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Boozt SEK million unless otherwise indicated GROUP Net revenue Gross profit EBIT Q1 - report JANUARY 1 - MARCH 31 2021 First Quarter highlights Financials Net revenue of SEK 1,137.4 million and a net revenue growth of 48.5 % ( local currency 54 % ) . Net revenue growth of 40.7 % for Boozt.com and 100 % for Booztlet.com Gross margin of 40.3 % ( 31.9 ) Adjusted EBIT margin of 6.0 % ( -8.0 ) Earnings per share of SEK 0.67 ( -1.39 ) and after dilution SEK 0.64 ( -1.39 ) Free cash of SEK -235.9 million ( -22.8 ) Significant events Successful insourcing of fulfilment staff 2021 outlook of 20-25 % net revenue growth and above 5 % adjusted EBIT margin Updated medium term financials ambitions of outgrowing the Nordic online market significantly and a 5-7 % adjusted EBIT margin through 2023 . Significant events after the end of the period Upgraded 2021 outlook of 25-30 % net revenue growth ( 20-25 % previously ) , and adjusted EBIT margin above 5.5 % ( above 5 % previously ) Launched BooztPay at Boozt.com making it available across the Boozt online universe . Jan 1 - Mar 31 , 2021 Jan 1 - Mar 31 , 2020 1,137.4 458.0 58.3 68.7 42.9 -235.9 48.5 % 40.3 % Adjusted EBIT * Earnings for the period Free cash flow * Net revenue growth ( % ) * Gross margin , ( % ) * EBIT margin , ( % ) Adjusted EBIT margin , ( % ) * Rounding differences may affect the summations . The figure is an Alternative Performance Measure , see pages 28-31 . 5.1 % 6.0 % Outlook for 2021 New outlook as of April 13 , 2021 Between 25-30 % Above 5.5 % Net revenue growth Adjusted EBIT margin The outlook assumes constant currencies from the time of this announcement and for the remainder of the financial year . 766.0 244.3 -87.8 -61.0 Boozt AB ( publ ) , Org.nr. 556793-5183 -79.9 -22.8 7.5 % 31.9 % -11.5 % -8.0 % Change Prior outlook Between 20-25 % Above 5 % 48.5 % 87.5 % n.m. n.m. n.m. -213.1 CEO Hermann Haraldsson says : " During the first quarter we have managed to strike a delicate balance between growth , high customer satisfaction and profitability . Growth exceeded our expectations with 54 % local currency growth and strong profitability with an adjusted EBIT margin of 6 % . Customer satisfaction continued to be best - in - class and we attracted new customers and enjoyed a strong contribution from our loyal customer base . On the back of stronger than expected first quarter , a promising start to the new season and less uncertainty on the development for the rest of the year , we recently upgraded our outlook for 2021 " . 41.0 pp 8.4 pp 16.6 pp 14.0 pp Realized 2020 27.3 % 6.7 %