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Nelly Group
Nelly: Major restructuring programme to bolster profitability in 2023 and beyond - SEB (SEB Research)

2022-08-11 10:08

Nelly's acting CEO Helena Karlinder-Östlundh has announced a major restructuring programme, targeting annual savings of SEK 40-50m from mainly changes to staffing and assortment. The programme is expected to reach the full potential "as of Q2 next year". Based on our current 2023 EBIT estimate of SEK 8m, this will have a significant impact on our financial forecasts. Reducing assortment will reduce sales, but should bolster underlying margins.

SEB Research

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