 224, which was a decrease 
of a net five stores compared with the year-earlier period (a net increase of two stores in 
the previous year). For a store overview see page 25. 
 
Nine months 
Sales increased 3 per cent to 7,248 MSEK (7,004). Organic sales increased by 1 per cent 
compared with the preceding year. Online sales increased 11 per cent to 834 MSEK (750). 
The store network was reduced by a net of five stores during the nine-month period (an 
increase of one in the previous year). 
 
 
 
 
 Nov 2022 Nov 2021 May 2022 May 2021
MSEK - Jan 2023 - Jan 2022 SEK organic - Jan 2023 - Jan 2022 SEK organic
Sweden 1,300 1,267 3 3 3,241 3,168 2 2
Norway 1,318 1,234 7 3 3,160 3,014 5 0
Finland 336 313 7 -0 834 778 7 1
Outside the Nordics -0 17 – – 13 43 – –
Total 2,954 2,831 4 2 7,248 7,004 3 1
Of which online 
sales 343 329 4 2 834 750 11 9
3 Months 9 Months
Distribution of sales
Percentage change Percentage change
Distribution of sales increase
3 Months 9 Months 
 Nov 2022 May 2022
Per cent - Jan 2023 - Jan 2023
Organic growth 2 1
Exchange-rate effects 2 2
Total 4 3
 Q3 Q4 Q1 Q2 Q3
% 21/22 21/22 22/23 22/23 22/23
Sweden 0.3 -7.8 -16.0 -24.4 -24.2
Norway -5.1 -13.8 -20.9 -29.4 -27.5
Finland -1.3 -7.3 -13.9 -16.9 -16.0
*Source: Opinion AS
Consumer Confidence development*
Distribution per sales channel, % 
 
 
 
Distribution of sales R12, % 
 
Distribution of numbers of stores 
 
 
Sales, MSEK 
 
 
Distribution of sales, % 
 
 
88
12
Q3
St ores Onl ine
88
12
R12
St ores Onl ine
0
20
40
60
80
100
Swede n Norway Fi nl an d
0
500
1000
1500
2000
2500
3000
3500
Q1 Q2 Q3 Q4
2021/22 2022/23
44
45
11
Q3
Sweden Norway Finland

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  5  
 
Results 
 
 
Third quarter 
The gross margin fell by 3.3 percentage points to 38.2 per cent (41.5). The gross margin was 
negatively impacted by macro-related factors such as increased sourcing costs and an 
overall negative currency effect during the quarter. This was partially offset by operational 
factors such as the product mix and increased retail prices. 
 
The share of selling expenses declined by 0.5 percentage points to 25.7 per cent (26.3). 
The share declined mainly as a result of higher sales. 
 
Administrative expenses amounted to -51 MSEK (-51). There was a continued major focus 
on costs.  
 
Operating profit totalled 215 MSEK (378). Excluding previously announced non-recurring 
costs of 119 MSEK, operating profit amounted to 334 MSEK (378). The operating margin 
was 7.3 per cent (13.3). Profit after financial items totalled 200 MSEK (362). Depreciation 
for the quarter amounted to 194 MSEK (191).  
 
Spot exchange rates for key currencies averaged 1.05 for NOK and 10.47 for USD, 
compared with 1.02 and 9.01, respectively, in the year-earlier period. Currency hedging was 
undertaken in USD and NOK. Currency hedging that fell due during the quarter had a 
negative impact of 5 MSEK (NOK) on earnings and a positive impact on inventory value 
through a decrease of 11 MSEK (USD). The company’s policy is to hedge 50 per cent of the 
expected flow in each currency continuously, with three- to nine-month maturities. 
 
Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
MSEK - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Sales 2,954 2,831 7,248 7,004 9,028 8,784
Cost of goods sold -1,826 -1,657 -4,553 -4,106 -5,626 -5,179
Gross profit 1,128 1,174 2,695 2,898 3,402 3,605
Selling expenses -760 -744 -2,090 -2,037 -2,757 -2,704
Administrative expenses -51 -51 -145 -152 -193 -200
Other operating income*/expenses** -102 -1 -148 21 -150 19
Operating profit*** 215 378 312 729 302 719
Extracts from Consolidated Income Statement 
*Non-recurring payment of consolidation fund from FORA during Q2 last year amounted to 24.9 MSEK
**Total cost for discontinuation of operations in the UK was -35.0 MSEK during the first quarter
***One-off cost related to disposal of IT system was -99.9 MSEK recognised in Other operating expenses during
     the third quarter (remaining costs allocated: Cost of goods sold -6.1 MSEK, Selling expenses -4.9 MSEK,
     Administrative expenses -5.5 MSEK, Other operating expenses -2.4 MSEK)
3 Months 9 Months 12 Months
Specification of change in profits
3 Months 9 Months
Nov 2022 May 2022
MSEK - Jan 2023 - Jan 2023
Operating profit corresponding period previous year 377.9 729.2
Profit from sales 36.5 55.7
Change in gross margin -96.4 -303.8
Change in administrative expenses 0.2 5.8
Change in expansion costs stores 0.4 -1.0
Change in depreciation, excl IFRS 16 -0.7 -5.1
Change in other operating income/expenses -100.9 -168.7
Accounting policy effect, IFRS 16 -1.8 -0.7
Operating profit actual period 215.2 311.5
Gross margin  
rolling 12 months, % 
 
 Share of  
selling expenses, % 
 
 Operating profit, MSEK 
 
 
Operating margin  
rolling 12 months, % 
 
 
35.0
36.0
37.0
38.0
39.0
40.0
41.0
42.0
43.0
Q 3
20 21/2 2
Q 4 Q 1
20 22/2 3
Q 2 Q 3
0. 0
10.0
20.0
30.0
40.0
Q1 Q2 Q3 Q4
2021/22 2022/23
-150
-50
50
150
250
350
450
Q1 Q2 Q3 Q4
2021/22 2022/23
0. 0
2. 0
4. 0
6. 0
8. 0
10.0
12.0
14.0
Q 3
20 21/2 2
Q 4 Q 1
20 22/2 3
Q 2 Q 3

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  6  
 
Nine months  
The gross margin fell by 4.2 percentage points to 37.2 per cent (41.4). The main reason is a 
result of macro-related factors such as increased sourcing costs and an overall negative 
currency effect during the period. 
 
The share of selling expenses declined by 0.3 percentage points to 28.8 per cent (29.1). 
The share declined mainly as a result of higher sales. 
 
Administrative expenses declined compared with the preceding year and amounted to 
 - 145 MSEK (-152). There was a continued major focus on costs. 
 
Operating profit totalled 312 MSEK (729). Excluding previously announced non-recurring 
costs of 119 MSEK and costs for the closure of operations in the UK, operating profit 
totalled 466 MSEK. The cost of the closure of the remaining operations in the UK, which 
was charged to the first quarter, amounted to approximately 35 MSEK. In the previous 
year, the company received 25 MSEK as a non-recurring payment from Fora relating to 
the surplus within the collectively agreed AGS health insurance. The operating margin was 
4.3 per cent (10.4). Profit after financial items totalled 265 MSEK (681). Depreciation for the 
period amounted to 589 MSEK (565). 
 
Spot exchange rates for key currencies averaged 1.05 for NOK and 10.46 for USD, 
compared with 1.00 and 8.71, respectively, in the year-earlier period. Currency hedging was 
undertaken in USD and NOK. Currency hedging that fell due during the period had a 
negative impact of 14 MSEK (NOK) on earnings and a positive impact on inventory value 
through a decrease of 63 MSEK (USD). The company’s policy is to hedge 50 per cent of 
the expected flow in each currency continuously, with three- to nine-month maturities. 
Investment s 
Investments during the nine-month period amounted to 101 MSEK (116). Of this amount, 
investments in new or refurbished stores accounted for 34 MSEK (41). Investments in IT 
systems for the period amounted to 36 MSEK (37). The shares in Mathem were measured 
at fair value amounting to 59 MSEK, unchanged during the quarter and a decrease of 99 
MSEK during the nine-month period. 
 
