Financial Targets


As the Group during 2020-2022 (3-5 years from IPO) is entering the medium term set out at the time of the listing of the Group in May 2017, the Board of Directors have adopted updated financial targets for the Group for the period up to and including 2022.

Net Revenue

The Group targets to outgrow the Nordic online market significantly to expand market share.

In line with previous years the Group plans to continue to grow significantly faster than the Nordic online market within apparel and beauty. The Nordic online market within apparel and beauty is currently estimated to grow around 10%.

Key drivers underpinning the net revenue growth target:

  • Continue to invest in leading customer satisfaction
  • Acquire new customers at a high pace without overpaying, focusing on the relationship between customer lifetime value (CLV) and customer acquisition costs (CAC)
  • High level of investment in Booztlet.com to fuel continued hyper growth

EBIT margin

The Group targets an adjusted EBIT margin exceeding 6% in 2022.

Key drivers underpinning the adjusted EBIT margin target in 2022:

  • Average order value (AOV) maintained around current level
  • Gross margin around 39-40% supported by contractual improvements and disciplined pricing
  • Fulfilment cost ratio is targeted to improve 1-2 percentage points driven by various ongoing and planned operational improvement initiatives within our fulfilment operations. This includes lower staff cost from 2021 as a consequence of an improved cost setup at the fulfilment centre following the termination of the contract with the current staff provider
  • Admin & Other cost ratio targeted to improve around 1%-point from scale effects, lower loss in Beauty by Boozt physical retail and new customs regulations in Norway
  • Marketing cost ratio targeted to improve around 1%-point from leverage on offline marketing spend

Dividend policy

When free cash flow exceeds available investments in profitable growth, the surplus will be distributed to shareholders.

The Company does not intend to pay dividends in the medium term and there can be no assurances that in any given year a dividend will be paid. Declaration of dividends, if any, and the amounts and timing thereof, will depend on a number of factors, including financial position, investment needs, acquisition opportunities, general economic and business conditions and such other factors as the board of directors may deem relevant in such decision.

Boozt’s financial targets set forth above are subject to considerable uncertainty. The financial targets are based upon a number of assumptions relating to among other things, the development of Boozt’s industry, business, results of operations and financial condition as well as the assumptions referred to above. Boozt’s business, results of operations and financial condition, and the development of the industry and macroeconomic environment in which Boozt operates, may differ materially from, and be more negative than, those assumed by Boozt when preparing the financial targets set out above. As a result, Boozt’s ability to reach these financial targets is subject to uncertainties and contingencies, some of which are beyond its control, and no assurances can be given that Boozt will be able to reach these targets or that Boozt’s financial condition or results of operations will not be materially different from these financial targets.

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