TRADING UPDATE: MERCHANT ISSUE DURING BLACK WEEK IMPACTS EBITDA NEGATIVELY

CDON announces a trading update for the fourth quarter of 2021. Issues relating to merchant's delivery of products has impacted adversely EBITDA for CDON with a reserved one-time cost of approximately 15-20 million SEK.

During the CDON's sales campaign "Black Week", an issue relating to a merchant's delivery of products was discovered. Customers buying from a specific merchant on CDON Marketplace didn't receive their ordered products as stated. This represents a breach in CDON's terms and conditions which led CDON to remove the merchant from CDON Marketplace. To be able to compensate the customers for their made purchases, a one-time cost of approximately 15-20 million SEK will be reserved by CDON in the fourth quarter of 2021.

Comment from Interim CEO Allan Junge-Jensen

"We take our position as the leading Nordic marketplace very seriously and for this reason we will make sure our customers are fully compensated. We want our present and future customers to experience safe shopping at CDON and this event make us even more determined to safeguard the customers and making sure that merchants on CDON's platform are scrutinized even more closely to adhere to our high-quality standards".

For more information:

Allan Junge-Jensen

Interim CEO

E-mail: [email protected]

Stefan Egerstad

Interim CFO

E-mail: [email protected]

Certified Adviser
FNCA Sweden AB is the company's Certified Adviser.
Phone: +46 (0) 8 528 00 399
E-mail: [email protected]

The information was prior to this release inside information and is information that CDON AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above on November 26, 2021 at 21:30 p.m. CET.

About CDON

CDON was founded in 1999 and is now the biggest marketplace in the Nordic region. During 2020 we had over 120 million visits and 2.3 million customers. Customers can choose to buy and compare prices for millions of products at CDON, by far the widest range of all Nordic e-retailers. Over 1,500 merchants use CDON's platform and technology to increase their sales. This gives CDON a wide range of products within, movie, music, computers, games, office supplies, books, toys, consumer electronics, household appliances, sport, outdoor, beauty care, fashion, shoes, computers, and computer products. CDON is listed on Nasdaq First North Growth Market with the abbreviation CDON.

The board of directors of CDON proposes a new long-term incentive program (Ownership Program 2022) for management

The Board of Directors of CDON AB ("CDON") proposes a long-term incentive program ("Ownership Program 2022") for CDON's management team and management of subsidiaries. The purpose of the proposed program is to create strong incentives for management to drive the long-term performance of CDON, attract and retain key competence, and align the interests of the participants with the shareholders' interests.


Notice of Extraordinary General Meeting in CDON AB

The shareholders in CDON AB, Reg. No. 556406-1702 ("CDON" or the "company"), are hereby summoned to the Extraordinary General Meeting on Tuesday, 22 February 2022, 14:00 CET in Törngren Magnell & Partners Advokatfirma KB's premises, Jakobs Torg 3, 111 52 Stockholm.


CDON acquires Xales and Commerce8

CDON AB (publ) ("CDON") has acquired 71.7 per cent of Commerce 8 Oy ("Commerce8"), an e-commerce consultancy firm and 56 per cent of Xales Tech Lab Oy ("Xales"), an integration platform which connects online stores to relevant marketplaces. Part of the acquisition of Xales will be paid by a directed issue of 6,156 CDON shares to the sellers, corresponding to a dilution of 0.10% based on the total amount of shares in CDON after the directed issue. The acquisitions will further strengthen CDON's offering towards merchants, both in relation to the onboarding process as well as sales data and analytics. The companies will also help drive new Nordic and international merchants to CDON's platform.


TRADING UPDATE: MERCHANT ISSUE DURING BLACK WEEK IMPACTS EBITDA NEGATIVELY

CDON announces a trading update for the fourth quarter of 2021. Issues relating to merchant's delivery of products has impacted adversely EBITDA for CDON with a reserved one-time cost of approximately 15-20 million SEK.


The Nomination Committee ahead of CDON's Annual General Meeting 2022 has been appointed

CDON's Nomination Committee (Sw. valberedningen) ahead of the Annual General Meeting 2022 has been appointed in accordance with the current instructions for the Nomination Committee adopted by the Annual General Meeting 2021.


Interim report 1 July - 30 September 2021

Positive trend heading into Q4


CDON appoints Peter Kjellberg as CEO

The Board of Directors of CDON AB announces that Peter Kjellberg has been appointed CEO of CDON AB starting January 1st.


INBJUDAN TILL PRESENTATION AV CDONS KVARTALSRAPPORT Q3 2021

CDONs kvartalsrapport avseende perioden juli-september 2021, publiceras den 21 oktober 2021 kl 13:00 CEST.


INVITATION TO PRESENTATION OF CDON'S INTERIM REPORT Q3 2021

CDON's interim report for the period July-September 2021, will be published on October 21, 2021 at 13:00 CEST.


Från osynliga hjälmar till Nordens största marknadsplats - CDON rekryterar Apollonia San Contreras för att satsa på varumärkeskännedomen

Som ett led i CDONs fortsatta utveckling med kundupplevelse och varumärkeskännedom i fokus, stärker man nu upp marknadsavdelningen genom att knyta till sig Apollonia San Contreras i rollen som Head of Marketing. Apollonia tillträder sin nya tjänst den första december 2021.


From invisible helmets to the Nordic region's largest marketplace - CDON is recruiting Apollonia San Contreras to focus on brand awareness

As part of CDON's continued development with customer experience and brand awareness, the marketing department is now being strengthened by Apollonia San Contreras, who is taking on the role of Head of Marketing. Apollonia will start in her new role December 1st, 2021.


CDON utser Stefan Egerstad till interim CFO

CDON AB meddelar att Stefan Egerstad har utsetts till interim CFO för CDON AB från och med den 1 november.


CDON appoints Stefan Egerstad as interim CFO

CDON AB announces that Stefan Egerstad has been appointed interim CFO of CDON AB starting November 1st.


Följ oss

Om beQuoted

beQuoted publicerar nyheter, analyser och pressmeddelanden för investerare och journalister. Viktiga företagshändelser bevakas av vår egen nyhetsredaktion och vidaredistribueras i ledande finansiella medier.

Vi uppdaterar även nyhetsrum, Investor Relations och IR-webbplatser för företag som vill utveckla sina relationer med finansmarknaden.

Kontakta oss

beQuoted AB
Nybrogatan 34
Box 5216
102 45 Stockholm

08-692 21 90

Om beQuoted