During the quarter, measures were taken to streamline the company’s IT systems to better 
reflect the company’s strategy and simplified work processes. This has resulted in 
disposals and impairment of 100 MSEK.

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  7  
 
 
Financing and liquidity  
Cash flow from operating activities during the nine-month period totalled 947 MSEK 
(1,301). Cash flow for the period, after investing and financing activities, was 
 - 377 MSEK (412). The resolved dividend was paid out in two separate payments of 6.50 
SEK per share each (September and January). Payments made during the nine-month 
period amounted to 824 MSEK. 
 
The average 12-month value of inventories was 2,394 MSEK (1,875). Over a rolling 12-
month period, the stock turnover rate at the distribution centre was 4.5 times (5.7). 
 
At the end of the quarter, the inventory value was 2,125 MSEK (1,950). During the current 
financial year, the inventory value was impacted by external factors, such as increased costs 
for the purchase of products related to such factors as a weaker SEK in relation to the 
purchasing currency (USD) and higher costs for incoming transports. Compared with the 
end of second quarter, inventory value has reduced considerably as a consequence of 
efficient inventory control and increased sales. 
 
The Group’s net debt at the end of the period, meaning interest-bearing liabilities less cash 
and cash equivalents, amounted to 1,626 MSEK (975). Excluding the effect of IFRS 16, net 
debt in relation to EBITDA was -0.1 times (-1.1), which is in accordance with the company’s 
financial framework. Credits granted and loan commitments amounted to 800 MSEK, of 
which 12 MSEK had been utilised at the end of the period. The company’s financial position 
remains strong. The equity/assets ratio was 29 per cent (36). 
Employees  
The number of employees in the Group was approximately 4,900. Recalculated to (rolling 
12-month average) full-time equivalents (FTEs), this corresponds to an average of 3,152 
(3,099). 
Sustainability  
During the quarter, the proportion of suppliers audited to be free of critical deviations was 
99.0 per cent (99.4% Q2 22/23). The number of environmental assessments carried out 
increased somewhat in the third quarter compared with the previous quarter to 169 (165 Q2 
22/23), corresponding to 85 per cent of our purchasing volume.  
 
Work on product assessments according to the Product Sustainability Assessment Model 
(PSAM) continued. At the end of the quarter, over 50 per cent of the sales volume of our 
own brands was assessed according to PSAM. Work is continually being carried out to make 
the assortment more sustainable, for example, by changing to more local suppliers, 
increased use of recycled plastic and a broader offering of spare parts in more stores. 
During the quarter, it was confirmed that Clas Ohlson received the score “B” in CDP’s annual 
Climate Change global ranking for the seventh year in a row. Clas Ohlson has a long-term 
target of being climate neutral across the entire value chain by 2045 and the company has 
now supplemented this target with a target of becoming climate neutral in own operations 
by 2026.
Cash flow, MSEK* 
 
*From operating activities 
Suppliers free from critical findings, % 
 
 
Environmental assessments, completed 
 
 
Share of products in relation to sales volume 
(own brand) assessed according to PSAM, % 
 
 
 
 
 
 
 
 
 
 
 
-500
0
500
1000
1500
Q1 Q2 Q3 Q4
2021/22 2022/23
0. 0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
100. 0
Q 4
20 21/2 2
Q 1
20 22/2 3
Q 2 Q 3
0
20
40
60
80
100
120
140
160
180
Q 4
20 21/2 2
Q 1
20 22/2 3
Q 2 Q 3
20.0
25.0
30.0
35.0
40.0
45.0
50.0
Q 4
20 21/2 2
Q 1
20 22/2 3
Q 2 Q 3

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  8  
 
Seasonal fluctuations  
Clas Ohlson’s market and operations are influenced by consumer purchasing behaviour. 
The company’s product range is particularly well suited to Christmas preparations and 
Christmas shopping, which means that the third quarter (November-January) is generally 
the strongest quarter of the financial year. This is followed by the second and first quarters 
and, finally, the fourth quarter, which is the weakest in terms of sales and profit. 
Parent Company  
Parent Company sales in the nine-month period amounted to 5,944 MSEK (5,460) and 
profit after financial items amounted to 120 MSEK (217). Investments for the period 
amounted to 70 MSEK (74). Contingent liabilities for the Parent Company amounted to 172 
MSEK (192).  
Cost savings  
Clas Ohlson has intensified efforts to simplify and streamline the organisation. Within the 
context of this, the company is reducing the workforce by approximately 85 full-time 
employees. Measures are also being taken to rationalise the IT system and reduce office 
space. All of the changes are being made to better reflect the company’s strategy and 
simplified work processes. The actions are expected to deliver cost savings and reduced 
depreciation totalling approximately 110 MSEK with full effect in the 2023/24 financial year. 
The actions also entail non-recurring costs of approximately 119 MSEK recognised in the 
third quarter of 2022/23. These comprise 100 MSEK of disposals of IT systems and the 
remaining 19 MSEK is primarily costs for headcount reductions. The above costs have had 
a minor impact on cash flow. 
Events after the end of the reporting period  
Sales in February 
Sales in February increased by 1 per cent to 541 MSEK (534). Organic sales increased by 2 
per cent compared with the preceding year. Online sales decreased by 5 per cent to 60 
MSEK (63). Compared with the same month of the preceding year, the store portfolio was 
reduced by a net of five stores (unchanged in the preceding year). The total number of 
stores at the end of the period was 224 (229). For a store overview see page 25. 
 
 
Total sales in the first ten months of the financial year (May-February) increased by 3 per 
cent to 7,789 MSEK (7,537). Organic sales increased by 1 per cent compared with the 
preceding year. Online sales increased by 10 per cent to 894 MSEK (813). 
 
 
Distribution of sales   
MSEK Feb 2023 Feb 2022 SEK organic 
May-Feb 
2023 
May-Feb 
2022 SEK organic 
Sweden 250 244 3 3 3,492 3,412 2 2
Norway 229 227 1 3 3,389 3,241 5 1
Finland 62 59 5 -1 896 837 7 1
Outside the Nordics 0 4 – – 13 47 – –
Total 541 534 1 2 7,789 7,537 3 1
Of which online sales 60 63 -5 -5 894 813 10 8
Percentage change 
Month Accumulated
Percentage 
change

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  9  
 
Risks and uncertainties  
To develop an attractive and relevant customer offering and to ensure our 
competitiveness, we must understand how our business environment is changing. The 
operations that Clas Ohlson conduct entail risks that could negatively impact the Group to 
varying extents. These risks are divided into strategic, operational and financial risks.  
 
When managed correctly, risks may lead to opportunities and add value to the business. 
 
We work continuously to update the Group’s risk situation through a systematic process in 
which risks are identified, evaluated, managed and reported. Priority is assigned to the risks 
assessed as having the greatest negative impact in terms of probability and conceivable 
effects on operations. This work contributes to the strategic and operational management 
of the company. 
 
Risks of a strategic character primarily comprise risks associated with changes in the 
business environment and increased competition, shifts in technology and in customers’ 
purchasing habits, market positioning, and product range and offering as well as growth. 
Operational risks are mainly risks associated with purchasing and products, sustainability, 
IT systems, logistics, key individuals, leases, shrinkage and regulatory risks, while risks of a 
financial nature consist primarily of risks associated with changes in the economy, 
currency exposure, transport costs, raw material prices and salary inflation. 
 
