{"id":862,"date":"2022-08-23T05:50:00","date_gmt":"2022-08-23T05:50:00","guid":{"rendered":"https:\/\/cheffelo.com\/mfn_news\/ebit-profitability-in-q2-despite-tough-macro-environment\/"},"modified":"2024-08-12T12:59:55","modified_gmt":"2024-08-12T12:59:55","slug":"ebit-profitability-in-q2-despite-tough-macro-environment","status":"publish","type":"mfn_news","link":"https:\/\/cheffelo.com\/en\/mfn_news\/ebit-profitability-in-q2-despite-tough-macro-environment\/","title":{"rendered":"EBIT profitability in Q2 despite tough macro environment"},"content":{"rendered":"<div class=\"mfn-preamble\">\n<p class=\"mfn-wp-retain\"><strong>LMK Group, a leading supplier of meal kits in the Scandinavian region and a leader in Scandinavian foodtech, today announced its financial results for the second quarter 2022. The Group operates in Sweden, Norway and Denmark under the brands Linas Matkasse, Godtlevert, Adams Matkasse and RetNemt.<\/strong><\/p>\n<\/div>\n<div class=\"mfn-body\">\n<p class=\"mfn-wp-retain\">CEO Walker Kinman commented: &ldquo;Accelerating inflation and declines in consumer sentiment on recessionary fears, combined with changes in customer behavior as the economy continues to emerge from the Covid pandemic, continued to affect demand for the category negatively during the second quarter. Still, we managed to reach EBIT profitability in the quarter and our company retains a healthy cash position while being unencumbered with structured debt. We continue to focus on a superior consumer experience through the development of our offering and our business fundamentals, while adjusting our operating model to adapt to the current macro environment realities.&rdquo;<\/p>\n<p><strong>Second quarter 2022 (Q2 2021)<\/strong>&nbsp;<\/p>\n<ul>\n<li>Net sales decreased by 29.8% to 267.6 MSEK (381.0 MSEK same period last year). Adjusted for exchange rate differences that equals a decline of 31.6%&nbsp;<\/li>\n<li>Contribution margin after fulfillment cost was 24.5% (30.0%)&nbsp;<\/li>\n<li>EBITDA amounted to 17.3 MSEK (46.5). EBITDA-margin at 6.5% (12.2%)&nbsp;<\/li>\n<li>Adjusted EBITDA amounted to 19.8 MSEK (46.5). Adjusted EBITDA-margin at 7.4% (12.2%)&nbsp;<\/li>\n<li>Operating profit (EBIT) at 3.8 MSEK (35.3), a margin of 1.4% (9.3%)&nbsp;<\/li>\n<li>Adjusted EBIT at 6.3 MSEK (35.3), a margin of 2.4% (9.3%)&nbsp;<\/li>\n<li>Net loss for the period after taxes at -0.6 MSEK (15.1)&nbsp;<\/li>\n<li>Earnings per share SEK, before and after dilution at&nbsp;-0.05 SEK (2.92)&nbsp;<\/li>\n<\/ul>\n<p class=\"mfn-wp-retain\"><strong>First half 2022 (H1 2021)<\/strong>&nbsp;<\/p>\n<ul>\n<li>Net sales decreased by 22.5% to 620.5 MSEK (800.5 MSEK same period last year). Adjusted for exchange rate differences that equals a decline of 24.9%&nbsp;<\/li>\n<li>Contribution margin after fulfillment cost was 24.4% (29.4%)&nbsp;<\/li>\n<li>EBITDA amounted to 10.8 MSEK (73.8). EBITDA-margin at 1.7% (9.2%).&nbsp;<\/li>\n<li>Adjusted EBITDA amounted to 15.7 MSEK (86.8), Adjusted EBITDA-margin of 2.5% (10.8%)&nbsp;<\/li>\n<li>Operating profit (EBIT) at -15.9 MSEK (51.7), a margin of -2.6% (6.5%).&nbsp;<\/li>\n<li>Adjusted EBIT at -11.1 MSEK (64.7) gives a margin of -1.8% (8.1%)&nbsp;<\/li>\n<li>Net loss for the period after taxes at -19.5 MSEK (21.6)&nbsp;<\/li>\n<li>Earnings per share SEK, before and after dilution at -1.71 SEK (1.24)&nbsp;<\/li>\n<\/ul>\n<p class=\"mfn-wp-retain\">Please see LMK Group Q2 report attached and here: &nbsp;<a href=\"https:\/\/lmkgroup.se\/investors\/financial-reports\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/lmkgroup.se\/investors\/financial-reports\/<\/a><\/p>\n<p class=\"mfn-wp-retain\"><strong>Presentation of the report<\/strong><br \/>Walker Kinman, CEO and Erik Bergman, CFO, will present the report at a conference call and webcast August 23, 09:00 CET. <\/p>\n<p class=\"mfn-wp-retain\"><strong>Webcast<\/strong><br \/><a href=\"https:\/\/tv.streamfabriken.com\/lmk-group-q2-2022\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/tv.streamfabriken.com\/lmk-group-q2-2022<\/a><\/p>\n<p class=\"mfn-wp-retain\"><strong>Phone number<\/strong><strong><br \/><\/strong>To participate via telephone please dial-in on one of the numbers below and enter PIN: 3603551#<\/p>\n<p class=\"mfn-wp-retain\">US \/ International: +1 412 317 6300<br \/>SE: +46 8 505 163 86<br \/>UK: +44 20 319 84884<br \/>DK: +45 327 259 57<br \/>NO:+47 219 549 36<\/p>\n<p class=\"mfn-wp-retain\">After the presentation a recording of the webcast will be available on the webcast link.