CDON AB

CDON AB will release its fourth quarter and full-year 2024 report on February 13, 2024, at 13:00 CET. A presentation for investors, analysts, and media will follow at 14:00 CET via webcast and teleconference, led by CEO Fredrik Norberg and CFO Carl Andersson. Participants can ask questions during the presentation, which will be conducted in English. Details for accessing the webcast and teleconference are provided. CDON, founded in 1999, is a leading Nordic marketplace with a wide product range and over 1,500 merchants. Its shares are listed on Nasdaq First North Growth Market. Fyndiq, a subsidiary since April 2023, offers bargain products and operates primarily in Sweden, with additional sites in Finland, Norway, and Denmark.

Richard Shapiro has resigned from the Board of Directors of CDON AB, effective immediately. He was initially nominated by a former large shareholder who is no longer invested in the company. Despite his resignation, Shapiro expressed optimism about CDON's future and confidence in its leadership. The Board, now consisting of four members, still meets the requirements of CDON's articles of association, so no extraordinary general meeting will be held to appoint a new member. Shapiro's resignation is awaiting confirmation by the Swedish Companies Registration Office, and he will not be involved in further Board activities. The Board Chair, Christoffer Norman, thanked Shapiro for his contributions. CDON is the largest marketplace in the Nordic region, and its subsidiary Fyndiq operates a marketplace for bargain products.

CDON AB's Nomination Committee for the Annual General Meeting 2025 has been appointed according to the instructions set in 2021. The committee comprises Jonathan Buba from Nantahala Capital, Ebba Ljungerud from Rite Ventures, and David Kanen from Kanen Wealth Management, with Ebba Ljungerud elected as Chair. The committee is responsible for preparing proposals on various AGM resolutions, including board and auditor elections, remuneration, and potential changes to committee instructions. The AGM is scheduled for May 7, 2025, in Stockholm. Shareholders can submit proposals to the committee via email or post. CDON, founded in 1999, is the largest Nordic marketplace, and its shares are listed on Nasdaq First North Growth Market. Fyndiq, a subsidiary since April 2023, operates a marketplace for bargain products across Sweden, Finland, Norway, and Denmark.

CDON AB will release its interim report for July to October 2024 on Thursday, October 24th, at 13:00 CEST. A presentation for investors, analysts, and media will follow at 14:00 CEST, conducted by CEO Fredrik Norberg and CFO Carl Andersson. The presentation, held in English, will be available via webcast and teleconference, with opportunities for participants to ask questions. Registration links for the webcast and teleconference are provided. CDON, founded in 1999, is the largest marketplace in the Nordic region with over 1,500 merchants and a wide range of products. Its shares are listed on Nasdaq First North Growth Market. Fyndiq, a subsidiary of CDON since April 2023, operates a marketplace for bargain products and is headquartered in Stockholm.

CDON has successfully completed its platform migration across all markets, transitioning its frontend and most of its backend from a legacy system to a new shared platform. This move, part of the integration following the acquisition of Fyndiq, aims to enhance development efficiency and improve the shopping experience. The migration is also a crucial step towards achieving a 40 million SEK run-rate saving by 2025. CDON's CEO, Fredrik Norberg, and CTO, Atra Azami, praised their team's execution and highlighted the new platform's potential for supporting future growth and innovation. CDON, the largest marketplace in the Nordic region, and its subsidiary Fyndiq, continue to offer a wide range of products and services to customers and merchants.

Nantahala Capital, an existing shareholder in CDON AB, has acquired approximately 2.2 million additional shares in a private transaction, enhancing its ownership position in the company. The transaction, completed on September 17, 2024, did not involve the issuance of new shares by CDON. Nantahala Capital, a US-based investment firm, expressed confidence in CDON's strategy and management, viewing the increased stake as a commitment to the company's long-term potential. CDON's CEO, Fredrik Norberg, welcomed the increased engagement from Nantahala. CDON, founded in 1999, is the largest marketplace in the Nordic region, with over 1,500 merchants using its platform. Fyndiq AB, a wholly-owned subsidiary of CDON since April 2023, offers a wide range of bargain products and operates in Sweden, Finland, Norway, and Denmark.

In the second quarter of 2024, CDON Group experienced a 14% decline in total gross merchandise value (GMV) to SEK 426.1 million, with the CDON segment's organic GMV dropping by 21%. Net sales decreased by 7% to SEK 97.2 million, while the gross margin improved by 2.8 percentage points to 77.0%. Despite this, gross profit after marketing (GPAM) fell by 7% to SEK 44.6 million. The EBITDA was negative at SEK -9.4 million, and EBIT was SEK -33.7 million. Earnings per share were SEK -3.18, with adjusted earnings per share at SEK -1.63. Year-to-date figures show a 9% decrease in total GMV to SEK 823.3 million, and a 24% drop in organic GMV for the CDON segment. Net sales slightly decreased by 1% to SEK 192.9 million, but the gross margin increased by 9.3 percentage points to 75.3%. GPAM increased by 13% to SEK 88.9 million. EBITDA was negative at SEK -11.6 million, and EBIT was SEK -60.5 million. Earnings per share were SEK -5.70, with adjusted earnings per share at SEK -2.60. CEO Fredrik Nordberg acknowledged the challenges faced, including elevated costs due to the Malmö office closure, but highlighted ongoing strategic initiatives aimed at long-term growth. These include improving supply acquisition, addressing SEO issues, completing a platform migration, and consolidating operations to the Stockholm office. Despite the financial setbacks, the CEO remains optimistic about the future impact of these initiatives. A webcast and teleconference were scheduled for analysts, investors, and the media to discuss the report further. CDON, founded in 1999, is the largest marketplace in the Nordic region, and Fyndiq, a subsidiary since April 2023, offers a wide range of bargain products.

CDON AB (publ) will release its interim report for Q2 2024 on Friday, July 12th, 2024, at 13:00 CEST. A presentation of the report by CEO Fredrik Norberg and CFO Carl Andersson will follow at 14:00 CEST via webcast and teleconference, with a Q&A session afterward. The presentation will be in English. Participants can join the webcast or teleconference through provided links. The presentation materials and webcast will be available on CDON's investor relations page. CDON, founded in 1999, is the largest marketplace in the Nordic region, offering a wide range of products from over 1,500 merchants. CDON's shares are listed on Nasdaq First North Growth Market. Fyndiq AB, a subsidiary of CDON since April 2023, operates a marketplace for bargain products and is headquartered in Stockholm. For more information, contact CEO Fredrik Norberg or CFO Carl Andersson.