For a detailed description of the Group’s significant risks and risk management, refer to 
pages 63-67 of the 2021/22 Annual Report. Risks and uncertainties associated with 
COVID-19 and the developments in Ukraine, the effects of these and potential impact on 
the Group’s operations and earnings are routinely evaluated and monitored. The same 
applies to the macro situation at large with increased inflation and higher interest-rates. 
 
Nomination Committee and the 2023 Annual General Meeting 
The members of the Nomination Committee were appointed based on the ownership 
structure at 30 September 2022. Malin Persson, nominated by the Haid owner family, is 
Chairman of the Nomination Committee. The other members are Kenneth Bengtsson, 
Chairman of the Board of Clas Ohlson AB, Johan Ståhl, nominated by the Tidstrand owner 
family, Ricard Wennerklint, nominated by If Skadeförsäkring AB and Richard Torgerson, 
nominated by Nordea Funds. 
The Annual General Meeting will be held on 8 September 2023. For more information, visit 
https://about.clasohlson.com/en/corporate-governance/nomination-committee/  
Audit 
This report is unaudited. 
 
Clas Ohlson AB (publ) 
Insjön, 8 March 2023 
 
 
Kristofer Tonström 
President and CEO

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  10  
 
Financial statements 
 
  
Consolidated Income Statement
Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
MSEK - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Sales 2,954.2 2,831.3 7,248.0 7,003.6 9,028.0 8,783.7
Cost of goods sold -1,825.8 -1,657.2 -4,553.0 -4,105.9 -5,626.0 -5,178.9
Gross profit 1,128.4 1,174.0 2,695.0 2,897.7 3,402.1 3,604.8
Selling expenses -760.4 -743.7 -2,090.3 -2,037.5 -2,756.7 -2,703.9
Administrative expenses -50.6 -51.2 -145.2 -151.7 -193.4 -199.9
Other operating income*/expenses** -102.1 -1.2 -148.0 20.7 -150.2 18.5
Operating profit*** 215.2 377.9 311.5 729.2 301.7 719.4
Financial income 1.2 0.5 2.9 1.0 3.9 2.0
Financial expenses -16.5 -16.4 -49.5 -49.3 -65.3 -65.1
Profit after financial items 199.9 362.0 264.8 680.9 240.3 656.4
Income tax**** -41.5 -75.3 -61.2 -142.9 -52.3 -133.9
Profit for the period 158.3 286.7 203.7 538.1 188.0 522.5
***One-off cost related to disposal of IT system was -99.9 MSEK, recognised in Other operating expenses during the third quarter
    (remaining costs allocated: Cost of goods sold -6.1 MSEK, Selling expenses -4.9 MSEK, Administrative expenses -5.5 MSEK,
    Other operating expenses -2.4 MSEK)
****Deferred tax asset amounting to 6.5 MSEK was reversed during the second quarter as cost due to discontinuation of operations in the UK
*Non-recurring payment of consolidation fund from FORA during Q2 last year amounted to 24.9 MSEK
3 Months 9 Months 12 Months
**Total cost for discontinuation of operations in the UK was -35.0 MSEK during the first quarter
Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
MSEK - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Profit for the period 158.3 286.7 203.7 538.1 188.0 522.5
Other comprehensive income, net of tax:
Items that later can be reversed back to the 
Consolidated income statement:
Exchange rate differences 1.8 32.2 11.3 26.6 -0.1 15.2
Cash flow hedging -17.5 11.9 -12.9 21.8 0.6 35.4
Total -15.7 44.1 -1.6 48.4 0.5 50.6
Items that later can not be reversed back to the 
Consolidated income statement:
Change in fair value of financial assets 0.0 -22.1 -99.1 -48.6 -198.3 -147.8
Total 0.0 -22.1 -99.1 -48.6 -198.3 -147.8
Total other comprehensive income, net of tax -15.7 22.0 -100.7 -0.1 -197.8 -97.2
Total comprehensive income for the period 142.6 308.7 102.9 537.9 -9.8 425.3
Profit for the period attributable to:
Parent Company shareholders 158.3 286.7 203.7 538.1 188.0 522.5
Non-controlling interests 0.0 0.0 0.0 0.0 0.0 0.0
Comprehensive income attributable to:
Parent Company shareholders 142.6 308.7 102.9 537.9 -9.8 425.3
Non-controlling interests 0.0 0.0 0.0 0.0 0.0 0.0
3 Months 9 Months 12 Months
Consolidated Comprehensive Income Statement

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  11  
 
 
 
 
 
 
 
 
  
Data per share
Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
- Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Number of shares before dilution 63,356,565 63,351,333 63,356,527 63,351,269 63,355,261 63,351,284
Number of shares after dilution 63,357,238 63,358,615 63,357,209 63,358,405 63,355,944 63,358,847
Number of shares at end of period 63,356,565 63,351,333 63,356,565 63,351,333 63,356,565 63,351,333
Earnings per share before dilution, SEK 2.50 4.53 3.21 8.49 2.97 8.25
Earnings per share after dilution, SEK 2.50 4.52 3.21 8.49 2.97 8.25
Comprehensive income per share, SEK 2.25 4.87 1.62 8.49 -0.15 6.71
3 Months 9 Months 12 Months
Consolidated Balance Sheet
31 Jan 31 Jan 30 Apr
MSEK 2023 2022 2022
Assets
Intangible assets 337.4 498.1 486.4
Tangible assets 691.7 752.1 737.7
Right-of-use assets 1,600.6 1,801.6 1,678.8
Securities held as fixed assets 58.9 257.3 158.0
Non-current receivables 86.7 101.2 94.7
Inventories 2,125.3 1,949.7 2,198.6
Other receivables 156.6 151.1 137.8
Cash and cash equivalents 81.4 948.9 456.6
Total assets 5,138.6 6,460.0 5,948.6
Equity and liabilities
Equity 1,502.5 2,335.0 2,221.6
Long-term lease liabilities, interest bearing 1,167.6 1,371.4 1,255.3
Long-term liabilities, non-interest bearing 201.9 216.2 209.2
Current lease liabilities, interest bearing 528.1 552.3 534.4
Current liabilities, interest bearing 11.8 0.0 0.0
Current liabilities, non-interest bearing 1,726.6 1,985.0 1,728.1
Total equity and liabilities 5,138.6 6,460.0 5,948.6

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  12  
 
 
  
 Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
MSEK - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Operating profit 215.2 377.9 311.5 729.2 301.7 719.4
Adjustment for items not included in cash flow 324.0 203.2 718.9 577.4 901.7 760.2
Interest received 1.2 0.5 2.9 1.0 3.9 2.0
Interest paid -16.5 -16.4 -49.5 -49.3 -65.3 -65.1
Tax paid -8.4 -19.6 -103.6 -67.9 -157.0 -121.2
Cash flow from operating activities before 
changes in working capital
515.5 545.5 880.1 1,190.5 985.0 1,295.4
Change in working capital 632.6 88.9 66.8 110.9 -356.2 -309.3
Cash flow from operating activities 1,148.1 634.4 946.8 1,301.4 628.8 986.1
Investments in intangible assets -4.8 -13.1 -35.6 -37.5 -51.2 -53.0
Investments in tangible assets -18.0 -19.3 -65.3 -72.2 -92.4 -99.4
Investments in securities held as fixed assets 0.0 0.0 0.0 -6.3 0.0 -6.2 
Change in current investments 0.0 0.0 0.0 0.1 0.8 0.9
Cash flow from investing activities -22.7 -32.4 -100.9 -115.8 -142.8 -157.7
Change in current liabilities, interest-bearing -590.1 0.0 11.8 0.0 11.8 0.0
Repayment of lease liabilities -134.5 -123.1 -410.8 -378.3 -543.9 -514.1
Change in non-current receivable 0.0 0.0 0.0 0.8 0.1 0.9
Dividend to shareholders -411.8 -197.7 -823.6 -395.9 -823.6 -395.9 
Cash flow from financing activities -1,136.4 -320.8 -1,222.6 -773.4 -1,355.6 -909.2
Cash flow for the period -11.1 281.3 -376.7 412.1 -869.6 -80.8
Cash and cash equivalents at the start of the period 92.1 665.1 456.6 533.8 948.9 533.8
Exchange rate differencs in cash and cash equivalents 0.4 2.5 1.5 3.0 2.2 3.7
Cash and cash equivalents at the end of the 
period
81.4 948.9 81.4 948.9 81.4 456.6
3 Months 9 Months 12 Months
Consolidated Cash Flow

