Edition:
United Kingdom

XXL Q1 EBITDA (Adj. For IFRS 16) Up At NOK 55 Million


Wednesday, 24 Apr 2019 

April 24 (Reuters) - XXL ASA ::MAINTAINS LONG TERM OUTLOOK AND STRATEGIC AMBITIONS REMAINS FIRM..FIRST QUARTER 2019 RESULTS - SOLID GROSS MARGIN IMPROVEMENT.Q1 REVENUE NOK 2.01 BILLION VERSUS NOK 2.07 BILLION YEAR AGO.Q1 EBITDA OF NOK 55 MILLION (NOK 51 MILLION) ADJUSTED FOR IFRS 16 EFFECTS.GROSS MARGINS ARE SIGNIFICANTLY HIGHER IN ALL MARKETS AND INCREASED BY 2.8 PERCENTAGE POINTS FOR GROUP.TOTAL CAPEX FOR GROUP IN 2019 IS EXPECTED TO BE AROUND NOK 200 MILLION .TARGET IS GROUP OPEX% AS PERCENTAGE OF TOTAL OPERATING REVENUES TO GRADUALLY TREND DOWN TOWARDS 25 PER CENT IN A FIVE YEAR PERIOD.TARGET IS GROUP EBITDA-MARGIN STABLE AROUND 2017 LEVEL AS A RESULT OF LOWER GROSS MARGIN AND OPEX% OVER TIME.