Interim Report 3 months - 1 January-31 March 2024

Published14 May 2024


  • Net sales increased by 5 percent to MSEK 1,576 (1,505). Currency-adjusted sales increased by 5 percent during the quarter.
  • Operating profit before depreciation and amortisation (EBITDA) increased by 62 percent to MSEK 223 (138).
  • Operating profit increased by 130 percent to MSEK 161 (70), corresponding to an operating margin of 10.2 percent (4.7).
  • Profit after financial items increased by 147 percent to MSEK 141 (57).
  • Profit after tax amounted to MSEK 103 (41).
  • Earnings per share before dilution increased by 207 percent to SEK 0.46 (0.15). Earnings per share after dilution totalled SEK 0.46 (0.15). 1)
  • Cash flow from operating activities amounted to MSEK 64 (-8).
  • The equity/assets ratio at the end of the quarter was 56 percent (53). 1)
  • Net debt excluding lease liabilities amounted to MSEK 96 (490).

1) Including Discontinued Operations.



  • ITAB commenced delivery of 7,200 self-checkouts to the stores of a leading grocery chain in multiple countries in Europe during January. Completion of the deliveries is expected to take place in February 2025, and the total value of the contract is estimated at approximately MEUR 16 in 2024.
  • In January, ITAB signed an agreement with a leading fashion chain in Europe for the delivery of customised interiors, checkouts and fitting rooms for the refurbishment of existing stores and in upcoming new stores over three years. The total value of the contract is estimated at approximately MEUR 16.
  • ITAB’s share buyback program for a maximum amount of MSEK 50, which was introduced in September 2023, was completed in late March 2024 when the maximum amount for share repurchases was reached. A total of 3,079,659 ordinary shares were repurchased within the framework of the program.
  • In early April, ITAB signed an agreement with a leading grocery chain for the delivery of entrance and exit gates, aimed at improving loss-prevention measures in their stores across Europe. The total value of the contract is estimated at at least MEUR 8 over three years.


President’s comments –

“ITAB started 2024 with a strong quarter in terms of earnings, despite the unchanged economic climate. The stabilisation in demand that we noted in the autumn has continued, and our gross margin has improved. The operating margin for the quarter was the highest to date for the January–March period in any year in ITAB’s history, which is a confirmation that our long-term plan works. Over the next two to three years, our focus will be on finishing the final part of our strategy to transform and modernise ITAB in combination with increased focus on expansion and consolidation of the market,” concludes President & CEO Andréas Elgaard.


Please read the full President’s comments in the Interim Report.


Jönköping, 14 May 2024


ITAB Shop Concept AB (publ)


Webcast presentation on 14 May 2024 at 10:30 a.m. CEST
ITAB arranges a webcast presentation today, 14 May 2024 at 10:30 a.m. CEST, in which Andréas Elgaard, President & CEO, and Ulrika Bergmo Sköld, CFO, will present the Interim Report for the first quarter 2024 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 below, at 7:00 a.m. CEST on 14 May 2024.
   This report is in all respects a translation of the Swedish original Interim Report. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.


file-iconITAB Interim Report Q1 2024 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.