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  13  
 
 
 
 
 
 
 
 
Sales by segment
Nov 2022 Nov 2021 May 2022 May 2021
MSEK - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022
Sweden 1,299.9 1,267.4 3,241.1 3,168.0
Norway 1,318.0 1,234.0 3,160.4 3,014.1
Finland 336.2 313.2 833.9 778.1
Outside Nordic countries 0.0 16.7 12.6 43.4
Group functions 999.1 841.6 2,703.1 2,292.5
Elimination of sales to other segments -999.1 -841.6 -2,703.1 -2,292.5
Total 2,954.2 2,831.3 7,248.0 7,003.6
3 Months 9 Months
Operating profit by segment
Nov 2022 Nov 2021 May 2022 May 2021
MSEK - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022
Sweden 54.2 52.0 135.1 130.1
Norway 56.3 50.9 134.9 127.1
Finland 11.0 8.6 27.3 25.0
Outside Nordic countries 0.0 0.3 0.4 1.5
Group functions 93.8 266.1 13.8 445.5
Total 215.2 377.9 311.5 729.2
3 Months 9 Months
Change in equity
May 2022 May 2021
MSEK - Jan 2023 - Jan 2022
Equity brought forward 2,221.6 2,195.2
Dividend to shareholders -823.6 -395.9
Acquired non-controlling interest 0.0 -6.2
Paid-in option premiums:
Value of employee services 1.6 4.1
Total comprehensive income 102.9 537.9
Equity carried forward 1,502.5 2,335.0
9 Months

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  14  
 
 
 
 
 
 
 
  
31 Jan 31 Jan
MSEK 2023 2022
Securities held as fixed assets,
 valued at fair value at the beginning of the year 158.0 305.8
Change in fair value -99.1 -48.6
Securities held as fixed assets,
 valued at fair value at the end of the period 58.9 257.3
The assessed valuation takes into account Mathem's future capital needs. Mathem is valued at a 
discount of 35 percent compared to the multiple referenced from a peer group of inventory-holding e-
commerce retailers. 
Equity value of 58.9 MSEK. A +/- 10% change in the multiple would have affected the value by +/- 5.9 
MSEK.
Value changes are accounted for in other comprehensive income. 
Valuation method for securities held as fixed assets, level 3:
Company: MatHem, 5% shareholding
Valuation Method: 
The assessed valuation implies a multiple of 0.6 times the company's revenues per 30th September 
2022 and is based on latest available rolling twelve months revenue.
Securities held as fixed assets, valued at fair value
The table below indicates fair value for financial assets in the Group. The financial instruments are 
categorized on three levels:
Level 1: Fair value established based on listed prices in an active market for the same instrument.
Level 2: Fair value established based on valuation techniques with observable market data, either 
directly (as a price) or indirectly (derived from a price) and not included in Level 1.
Level 3: Fair value established using valuation techniques, with significant input from data that is not 
observable in the market. 
Forward contracts
31 Jan 31 Jan
MSEK 2023 2022
Sell/buy
NOK/SEK 2.0 -8.9
NOK/USD -2.6 7.5
Total -0.6 -1.4
As per balance-sheet date, outstanding cash-flow hedging existed according to the following table 
per currency pair (carrying amount and fair value)
Forward contracts belong to the derivative category, which is used for hedging purposes. All derivatives are measured at fair value, 
established by using forward contract prices on balance-sheet date, meaning, level 2 in the fair value hierarchy according to IFRS 13. As 
per 31 January 2023 there are positive and negative market values in the currency pairs. Forward contracts with negative market value 
totalled 6.0 MSEK (9.5), which was recognized in the item Current liabilities, non-interest bearing. Forward contracts with positive market 
values amounted to 5.4 MSEK (8.1), which is recognized in the item Other receivables. The company hedge the expected flow in each 
currency every month, with three to nine-month maturities. A deferred tax asset of 0.1 MSEK (0,3) was taken into account and the 
remaining fair value of -0.5 MSEK (-1,1) was recognized in the hedging reserve within equity. The amount for forward contracts 
NOK/USD of -2.6 MSEK (7.5) is allocated on the currency pair NOK/SEK with 3,0 MSEK (-11,0) and on the currency pair SEK/USD with -
5,6 MSEK (18.5).

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  15  
 
 
 
 
 
  
Key ratios
 Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
 - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Sales growth, % 4.3 7.4 3.5 3.8 5.7 6.0
Gross margin, % 38.2 41.5 37.2 41.4 37.7 41.0
Operating margin, % 7.3 13.3 4.3 10.4 3.3 8.2
Return on capital employed, % – – – – 8.2 17.4
Return on equity, % – – – – 9.9 23.3
Equity/assets ratio, % 29.2 36.1 29.2 36.1 29.2 37.3
Net debt/EBITDA – – – – 1.5 0.9
Sales per sq.m in stores, SEK thousand 10.6 10.1 25.3 25.2 31.4 30.7
Number of stores at period end 224 229 224 229 224 229
Average number of employees 3,105 3,159 3,165 3,159 3,152 3,147
Data per share
Number of shares before dilution 63,356,565 63,351,333 63,356,527 63,351,269 63,355,261 63,351,284
Number of shares after dilution 63,357,238 63,358,615 63,357,209 63,358,405 63,355,944 63,358,847
Number of shares at period end 63,356,565 63,351,333 63,356,565 63,351,333 63,356,565 63,351,333
Earnings per share before dilution, SEK 2.50 4.53 3.21 8.49 2.97 8.25
Earnings per share after dilution, SEK 2.50 4.52 3.21 8.49 2.97 8.25
Comprehensive income per share, SEK 2.25 4.87 1.62 8.49 -0.15 6.71
Cash flow per share*, SEK 18.12 10.01 14.94 20.54 9.93 15.57
Equity per share, SEK 23.71 36.86 23.71 36.86 23.71 35.07
3 Months 9 Months 12 Months
* From operating activities
Summary of the effect of IFRS 16
 Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
 - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Operating profit, MSEK 215.2 377.9 311.5 729.2 301.7 719.4
Operating profit, excl. IFRS 16, MSEK 198.4 359.4 254.9 672.0 224.7 641.9
Profit after financial items, MSEK 199.9 362.0 264.8 680.9 240.3 656.4
Profit after financial items, excl IFRS 16, MSEK 197.3 359.1 251.5 670.6 221.6 640.6
Profit for the period, MSEK 158.3 286.7 203.7 538.1 188.0 522.5
Profit for the period, excl. IFRS 16, MSEK 156.3 283.8 193.1 529.3 173.2 509.2
Equity/assets ratio, % 29.2 36.1 29.2 36.1 29.2 37.3
Equity/assets ratio, excl. IFRS 16, % 45.5 52.8 45.5 52.8 45.5 54.8
Net debt/EBITDA - - - - 1.5 0.9
Net debt/EBITDA, excl IFRS 16 - - - - -0.1 -0.5
3 mån 12 mån 12 mån

