Q1 results were released today.
XXL-ASA-Interim-report-Q1-2024.pdf (xxlasa.com)
EBITDA was actually positive, NOK 12 million (vs. NOK -45 million a year ago), but the result was still NOK 202 million in the red. Depreciations (depreciation, I’m not sure if it’s the same since the language is different) accounted for 200 million of that.
Revenue decreased by approx. -22%. The market is challenging; this is the ninth consecutive quarter where revenue has declined.
They expect EBITDA to rise to NOK 500-750 million over the next 12-15 months.
The store previously closed in Finland was unprofitable and was closed for that reason.