The interim report for FNG Nordic AB (Ellos Group) is published today.

THE FOURTH QUARTER 2021
* Net sales increased by 6.6 % to SEK 1 059.3 (993.3) million. Currency effects had a positive effect on
growth of 0.6 %.
* The gross margin decreased to 50.6 (52.1) %.
* The operating profit/loss amounted to SEK 10.4 (-325.9) million. The operating margin was 1.0 (-32.8) %.
* Adjusted EBITA amounted to SEK 38.9 (99.4) million. The adjusted EBITA margin stood at 3.7 (10.0) %.
* Adjusted EBITDA amounted to SEK 63.7 (121.8) million. The adjusted EBITDA margin stood at 6.0
(12.3) %.
* Cash flow from operating activities amounted to SEK 43.5 (89.4) million.
* Operating cash flow totalled SEK 25.6 (72.1) million.
* Cash and cash equivalents amounted to SEK 196.3 (320.7) million.

FULL YEAR 2021
* Net sales increased by 13.0 % to SEK 3 589.1 (3 174.9) million. Currency effects had a negative effect on
growth of 0.5 %.
* The gross margin increased to 51.4 (47.3) %.
* The operating profit/loss amounted to SEK 43.6 (-343.4) million. The operating margin was 1.2 (-10.8) %.
* Adjusted EBITA amounted to SEK 161.4 (290.2) million. The adjusted EBITA margin stood at 4.5 (9.1) %.
* Adjusted EBITDA amounted to SEK 257.5 (381.5) million. The adjusted EBITDA margin stood at 7.2
(12.0) %.
* Cash flow from operating activities amounted to SEK -16.3 (131.4) million.
* Operating cash flow totalled SEK -74.4 (95.1) million.
* Cash and cash equivalents amounted to SEK 196.3 (320.7) million.

Comment from the Chair of FNG Nordic AB (publ)

CONTINUED GROWTH RESULTING IN Q4 RECORD SALES OF SEK 1 BILLION

Ellos Group continued to grow in the last quarter of 2021. For the first time ever, our sales reached SEK 1 billion in one quarter, corresponding to a growth of approx. 7 percent. As for 2021 in general as well as the overall online retail market development, the quarter met challenging comparative figures; sales in the same quarter 2020 grew by approx. 28 percent.

The quarter was characterized by short-term pendulum effects of people choosing brick-and-mortar over online
retail following lifted restrictions during the year. We continued to see increased competition for customers, resulting in high price inflation in digital marketing. This, in combination with materially higher freight costs, was visible in our bottom-line result. Adjusted EBITA in the fourth quarter amounted to SEK 38.9 million, corresponding to a margin of 3.7 percent. Regardless, we kept delivering a gross margin exceeding 50 percent both in the quarter and for the full year.

It is gratifying to see continued growth both within the Home and Fashion categories, a trend that has also lasted throughout the year. Despite strong comparative figures, growth for the full year landed at 13 percent, with sales totalling almost SEK 3.6 billion.

The European expansion continues as planned and we see great potential ahead supported by a long-term
structural growth online, especially in the home segment. We have continued to recruit new customers and develop
our offering in these markets. European sales now account for more than 5 percent of our total sales.

During 2021, we have continued to build our customer base and establish conditions for a continued profitable
growth post Covid-19. In the fourth quarter, we launched several new collections and exiting collaborations. Among other things, Ellos launched a successful dress collaboration with Johanna Toftby. Our own collections with party dresses such as Ellos Collection, Ellos Plus Collection and Joelle performed strong in the quarter. We are pleased to see that our offers are much appreciated by customers. For our Home offering, we have continued to build out our logistics capacity and the second phase of our logistics center in Viared is operative as of January 2022.

As previously communicated, the board of Ellos Group continues to evaluate strategic options with the objective to give Ellos Group the best possible settings, capital structure and future possibilities.

We continue to look positively on the future as Ellos Group is well positioned on the market to benefit from the long-term strong and structural underlying growth online in the home and fashion segment in the Nordics and Northern
Europe.

Robert Furuhjelm, Chairman of the board in FNG Nordic AB (publ).

For more information:
Johan Stigson, CFO, Telephone. +46 (0)33 16 08 05
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This information is information that FNG Nordic AB (publ) is legally obliged to disclose in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. Through the agency of the contact persons shown above, the information was released for publication on 23rd of November 2021 at 08.30 CET.

ABOUT ELLOS GROUP
The Ellos Group, which includes Ellos, Jotex, Stayhard, and Homeroom, is the Nordic region’s leading e-commerce group. Working closely with our millions of customers, we are constantly striving to develop and offer attractive and sustainable fashion and household items for the entire family. Our focus is always on the customer. We continuously work to develop our business through innovation, creativity, and sustainability. The Ellos Group, headquartered in Borås, and with operations in all Nordic countries, has around 550 employees and sales of around SEK 3.2 billion. www.ellosgroup.com