Car Parts Giant Approaching Three-Quarters of a Billion – "A Clear Shift"

Claes Kjelldorff, CEO

But profits are down.

The pursuit of mobile customers and an entry into the Danish market have characterized the past year for the e-retailer Skruvat. By building its own app to simplify the purchase journey, the company has chosen to invest in its digital development in order to gain new market shares. But the strategy of expanding across borders and developing technology is also leaving its mark on the books. As the company now summarizes the financial year, it sees that turnover is ticking upwards, while profits are taking a step back.

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In order to differentiate itself from foreign competitors, particularly with its establishment in Denmark, the company has chosen not to compete solely on low prices. Instead, it has completed a new technical platform and launched an app this year to streamline the purchasing process.

According to the company's data, customers who shop frequently account for over half of all completed purchases, and the company plans to use the new technology to build a long-term relationship with these users.

We saw a clear shift where the mobile phone became the starting point in the customer's purchase journey, said CEO Claes Kjelldorff earlier this year.

Sales Increase – Margins Squeezed

As the books now close for the 2024/2025 financial year, which ended on September 30th, it is clear that the company's sales continue to increase. Turnover for the period amounted to SEK 737.8 million, an increase of 4 percent from the previous year.

But while revenue is growing, profitability is shrinking. Operating profit decreased by 13 percent and stopped at SEK 56.9 million. According to the report, investments in technology and new establishments are impacting margins.

Breaking down sales geographically, the Swedish market accounts for the largest share with a turnover of SEK 414 million, which is an increase of 4 percent compared to the year before.

Next comes the Norwegian market, which generated SEK 298 million, corresponding to an increase of 6 percent. In Finland, sales amounted to SEK 25.8 million, which, however, represents a decrease of almost 13 percent.

Aiming for B2B and Europe

Looking ahead, the company's goal is to further integrate e-commerce with other brands within the owning group. The strategy also includes expanding its presence in B2B, as well as continuing to expand operations into new geographic markets.

Behind the e-commerce company is the French parent company Mobivia Group SA. For the group as a whole, a turnover of EUR 3.4 billion is reported for the latest financial year. The group's operating profit amounted to EUR 136.8 million and net profit to EUR 46.4 million.

Editorial Staff