Cheffelo, a leading supplier of meal kits in the Nordic region and a leader in Scandinavian foodtech, today announced its financial results for the fourth quarter and full year 2023.
The company reported Q4 growth exceeding its expectations, as well as increased delivery volumes and further improvement in Contribution margins, which led to an increased EBIT for the quarter. While all markets posted growth in local currency, Denmark stood out with a 38% surge in delivery volumes and a 47% increase in Net sales during the quarter vs. last year. Strong operational performance allowed increased spending on an even better customer experience while increasing Contribution margins.
CEO Walker Kinman commented: “Our fourth quarter was the strongest for the year with many initiatives generating improvements across the business. The team has put in a tremendous effort to achieve all our strategic Must-Win Battles, not only leading to a return to growth but also setting the stage for our continued development.”
| Fourth quarter 2023 (Q4 2022) | Full year 2023 (Full year 2022) | ||
| · Net sales increased by 5.8% to MSEK 270.3 (MSEK 255.4 same period last year). Adjusted for exchange rate differences that equals a growth of 8.3% |
· Net sales decreased by 7.6% to MSEK 999.7 (1 081.4). Adjusted for exchange rate differences that equals a decline of 6.2% |
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| · Operating profit (EBIT) at MSEK 16.1 (-107.6), a margin of 6.0% (-42.1%) | · Operating profit (EBIT) at MSEK 30.7 (-149.3), a margin of 3.1% (-13.8% ). |
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| · Adjusted EBIT at MSEK 16.1 (12.4), a margin of 6.0% (4.9%) | · Adjusted EBIT at MSEK 30.7 (-24.5), a margin of 3.1% (-2.3%). | ||
| · Net profit for the period after taxes at MSEK 16.3 (-112.5) |
· Net profit for the period after taxes at MSEK 19.3 (-154.6) | ||
| · Earnings per share, before and after dilution at SEK 1.29 (-8.87) |
· Earnings per share, before and after dilution at SEK 1.52 (-12.19) | ||
Please see Cheffelo’s Q4 report attached and on https://cheffelo.com/financial-reports/
Cheffelo hosts a webcast for investors, analysts and media on February 22 at 09:00 CET. Details can be found here: https://cheffelo.com/press-releases/press/?slug=invitation-to-presentation-of-cheffelos-q4-and-year-end-report-2023