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  16  
 
Quarterly overview 
  
 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
MSEK 20/21 20/21 21/22 21/22 21/22 21/22 22/23 22/23 22/23
Sales 2,635.3 1,538.5 2,055.6 2,116.8 2,831.3 1,780.1 2,043.6 2,250.2 2,954.2
Of which online sales 288.2 273.8 218.8 202.0 329.0 221.5 232.0 258.3 343.5
Cost of goods sold -1,546.1 -925.2 -1,244.4 -1,204.3 -1,657.2 -1,073.0 -1,325.3 -1,401.9 -1,825.8
Gross profit 1,089.2 613.3 811.2 912.5 1,174.0 707.1 718.3 848.4 1,128.4
Selling expenses -683.3 -629.7 -614.1 -679.7 -743.7 -666.4 -648.8 -681.0 -760.4
Administrative expenses -46.8 -48.0 -49.7 -50.7 -51.2 -48.3 -44.4 -50.2 -50.6
Other operating income/expenses -0.9 0.3 -0.3 22.2 -1.2 -2.2 -41.2 -4.7 -102.1
Operating profit 358.3 -64.0 147.1 204.2 377.9 -9.8 -16.2 112.5 215.2
 
Financial income 0.1 0.1 0.3 0.3 0.5 1.0 1.0 0.7 1.2
Financial expenses -15.5 -15.9 -16.4 -16.5 -16.4 -15.7 -15.5 -17.5 -16.5
Profit after financial items 342.8 -79.8 131.0 188.0 362.0 -24.5 -30.6 95.6 199.9
Income tax -78.0 15.1 -27.6 -39.9 -75.3 9.0 6.5 -26.1 -41.5
Profit for the period 264.8 -64.7 103.3 148.1 286.7 -15.6 -24.1 69.5 158.3
Assets  
Intangible assets 546.0 538.3 527.2 511.6 498.1 486.4 475.3 460.8 337.4
Tangible assets 764.2 786.8 772.5 763.0 752.1 737.7 714.3 711.3 691.7
Right-of-use assets 1,824.2 1,915.0 1,860.6 1,828.6 1,801.6 1,678.8 1,604.4 1,573.0 1,600.6
Securities held as fixed assets 270.3 305.8 300.8 279.4 257.3 158.0 131.7 58.9 58.9
Non-current receivables 72.1 109.4 101.0 103.6 101.2 94.7 92.5 95.3 86.7
Inventories 1,574.8 1,831.7 1,793.3 2,114.1 1,949.7 2,198.6 2,475.7 2,811.3 2,125.3
Other receivables 110.0 106.6 109.3 130.1 151.1 137.8 170.1 199.9 156.6
Cash and cash equivalents 956.7 533.8 756.6 665.1 948.9 456.6 260.1 92.1 81.4
Total assets 6,118.4 6,127.4 6,221.2 6,395.4 6,460.0 5,948.6 5,924.1 6,002.7 5,138.6
 
Equity and liabilities  
Equity attributable to owners of the parent 2,212.0 2,189.4 2,315.7 2,029.7 2,335.0 2,221.6 2,168.7 1,358.5 1,502.5
Equity attributable to non-controlling interests 6.1 5.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total equity 2,218.1 2,195.2 2,315.7 2,029.7 2,335.0 2,221.6 2,168.7 1,358.5 1,502.5
Long-term lease liabilities, interest bearing 1,446.9 1,542.7 1,483.4 1,441.2 1,371.4 1,255.3 1,198.6 1,163.4 1,167.6
Long-term liabilities, non-interest bearing 217.4 209.9 220.3 212.9 216.2 209.2 208.1 206.4 201.9
Current lease liabilities, interest bearing 470.6 498.8 499.9 509.2 552.3 534.4 512.5 509.1 528.1
Current liabilities, interest bearing 0.0 0.0 0.0 0.0 0.0 0.0 0.0 601.9 11.8
Current liabilities, non-interest bearing 1,765.3 1,680.7 1,701.9 2,202.5 1,985.0 1,728.1 1,836.3 2,163.5 1,726.6
Total equity and liabilities 6,118.4 6,127.4 6,221.2 6,395.4 6,460.0 5,948.6 5,924.1 6,002.7 5,138.6
Key ratios for the period  
Gross margin, % 41.3 39.9 39.5 43.1 41.5 39.7 35.1 37.7 38.2
Operating margin, % 13.6 -4.2 7.2 9.6 13.3 -0.6 -0.8 5.0 7.3
Earnings per share before dilution, SEK 4.18 -1.02 1.63 2.34 4.53 -0.25 -0.38 1.10 2.50
Earnings per share after dilution, SEK 4.18 -1.02 1.63 2.33 4.52 -0.25 -0.38 1.10 2.50
Equity per share, SEK 35.02 34.65 36.55 32.04 36.86 35.07 34.23 21.44 23.71

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  17  
 
 
 
 
 
 
 
  
Parent Company Income Statement
Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
MSEK Note - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Sales 2,299.1 2,109.1 5,944.2 5,460.5 7,671.2 7,187.5
Cost of goods sold 1 -1,645.7 -1,507.4 -4,431.5 -3,907.8 -5,618.5 -5,094.8
Gross profit 653.4 601.7 1,512.6 1,552.7 2,052.6 2,092.7
Selling expenses 1 -401.0 -437.3 -1,126.3 -1,229.0 -1,428.2 -1,530.9
Administrative expenses 1 -41.5 -41.7 -120.7 -126.9 -148.8 -155.0
Other operating income/expenses -101.6 -1.1 -138.0 22.6 -139.6 21.0
Operating profit 109.2 121.6 127.7 219.4 336.2 427.9
Dividends from group companies 0.0 0.0 0.0 0.0 177.9 177.9
Financial income 0.9 0.2 1.9 0.3 3.0 1.4
Financial expenses -4.7 -1.0 -9.8 -2.2 -10.8 -3.2
Profit after financial items 105.4 120.9 119.8 217.5 506.3 604.0
Appropriations 0.0 0.0 0.0 -0.4 2.1 1.7
Profit before tax 105.4 120.9 119.8 217.1 508.4 605.7
Income tax -21.8 -25.6 -24.3 -46.0 -69.3 -91.1
Profit for the period 83.6 95.3 95.5 171.0 439.1 514.6
3 Months 9 Months 12 Months
Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
MSEK - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
83.6 95.3 95.5 171.0 439.1 514.6
0.0 -22.1 -99.1 -48.6 -198.3 -147.8
Total 0.0 -22.1 -99.1 -48.6 -198.3 -147.8
0.0 -22.1 -99.1 -48.6 -198.3 -147.8
83.6 73.1 -3.6 122.5 240.7 366.8
Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
- Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Depreciations for the period 50.8 49.5 151.2 145.8 200.8 195.3
12 Months
Total comprehensive income
Parent Company Comprehensive Income Statement
Items that later can not be reversed back to the 
Consolidated income statement:
Note 1 Depreciations 3 Months 9 Months
Change in fair value of financial assets
Other comprehensive income, net of tax
3 Months 9 Months 12 Months
Profit for the period
Other comprehensive income, net of tax:

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  18  
 
 
 
Accounting policies 
Compliance with regulation and reporting standards 
Clas Ohlson applies the International Financial Reporting Standards (IFRS) and interpretations from the IFRS Interpretation 
Committee (IFRIC) adopted by the EU. This interim report has been prepared in accordance with the Swedish Annual 
Accounts Act, IAS 34 Interim Financial Reporting and RFR 1 Supplementary Accounting Rules for Groups. Disclosures in 
accordance with IAS 34 Interim Financial Reporting are provided in the notes and elsewhere in this interim report.  
Basis for reporting 
The Parent Company’s financial statements have been prepared in accordance with the Swedish Annual Accounts Act and 
the Swedish Financial Reporting Board’s Recommendation RFR 2. The same accounting policies are applied as for the 
Group, except in those cases described under the section headed “Parent Company accounting policies” in the 2021/22 
Annual Report on page 92.  
 