<\/p>\n<\/div>\n<div class=\"mfn-footer mfn-8e81e773bcf7\">\n<p class=\"mfn-wp-retain\"><strong class=\"mfn-heading-1\">For further information, please contact:<\/strong><\/p>\n<hr>\n<p class=\"mfn-wp-retain\">Peter Bodor, Head of Communications, LMK Group<br \/>Telephone (SWE): +46 706 48 70 65<br \/>E-mail: peter.bodor@linasmatkasse.se<\/p>\n<p>Walker Kinman, CEO, LMK Group<br \/>Telephone (SWE): +46&nbsp;707 22 65 13<br \/>E-mail: <a target=\"_blank\" href=\"mailto:walker.kinman@linasmatkasse.se\" rel=\"nofollow noopener\">walker.kinman@linasmatkasse.se<\/a><br \/>&nbsp;<br \/>Erik Bergman, CFO, LMK Group<br \/>Telephone (SWE): +46&nbsp;707 74 49 73<br \/>E-mail: <a href=\"mailto:erik.bergman@linasmatkasse.se\" target=\"_blank\" rel=\"nofollow noopener\">erik.bergman@linasmatkasse.se<\/a><\/p>\n<\/div>\n<div class=\"mfn-footer mfn-about mfn-9fb8f4a0fce1\">\n<p class=\"mfn-wp-retain\"><strong class=\"mfn-heading-1\">About LMK Group<\/strong><\/p>\n<hr>\n<p class=\"mfn-wp-retain\">LMK Group was founded in 2008 with the vision of simplifying everyday life by offering a large variety of inspiring meals delivered directly to the customer&#8217;s front door. Today, the group is the largest supplier of meal kits in the Nordic region and&nbsp;a leader in Scandinavian foodtech. The group operates in Sweden, Norway and Denmark under the brands Linas Matkasse, Godtlevert, Adams Matkasse and RetNemt. In 2021, the Group generated SEK 1.39 billion in revenue and delivered approximately 23.2 million meals to its customers.&nbsp;LMK Group is&nbsp;listed&nbsp;on Nasdaq First North Premier Growth Market.&nbsp;Certified Adviser is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399.<\/p>\n<\/div>\n<div class=\"mfn-footer mfn-regulatory mfn-regulatory-mar\">\n<p class=\"mfn-wp-retain\"><em>This information is information that LMK Group AB 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 2022-08-23 07:50 CEST.<\/em><\/p>\n<\/div>\n<div class=\"mfn-footer mfn-attachment mfn-attachment-general\">\n<p class=\"mfn-wp-retain\"><strong class=\"mfn-heading-1\">Attachments<\/strong><\/p>\n<hr>\n<p class=\"mfn-wp-retain\"><a class=\"mfn-primary\" href=\"https:\/\/storage.mfn.se\/e6fcea25-07a1-48db-a8b6-fb50af3dba94\/q2-2022-lmk-group-eng-v-final.pdf\" target=\"_blank\" rel=\"nofollow noopener\">Q2 2022 LMK Group ENG V Final<\/a><\/p>\n<\/div>\n<script>\n                Array.prototype.slice.call(document.querySelectorAll(\".mfn-footer.mfn-attachment\")).forEach(function (el) { el.remove() });\n            <\/script>\n        <div class=\"mfn-attachments-container\"><div class=\"mfn-attachment mfn-primary\"><a class=\"mfn-attachment-link\" href=\"https:\/\/storage.mfn.se\/e6fcea25-07a1-48db-a8b6-fb50af3dba94\/q2-2022-lmk-group-eng-v-final.pdf\"><span class=\"mfn-attachment-icon\"><img decoding=\"async\" src=\"https:\/\/storage.mfn.se\/e6fcea25-07a1-48db-a8b6-fb50af3dba94\/q2-2022-lmk-group-eng-v-final.pdf?type=jpg\"><\/span>Q2 2022 LMK Group ENG V Final<\/a><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>LMK Group, a leading supplier of meal kits in the Scandinavian region and a leader in Scandinavian foodtech, today announced its financial results for the second quarter 2022. The Group&#8230;<\/p>\n","protected":false},"author":3,"template":"","class_list":{"0":"post-862","1":"mfn_news","2":"type-mfn_news","3":"status-publish","5":"mfn-news-tag-mfn-lang-en","6":"mfn-news-tag-mfn-report-interim","7":"mfn-news-tag-mfn-type-ir","8":"mfn-news-tag-mfn-regulatory-mar","9":"mfn-news-tag-mfn-cus-disclaimer","10":"mfn-news-tag-mfn","11":"mfn-news-tag-mfn-report-interim-q2","12":"mfn-news-tag-mfn-regulatory","13":"mfn-news-tag-mfn-report"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EBIT profitability in Q2 despite tough macro environment - Cheffelo<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cheffelo.com\/en\/mfn_news\/ebit-profitability-in-q2-despite-tough-macro-environment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBIT profitability in Q2 despite tough macro environment - Cheffelo\" \/>\n<meta property=\"og:description\" content=\"LMK Group, a leading supplier of meal kits in the Scandinavian region and a leader in Scandinavian foodtech, today announced its financial results for the second quarter 2022. 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