Boozt AB

04/16/2021 | News release | Distributed by Public on 04/16/2021 08:40

Boozt AB publishes the Annual Report for 2020.

Boozt AB publishes the Annual Report which includes the Corporate Governance Report and the Sustainability Report for 2020.

Hermann Haraldsson, Co-founder & CEO, says, '2020 was a very good year for us. We were not only one of the fastest-growing e-commerce companies in our industry but also one of the most profitable ones. We were good at turning a corona challenge into an opportunity and managed to both think and act fast throughout the year. The pressure on us in 2020 was externally caused. In 2021 the pressure will be self-inflicted. We have a lot of exciting things going on and we are as committed to our ambitious targets as ever before.'

2020 was a year with solid progress and strong growth as net revenue increased with 27.3% to SEK 4,359.3 million and adjusted EBIT margin increased above expectations at 6.7%. In 2020, Boozt accelerated its efforts towards becoming the true online department store in the Nordics, growing the active customer base on Boozt and Booztlet by 27% to more than 2 million customers. Delivering an outstanding shopping experience continues to be core, and customers satisfaction remained high with a 4.6 (4.6) score on Trustpilot and a Net Promoter Score of 70 (69).

Care-For a responsible e-commerce

With the sustainability report Boozt announces its new Care-For sustainability strategy. The strategy outlines how Boozt is focusing its efforts towards becoming the leading responsible e-commerce company in the Nordics by 2025, using the business as a catalyst for positive change within the industry. Actionable goals for the next five years will ensure progress is made in the right direction, including going climate neutral across all of Boozt's operations and becoming a B Corp certified business. The report also communicates the progress made during 2020. The company maintained an industry-leading low 300g CO2 distribution emission per order, including returns, through investments into its local environmentally optimised fulfilment centre and running all operations on 100% renewable energy. With the Fair-Use Policy that eliminates extreme return, Boozt also lowered its total carbon emissions for the year by an amount equivalent to 25% of the returns CO2 footprint. Full details can be found in the Boozt Sustainability Report.

Hermann Haraldsson, Co-founder & CEO, says, 'We are committed to supporting our brand partners on their sustainability journey, making it easier for our customers to find and choose sustainable styles, and developing best-practices through strategic partnerships. When online shopping is done right it makes sustainable choices easier.'

The full Annual Report including the Corporate Governance Report and the Sustainability Report for 2020 can be found on the company's corporate website.