For the consolidated financial statements, the same accounting policies and calculation methods as in the latest annual 
report are applied. No new or revised IFRS and interpretations applied from 1 May 2022 have had any discernible effect on 
the consolidated financial statements.  
 
For a more detailed description of the accounting policies applied to the Group and Parent Company in this interim report, 
refer to the 2021/22 Annual Report, pages 87-92. 
 
 
 
 
 
 
  
Parent Company Balance Sheet
31 Jan 31 Jan 30 Apr
MSEK 2023 2022 2022
Assets
Intangible assets 333.2 497.7 484.2
Tangible assets 497.4 543.4 528.8
Financial assets 109.0 309.4 210.2
Inventories 1,581.1 1,424.1 1,636.6
Other receivables 161.7 143.5 234.0
Cash and cash equivalents 17.0 893.5 375.8
Total assets 2,699.6 3,811.6 3,469.7
Equity and liabilities
Equity 378.2 961.8 1,203.9
Untaxed reserves 980.6 982.7 980.6
Provisions 80.4 67.4 62.0
Current liabilities, interest bearing 11.8 0.0 0.0
Current liabilities, non-interest bearing 1,248.5 1,799.7 1,223.2
Total equity and liabilities 2,699.6 3,811.6 3,469.7

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  19  
 
Alternative performance measures 
This section contains a reconciliation of certain alternative performance measures (APMs) with the closest reconcilable 
items in the financial statements. As analysis tools, APMs are limited, and must be considered in their context and not as a 
replacement of financial measures prepared in accordance with IFRS. APMs are presented to improve an investor’s 
evaluation of the operations, as an aid in forecasts of forthcoming periods, and to simplify meaningful comparisons of 
earnings between periods. Management uses these APMs, for example, to evaluate the operating activities compared with 
previous results, for internal planning and forecasts and to calculate certain performance-related remuneration. For 
definitions, refer to page 22. The APMs recognised in this quarterly report may differ from similarly named measures used by 
other companies.  
 
 
 
 
 
 
 
 
 
 
 
 
 
Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
Return on equity - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Net profit for the period, MSEK – – – – 188.0 522.5
Average equity, MSEK – – – – 1,902.6 2,238.6
Return on equity – – – – 9.9% 23.3%
3 Months 9 Months 12 Months
Reason for use: Return on equity is a measure of profitability in relation to the book value of equity. Retun on equity is also a measure of how investments are used to generate increased income.
Return on capital employed
Operating profit, MSEK – – – – 301.7 719.4
Interest income, MSEK – – – – 3.9 2.0
Average capital employed, MSEK – – – – 3,716.5 4,142.4
Return on capital employed – – – – 8.2% 17.4%
Reason for use: Return on capital employed is a measure of profitability after taking into account the amount of capital used. A higher return on capital employed indicates that capital is used 
more efficiently.
Gross margin
Gross profit, MSEK 1,128.4 1,174.0 2,695.0 2,897.7 3,402.1 3,604.8
Sales, MSEK 2,954.2 2,831.3 7,248.0 7,003.6 9,028.0 8,783.7
Gross margin 38.2% 41.5% 37.2% 41.4% 37.7% 41.0%
Reason for use: Gross margin shows the difference between net sales and the cost of goods sold expressed as a percentage of net sales. Gross margin is affected by several factors, for 
example, product mix, price trend and cost reductions.
Gross profit, MSEK
Sales 2,954.2 2,831.3 7,248.0 7,003.6 9,028.0 8,783.7
Cost of goods sold -1,825.8 -1,657.2 -4,553.0 -4,105.9 -5,626.0 -5,178.9
Gross profit 1,128.4 1,174.0 2,695.0 2,897.7 3,402.1 3,604.8
Reason for use: Gross profit shows the difference between net sales and the cost of goods sold. Gross profit is affected by several factors, for example, product mix, price trend and cost 
reductions.
Equity per share, SEK
Total equity, MSEK 1,502.5 2,335.0 1,502.5 2,335.0 1,502.5 2,221.6
Number of shares at end of period (millions of share) 63.36 63.35 63.36 63.35 63.36 63.35
Equity per share 23.71 36.86 23.71 36.86 23.71 35.07
Reason for use : Equity per share measures the company´s net value per share and determines whether a company increases its shareholders capital over time.
EBITDA, MSEK
Operating profit 215.2 377.9 311.5 729.2 301.7 719.4
Depreciation 194.1 191.0 589.4 564.7 777.8 753.1
EBITDA 409.4 568.9 900.9 1,294.0 1,079.5 1,472.6
Reason for use: Measures the financial performance before depreciation, interest and tax.

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  20  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
EBITDA excl IFRS 16, MSEK - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Operating profit excl IFRS 16 198.4 359.4 254.9 672.0 224.7 641.9
Depreciation  excl IFRS 16 64.2 63.4 192.5 187.4 256.4 251.2
EBITDA excl IFRS 16 262.6 422.9 447.4 859.4 481.1 893.1
Reason for use: Measures the financial performance before depreciation, interest and tax.
3 Months 9 Months 12 Months
Sales growth, MSEK
Sales actual period 2,954.2 2,831.3 7,248.0 7,003.6 9,028.0 8,783.7
Sales  previous period 2,831.3 2,635.3 7,003.6 6,745.9 8,542.1 8,284.4
Sales growth 4.3% 7.4% 3.5% 3.8% 5.7% 6.0%
Reason for use : The change in sales reflects the company´s realised sales growth over time.
Average inventory value, MSEK
Average inventory value – – – – 2,394.1 1,985.9
Reason for use: Shows average inventory value over the past 12 months. 
Cash flow from operating activities per share, SEK
Cash flow from operating activities, MSEK 1,148.1 634.4 946.8 1,301.4 628.8 986.1
Number of shares before the dilution (millions of share) 63.36 63.35 63.36 63.35 63.36 63.35
Cash flow from operating activities per share 18.12 10.01 14.94 20.54 9.93 15.57
Reason for use: Cash flow from operating activities per share measures the cash flow that the company generates per share before capital investments and cash flows attributable to the 
company’s financing .
Net debt, MSEK
Interest bearing liabilities – – - - 1,707.6 1,789.7
Cash and cash equivalents – – - - 81.4 456.6
Total Net debt – – - - 1,626.1 1,333.1
Reason for use: Net debt shows the company's indebtedness over time.
Net debt excl IFRS 16, MSEK
Interest bearing liabilities excl lease liabilities – – - - 11.8 0.0
Cash and cash equivalents – – - - 81.4 456.6
Total Net debt excl IFRS 16 – – - - -69.7 -456.6
Reason for use: Net debt shows the company's indebtedness over time.
Profit after financial items excl IFRS 16, MSEK
Profit after financial items 199.9 362.0 264.8 680.9 240.3 656.4
IFRS 16 effect -2.6 -2.9 -13.3 -10.4 -18.7 -15.8
Profit after financial items excl IFRS 16 197.3 359.1 251.5 670.6 221.6 640.6
Reason for use: To create comparability in analyses where years prior to IFRS 16 are included. 
Profit for the period, excl IFRS 16, MSEK
Profit for the period 158.3 286.7 203.7 538.1 188.0 522.5
IFRS 16 effect -2.0 -2.9 -10.5 -8.8 -14.8 -13.3
Profit for the period excl IFRS 16 156.3 283.8 193.1 529.3 173.2 509.2
Reason for use: To create comparability in analyses where years prior to IFRS 16 are included. 
Working capital, MSEK
Total current assets 2,363.3 3,049.7 2,363.3 3,049.7 2,363.3 2,793.0
-Cash and cash equivalents -81.4 -948.9 -81.4 -948.9 -81.4 -456.6
-Current non-interest bearing liabilities -1,726.6 -1,985.0 -1,726.6 -1,985.0 -1,726.6 -1,728.1
Working capital 555.2 115.8 555.2 115.8 555.2 608.3
Reason for use : Working capital is used to measure the company ’s ability to meet short-term capital requirements .
Operating margin
Operating profit, MSEK 215.2 377.9 311.5 729.2 301.7 719.4
Sales, MSEK 2,954.2 2,831.3 7,248.0 7,003.6 9,028.0 8,783.7
Operating margin 7.3% 13.3% 4.3% 10.4% 3.3% 8.2%
Reason for use: The operating margin shows operating profit as a percentage of net sales and shows operational profitability.

