Oslo, 16 June 2020 – The spring and summer seasons have proved strong for the sports retail markets in the Nordics following the COVID-19 situation. XXL has seen solid growth across categories. Consequently, XXL now expects the total operating revenues for the Group in Q2 2020 to be in the range of NOK 2,750-2,850 million (NOK 2,187 million) representing a growth of 25-30 per cent. All Nordic markets experience strong growth leading to solid like-for-like growth. EBITDA-margin for the quarter is expected to be in the range of 12.5-13.5 per cent.
It should be noted that the actual operating revenues and EBITDA-margin in Q2 2020 may deviate from the above as the two last weeks of June are important sales weeks for the Group. XXL will present the actual second quarter 2020 figures on 16 July 2020.
For further queries, please contact:
Investor Relations
Tolle Grøterud
Email: tolle.g@xxl.no
Phone +47 90 27 29 59
Press contact Norway
Marte Ramuz Eriksen
E-mail: presse@xxl.no
Phone: +47 952 21 425
Press contact Sweden and International
Anders Andrén
E- mail: press@xxl.se
Phone: +46 76-133 99 40
About XXL ASA
XXL is a leading sports retailer with stores and e-commerce in Norway, Sweden, Finland, Denmark and Austria. It is the largest among the major sports retailers in the Nordics. XXL pursues a broad customer appeal, offering a one stop shop experience with a wide range of products for sports, hunting, skiing, biking and other outdoor activities. XXL's concept is to have the largest stores with the best prices and the widest assortment of products, focusing on branded goods.
Definitions
Alternative Performance Measures (APM)
Certain financial measures and ratios including growth, EBITDA, (collectively, the “Non-GAAP Measures”), are not specifically defined under IFRS or any other generally accepted accounting principles. These measures are presented in this statement because they are among the measures used by Management to evaluate the cash available to fund ongoing, long-term obligations and they are frequently used by other interested parties for valuation purposes or as a common measure of the ability of a company to incur and meet debt service obligations. These measures may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS or other generally accepted accounting principles, and you should not consider such items as alternatives to profit for the year, total operating revenues, operating income or any other performance measures derived in accordance with IFRS, and they may be different from similarly titled measures used by other companies.
EBITDA
Earnings before interest, tax, depreciation and amortisation (EBITDA) is a key financial parameter for XXL. EBITDA represents operating income plus depreciation.
EBITDA-margin
Is defined as EBITDA/total operating revenues
Like for Like
Like for Like include comparable stores and E-commerce. Comparable stores are stores that have been open all months of the current year and all months of the previous year. Stores that have been relocated or significantly expanded are excluded from Like for Like stores.