Year-End Report 12 months - 1 January-31 December 2023

Published7 Feb 2024


  • Net sales declined by 6 percent to MSEK 1,601 (1,702). Currency-adjusted sales declined by 8 percent.
  • Operating profit before depreciation and amortisation (EBITDA) excl. non-recurring items of MSEK 0 (-1) increased by 23 percent to MSEK 209 (170) 1).
  • Operating profit increased by 56 percent to MSEK 142 (91) 1), corresponding to an operating margin of 8.9 percent (5.3).
  • Profit after financial items rose by 80 percent to MSEK 137 (76).
  • Profit after tax amounted to MSEK 119 (58).
  • Earnings per share before dilution increased by 70 percent to SEK 0.51 (0.30). Earnings per share after dilution totalled SEK 0.50 (0.30). 2)
  • Cash flow from operating activities amounted to MSEK 376 (469). 3)


  • Net sales declined by 11 percent to MSEK 6,139 (6,868). Currency-adjusted sales declined by 15 percent.
  • Operating profit before depreciation and amortisation (EBITDA) excl. non-recurring items of MSEK 0 (-30) amounted to MSEK 686 (704) 1).
  • Operating profit amounted to MSEK 432 (403) 1), corresponding to an operating margin of 7.0 percent (5.9).
  • Profit after financial items totalled MSEK 385 (348).
  • Profit after tax amounted to MSEK 292 (243).
  • Earnings per share totalled SEK 1.24 (0.78) before dilution and to SEK 1.23 (0.78) after dilution. 2)
  • Cash flow from operating activities amounted to MSEK 810 (542). 3)
  • The equity/assets ratio at the end of the year was 56 percent (48). 2)
  • Net debt excluding lease liabilities amounted to MSEK 45 (399).
  • The Board of Directors proposes a dividend of SEK 0.75 (0.50) per ordinary share for 2023.


1) EBITDA and operating profit for the comparative periods were charged with non-recurring items of MSEK -1 (fourth quarter of 2022) and MSEK -30 and MSEK -40, respectively (full 2022 financial year). Non-recurring items mainly consist of costs relating to transformation work under ITAB’s One ITAB strategy.
2) Including Discontinued Operations.
3) Comparative periods have not been restated related to Discontinued Operations.



  • In January, ITAB signed an agreement for the delivery of checkouts and merchandising solutions to a leading European grocery chain for a total value of at least MEUR 12 over three years.
  • In February, new partnerships were signed with Rapitag, Signatrix and Theory+Practice with the aim of strengthening ITAB’s ecosystem of partners.
  • ITAB participated in the world’s leading retail trade fair, EuroShop 2023, in Düsseldorf at the turn of the month February-March.
  • In March, ITAB launched Onred, a unique technology platform for retailers that links together the Group’s portfolio of digital and physical solutions for increased efficiency and an improved store experience.
  • In May, ITAB signed an agreement with a leading grocery chain in Argentina for the delivery of interiors and checkouts for a total value of approximately MEUR 13 MEUR over two year.
  • In cooperation with its local partner, ITAB began delivering smart gates for entrance and exit solutions in approximately 650 stores for one of Australia’s largest grocery chains. The value of the installed products amounts to approximately MEUR 25 for the Group over two years.
  • At the end of September, ITAB initiated a share buyback program with a maximum purchase amount of MSEK 50 until the 2024 Annual General Meeting.


President’s comments –

"A good conclusion of 2023 gives the full year the highest operating profit since 2017, strong cash flow and signs of a stabilization of demand. Much work remains to be done but we have taken further steps towards our ambition to be the leading solution provider for the retail sector in Europe”, concludes President & CEO Andréas Elgaard.

Please read the full President’s comments in the Year-End Report.

Jönköping, 7 February 2024


ITAB Shop Concept AB (publ)


Webcast presentation on 7 February 2024 at 10:30 a.m. CET
ITAB arranges a webcast presentation today, 7 February 2024 at 10:30 a.m. CET, in which Andréas Elgaard, President & CEO, and Ulrika Bergmo Sköld, CFO, will present the Year-End Report for 2023 and answer any subsequent questions. Weblink and telephone numbers are available at


The information in this report is such that ITAB Shop Concept AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU Regulation No 596/2014). The information was submitted for publication, through the agency of the contact persons set out below, at 7:00 a.m. CET on 7 February 2024.
   This report is in all respects a translation of the Swedish original Year-End Report. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.


file-iconITAB Year-End Report Q4 2023 En
For further information, please contact:
Andréas Elgaard, President & CEO
Telephone: +46-732 32 16 35

Mats Karlqvist, Head of Investor Relations
Telephone: +46-70 660 31 32

ITAB Shop Concept AB (publ), Box 9054, SE-550 09 Jönköping, Sweden,

AT ITAB we help customers turn consumer brand experience into physical reality with our know-how, solutions, and ecosystem of partners. We co-create with our customers, efficient retail solutions that deliver convenient and inspiring consumer experiences. The offer includes consultative design services, custom-made interiors, checkout systems, consumer guidance solutions, professional lighting systems and interactive digital solutions for the physical store. ITAB has annual sales of approximately SEK 6.2 billion and approximately 2,500 employees. ITAB’s share is listed on Nasdaq Stockholm.