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

FINANCIAL STATEMENTS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  21  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nov 2022 Nov 2021 May 2022 May 2021 Feb 2022 May 2021
Operating profit excl IFRS 16 - Jan 2023 - Jan 2022 - Jan 2023 - Jan 2022 - Jan 2023 - Apr 2022
Operating profit, MSEK 215.2 377.9 311.5 729.2 301.7 719.4
IFRS 16-effect -16.8 -18.5 -56.6 -57.2 -77.0 -77.5
Operating profit excl IFRS 16 198.4 359.4 254.9 672.0 224.7 641.9
Reason for use: To create comparability in analyses where years prior to IFRS 16 are included. 
3 Months 9 Months 12 Months
Equity/assets ratio
Total equity, MSEK 1,502.5 2,335.0 1,502.5 2,335.0 1,502.5 2,221.6
Total assets, MSEK 5,138.6 6,460.0 5,138.6 6,460.0 5,138.6 5,948.6
Equity/Assets ratio 29.2% 36.1% 29.2% 36.1% 29.2% 37.3%
Reason for use: A high equity/assets ratio provides the financial scope and independence required for conducting the operations and managing variations in the need for working capital and for 
capitalising on business opportunities.
Equity/assets ratio excl IFRS 16
Total equity excl IFRS 16, MSEK 1,617.4 2,462.2 1,617.4 2,462.2 1,617.4 2,344.2
Total assets excl IFRS 16, MSEK 3,557.7 4,663.5 3,557.7 4,663.5 3,557.7 4,281.5
Equity/assets ratio excl IFRS 16 45.5% 52.8% 45.5% 52.8% 45.5% 54.8%
Reason for use: A high equity/assets ratio provides the financial scope and independence required for conducting the operations and managing variations in the need for working capital and for 
capitalising on business opportunities.
Capital employed, MSEK
Total assets 5,138.6 6,460.0 5,138.6 6,460.0 5,138.6 5,948.6
Long-term non-interest bearing liabilities -201.9 -216.2 -201.9 -216.2 -201.9 -209.2
Current non-interest bearing liabilities -1,726.6 -1,985.0 -1,726.6 -1,985.0 -1,726.6 -1,728.1
Capital employed 3,210.0 4,258.7 3,210.0 4,258.7 3,210.0 4,011.2
Reason for use : Capital employed measures the company ’s ability, in addition to cash balances and cash equivalents , to meet the needs of the operations .
Comprehensive income per share, SEK
Comprehensive income for the period, MSEK 142.6 308.7 102.9 537.9 -9.8 425.3
Average number of shares before dilution (millions of share) 63.36 63.35 63.36 63.35 63.36 63.35
Comprehensive income per share 2.25 4.87 1.62 8.49 -0.15 6.71
Reason for use: Measures the comprehensive income in relation to average number of shares before dilution. 
Earnings per share (before and after dilution), SEK*
Net profit for the period, MSEK 158.3 286.7 203.7 538.1 188.0 522.5
Number of shares before dilution (millions of share) 63.36 63.35 63.36 63.35 63.36 63.35
Number of shares after dilution (millions of share) 63.36 63.36 63.36 63.36 63.36 63.36
Number of shares before dilution 2.50 4.53 3.21 8.49 2.97 8.25
Number of shares after dilution 2.50 4.52 3.21 8.49 2.97 8.25
*Defined in accordance with IFRS

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

KEY RATIO DEFINITIONS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  22  
 
Key ratio definitions 
Clas Ohlson uses certain financial measures in this interim report that are not defined in accordance with IFRS. Clas Ohlson 
believes that these key ratios are relevant to users of the financial report as a supplement for assessing Clas Ohlson’s 
performance. These financial measures are not always comparable with the measures used by other companies since not all 
companies calculate such financial measures in the same way. Accordingly, these financial measures are not to be regarded 
as a replacement for measures defined according to IFRS. The measures not defined according to IFRS are presented 
below, unless otherwise stated. 
 
Return on equity 
Net profit for the period expressed as a percentage of average 
equity. Average equity is calculated as the total equity for the most 
recent 12 months divided by 12.  
Return on capital employed  
Operating profit plus financial income expressed as a percentage 
of average capital employed. Average capital employed is 
calculated as the total capital employed for the most recent 12 
months divided by 12.  
Gross margin  
Gross profit divided by sales for the period. 
Gross profit  
Gross profit is calculated as the total of sales less cost of goods 
sold. 
Dividend yield 
Dividend per share divided by the year-end share price. 
EBITDA  
Operating profit/loss before interest, tax, depreciation and 
amortisation. 
EBITDA excl IFRS 16  
Operating profit/loss before interest, tax, impairment, depreciation 
and amortisation excl effect on operating expenses according to 
IFRS 16.  
Equity per share  
Equity divided by the number of shares outstanding at the end of 
the period. 
Share of selling expenses, %  
Selling expenses in relation to sales. 
Sales growth  
Sales in relation to sales during the year-earlier period. 
Average inventory value  
Average inventory value is calculated as the total inventories for 
the most recent 12 months divided by 12. 
Cash flow from operating activities  
Operating profit adjusted for items not included in cash flow, 
interest, paid tax and change in working capital. 
Cash flow from operating activities per share  
Cash flow from operating activities divided by the average number 
of shares before dilution.  
Net debt  
Interest-bearing liabilities less cash and cash equivalents.  
Net debt excl IFRS 16  
Interest-bearing liabilities excl interest-bearing lease liabilities less 
cash and cash equivalents. 
Net debt/EBITDA  
Net debt divided by EBITDA for the last 12 months. 
Organic growth  
Sales growth in local currencies, excluding acquisitions. 
P/E ratio  
Share price at year-end divided by earnings per share before 
dilution. 
Profit after financial items excl IFRS 16  
Profit after financial items excluding the effects attributable to IFRS 
16.  
Profit after tax excl IFRS 16  
Profit after tax excluding the effects attributable to IFRS 16.  
Working capital  
The total of current assets, minus cash and cash equivalents 
(inventories and current receivables), less current non-interest 
bearing liabilities.  
Operating margin  
Operating profit divided by sales for the period. 
Operating profit  
Operating profit comprises profit before financial items and tax. 
Operating profit excl IFRS 16  
Operating profit comprises profit before financial items and tax 
excl effects on operating expenses according to IFRS 16.  
Equity/assets ratio  
Equity at the end of the period divided by the balance-sheet total 
(total assets).

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

KEY RATIO DEFINITIONS  
CLAS OHLSON NINE - MONTH REPORT 2022/23  23  
 
Equity/assets ratio excl IFRS 16  
Equity at the end of the period divided by the balance-sheet total 
(total assets) excl effects relating to equity and interest-bearing 
lease assets according to IFRS 16.  
Capital employed  
Balance-sheet total (total assets) less current liabilities and non-
current liabilities, non-interest-bearing liabilities. 
Comprehensive income per share  
Comprehensive income divided by average number of shares 
before dilution. 
Payout ratio  
Dividend divided by earnings per share before dilution. 
Earnings per share (before and after dilution)*  
Profit for the period divided by the number of shares (before and 
after dilution). 
 
