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Boozt AB Annual Report 2020

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Boozt AB Annual Report 2020 BOOZT AB, ORG. 556793-5183 LEADING CUSTOMER SATISFACTION A Nordic technology company selling fashion, kids, home, sport and beauty online. We offer our customers a curated and Boozt Fulfillment Centre contemporary selection of brands, Our central and automated warehouse located in Ängelholm relevant to a variety of lifestyles through our multi-brand webstores Boozt.com Boozt Headquarter Our headquarter located in Malmö and Booztlet.com. THE BOOZT SNAPSHOT OUR MISSION • Boozt.com launched 2011 is to deliver an outstanding online fashion shopping experience • Booztlet.com launched in 2015 with unrivaled customer service • Head office in Malmö, Sweden • Boozt AB is listed on Nasdaq Stockholm OUR VISION & Nasdaq Copenhagen is to become the leading player • 2 online shops, Boozt.com and Booztlet.com in Nordic fashion e-commerce • SEK 4.4 billion turnover in 2020 436 34 33 FULL TIME AVERAGE AGE NUMBER OF EMPLOYEES NATIONALITIES TABLE OF CONTENTS Investment case ................................................................................................................................ 4 2020 highlights .................................................................................................................................. 6 KPI highlights ...................................................................................................................................... 9 Letter to shareholders ................................................................................................................... 10 STORY OF BOOZT ...........................................................................................................................15 What we do ........................................................................................................................................ 16 The Market ........................................................................................................................................ 23 Growth Strategy ............................................................................................................................. 26 Business Performance ....................................................................................................................31 SUSTAINABILITY REPORT ...................................................................................................... 36 Letter from CEO Hermann ........................................................................................................... 37 Our role in the supply chain ....................................................................................................... 38 Our value chain ................................................................................................................................ 42 Our vision & strategy .................................................................................................................... 46 Our House ........................................................................................................................................ 50 Our People ....................................................................................................................................... 60 Our Partners ..................................................................................................................................... 66 Our Selection .................................................................................................................................... 70 Auditor's report on the sustainability report ......................................................................... 76 CORPORATE GOVERNANCE REPORT ............................................................................... 77 The board’s report on internal controls ................................................................................. 90 Board of Directors .......................................................................................................................... 93 Group Management ....................................................................................................................... 97 Auditor’s report on the corporate governance statement ............................................ 102 DIRECTORS' REPORT ................................................................................................................ 104 Proposed appropiation of profits .............................................................................................. 114 Risks and risk management ........................................................................................................ 116 CONSOLIDATED FINANCIAL STATEMENTS ................................................................. 122 Consolidated income statement ............................................................................................. 123 Consolidated statement of financial position ..................................................................... 124 Consolidated statement of changes in equity ................................................................... 125 Consolidated statement of cash flow .................................................................................... 126 Notes ................................................................................................................................................. 127 Parent company income statement ....................................................................................... 166 Parent company financial position .......................................................................................... 167 Parent company changes in equity ........................................................................................ 168 Parent company cash flow ......................................................................................................... 169 Parent company Notes ................................................................................................................. 170 Certification ..................................................................................................................................... 176 Signatures ........................................................................................................................................ 177 Auditor's report .............................................................................................................................. 178 ADDITIONAL INFORMATION ................................................................................................. 182 Definitions/glossary ....................................................................................................................... 183 Reconciliation of total operating income ............................................................................... 185 Reconciliation of adjusted EBIT ................................................................................................ 185 Reconciliation with financial statements according to IFRS ........................................... 186 UNIQUE POSITIONING OFFERS ATTRACTIVE GROWTH AND PROFITABILITY OPPORTUNITIES Key success factors in Nordic • Fully automated warehouse online fashion • Fast free deliveries • Fast free returns 1-2 days SPEED Next day PRICE Pay THE (right) price CUSTOM BUILT PLATFORM • Data driven • Best in class tech performance EASE Su pp rs l e ie rs m to / s V u e n C s E tic D d ly I/ o a A r n P s A I DATA • Seamless user experience across platforms B n i g o B i s t d c & a i a t M r Convenient delivery and return options s t g i • a e t g In o L BI • Customer care highly prioritized M a rk et CS ing Finance Tailor-made platform 4 Boozt AB / Annual Report 2020 Loyal Nordic customer base with attractive Premium features in a market with strong growth potential Commercial • Convenience is key • Fashion followers Entry price 25-54 Catch-all Curated target customer age 85% have a partner • Positioning delivers high AOV and combined with local scale a high profit per order... • Allowing for a high marketing spend to drive 55% have kids market leading growth... • While still showing a positive and increasing margin RELEVANCE Net revenue Booztlet.com Adjusted EBIT margin 700 127% 50% 600 Net revenue 40% 500 Adjusted EBIT margin Net revenue growth 133% 30% 400 300 116% 20% 200 60% 11.5% 10.8% 9.2% 13.7% 10% 100 10.4% 0% • Shopping prior season fashion from 2016 2017 2018 2019 2020 strong brands • Price-conscious and bargain hunting • Hyper growth from unique online position % % • Strong profit from solid gross margin, low marketing need and distribution income % % % % % High customer satisfaction Trustpilot Net Promoter Score 4.6 70 Boozt AB / Annual Report 2020 5 2020 HIGHLIGHTS 2020 HIGHLIGHTS EXPANDING INTO THE HOME CATEGORY Our launch into the home category is a significant step towards creating the true department store experience online and the ambition is to build the strongest Home offering in the Nordics with a focus on mid- to premium priced brands. Customers can shop from a confident selection of more than 250 Nordic Home & Interior brands on Boozt.com. CARE-FOR A RESPONSIBLE E-COMMERCE Our Care-For strategy is our roadmap to be- coming the leading responsible e-commerce company in the Nordics by 2025, using our business as a catalyst for change. Achieving this means setting actionable goals for the next five years that will keep us on track to reaching our vision, including
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