*Defined in accordance with IFRS.

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

GLOSSARY  
CLAS OHLSON NINE - MONTH REPORT 2022/23  24  
 
Glossary 
Clas Office  
Our concept that facilitates purchases for our corporate 
customers. 
Club Clas  
Our loyalty programme, our loyalty club. 
 
Online sales  
Sales whereby the customers shops via digital channels from Clas 
Ohlson or external partners. 
Sales per square metre  
Store sales in relation to the effective retail space. For new stores, 
a conversion has been made in relation to how long the store has 
been open. 
GRI 
The Global Reporting Initiative, a global standard for sustainability 
reporting. 
Conversion rate  
The percentage of visitors who make a purchase. 
Cost of goods sold  
Cost for purchases of goods and transport costs, customs and 
handling costs until the goods are displayed in a store or delivered 
to the customer.
 
Omni-channel  
A shopping experience where customers perceive a seamless 
interaction between physical stores, the online store and 
telephone sales. 
Products for a more sustainable lifestyle  
Products with a positive, or significantly lower, environmental 
impact throughout their life cycle than a standard product.  
Average receipt  
Average amount per purchase. 
Store traffic  
Number of visitors. 
Code of Conduct  
The standards we set for ourselves, and the suppliers of our 
products and services, regarding working conditions, workplace 
health and safety and the environment.

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

STORE OVERVIEW  
CLAS OHLSON NINE - MONTH REPORT 2022/23  25  
 
Store overview  
Update on store network  
Clas Ohlson’s ongoing review of the store network takes into consideration the market conditions, new customer behaviour 
patterns, demand projections and contracts signed with property owners. Geographic location, testing new store concepts 
and store sizes are continuously evaluated. On the reporting date, the number of contracted forthcoming store openings 
was zero, and the total number of stores was 222 (229).
 Stores closed 
• Sweden, Stockholm – Sveavägen, closed 27 January 2023 
• Sweden, Uddevalla – City Gallerian, closed 3 March 2023 
• Sweden, Gothenburg – Backaplan, closed 3 March 2023 
Events after the end of the reporting date 
• Sweden, Kalmar – Baronen, scheduled to close summer 2023  
 
For more information, refer to the detailed list on the website about.clasohlson.com/en/about-us/stores-markets-sales-channels/our-
stores/ 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SWEDEN 
 1,300 MSEK 
 95 
  
NORWAY 
 1,318 MSEK 
 92 
  
FINLAND 
 336 MSEK 
 37 
  
 
  
  
 
  
  
  
 Sales Q3 2022/23 
 
Stores per 31 January 2023 
Total: 224 
  
 
About 40% of our purchases are 
made directly via in-house 
purchasers. 
CHINA 
VIETNAM 
POLAND

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

THE SHARE  
CLAS OHLSON NINE - MONTH REPORT 2022/23  26  
 
The share 
Clas Ohlson Series B shares have been listed on Nasdaq Stockholm since 1999 and 
are included in the Consumer Services sector index. At 31 January 2023, the share 
price was SEK 69.60 and the total market capitalisation amounted to 4,410 MSEK.  
Number of shares 
The number of registered shares totalled 65,600,000 (5,760,000 Series A shares 
and 59,840,000 Series B shares), unchanged from the preceding year. On 31 
January 2023, the company held 2,243,435 shares (2,248,667), corresponding to 
3.4 per cent of the total number of registered shares. At the end of the period, the 
number of shares outstanding, net after buy-back, was 63,356,565 (63,351,333). 
 
Dividend policy 
Clas Ohlson’s dividend policy is that the dividend is to comprise at least 50 per cent of earnings 
per share after tax, taking into account the company’s financial position.  
 
The AGM on 9 September 2022 approved the proposed dividend of 13 SEK per share, of 
which 6.75 SEK per share pertains to an ordinary dividend and 6.25 SEK per share 
pertains to an extraordinary dividend. The dividend was paid out in two separate 
payments of 6.50 SEK per share each. The record date for the first payment was set as 
16 September 2022 and the second payment as 17 January 2023.  
 
 
 
 
Owner CLAS A CLAS B Capital Votes
Haid family 3,023,880 12,029,103 23.0% 36.0%
Tidstrand family 2,736,120 7,079,828 15.0% 29.3%
Nordea Fonder 5,283,178 8.1% 4.5%
If Skadeförsäkring AB 2,427,530 3.7% 2.1%
Vanguard 1,334,768 2.0% 1.1%
Norges Bank 957,145 1.5% 0.8%
Dimensional Fund Advisors 870,275 1.3% 0.7%
Avanza Pension 860,669 1.3% 0.7%
Fidelity International (FIL) 728,173 1.1% 0.6%
SHB Fonder & Liv 690,917 1.1% 0.6%
Acadian Asset Management 647,082 1.0% 0.6%
BlackRock 595,451 0.9% 0.5%
SEB Fonder & Liv 389,494 0.6% 0.3%
American Century Investment 
Management
351,426 0.5% 0.3%
WisdomTree Asset Management 323,348 0.5% 0.3%
Total top 15 5,760,000 34,568,387 61.5% 78.5%
Other shareholders 25,271,613 38.5% 21.5%
Total 5,760,000 59,840,000 100.0% 100.0%
Shares owned by Clas Ohlson 2,243,435 3.4% 1.9%
The largest shareholders per 31 January 2023
Share data 
Listing Nasdaq Stockholm 
Mid Cap 
Ticker Clas B 
Industry Consumer Services 
ISIN code SE0000584948 
  
Earnings per share, SEK 
 
 
Dividend per share, SEK 
 
 
-2.00
-1.00
0. 00
1. 00
2. 00
3. 00
4. 00
5. 00
Q1 Q2 Q3 Q4
2021/22 2022/23
0. 00
1. 00
2. 00
3. 00
4. 00
5. 00
6. 00
7. 00
*Ordinary  dividend
**Extra dividend

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

CLAS OHLSON IN BRIEF  
CLAS OHLSON NINE - MONTH REPORT 2022/23  27  
 
Clas Ohlson in brief 
Our mission is to help and inspire people to improve their 
everyday lives by offering smart, simple, practical 
solutions at attractive prices. 
Clas Ohlson was founded in 1918 as a mail order business based in Insjön, Dalarna, 
Sweden. Today, we are a retail company with customers in three markets, approximately 
5,000 employees, and sales of approximately 8.8 billion SEK. Our share is listed on 
Nasdaq Stockholm.  
 
We will grow in the Nordic market, focusing on simplifying people’s everyday lives at home 
through a combination of products, guidance and supplementary services. A developed 
online business model, unique offering, world-class service and simplified, streamlined 
operations are critical parts of our growth strategy. Leveraging the strength of our large, 
loyal customer base, we will play a greater and more important role in every home. 
 
Read more about us and our passion about simplifying life in every home at 
about.clasohlson.com. 
 
Operations 
 
Clas Ohlson works to help and inspire 
people to improve their everyday lives by 
offering smart, simple, practical solutions 
at attractive prices. Our customer offering 
comprises a base of hardware, electrical, 
multimedia, home and leisure products as 
well as a supplementary offering of 
services that simplify customers’ daily lives 
at home.  Operations are conducted via 
stores and online shopping in Sweden, 
Norway and Finland. 
 
 
www.clasohlson.com 
Clas Ohlson AB | SE-793 85 Insjön, Sweden | Telephone +46 (0)247 444 00 | Corp. Reg. No. 556035 -8672