Year-End Report 2014

Continued growth and successful launch of Qliro payment solution
Fourth Quarter

  · Net sales, excluding divested operations, increased by 15%, amounting to SEK
1,649.6 (1,438.7) million. Including divested operations, net sales increased by
12%, amounting to SEK 1,649.6 (1,470.6) million.
  · Operating profit, excluding divested operations, non-recurring items and
Qliro Financial Services amounted to SEK 21.9 million (25.0). Including divested
operations, non-recurring items and Qliro Financial Services, the operating
profit amounted to SEK -3.6 million (profit 26.6).
  · Net income totalled SEK -7.0 (15.8) million.
  · Earnings per share amounted to SEK -0.06 (0.13).
  · Cash flow from operations, excluding Qliro Financial Services, amounted to
SEK 256.4 (138.0) million. Including Qliro Financial Services, cash flow from
operations amounted to SEK 86.6 million.
  · During the quarter, the rights issue of approximately SEK 647 million and
the early redemption of the convertible bond of SEK 250 million was carried out.

Full year 2014

  · Net sales, excluding divested operations, increased by 15%, amounting to SEK
4,966.8 (4,326.8) million. Including divested operations, net sales increased by
13%, amounting to SEK 5,014.9 (4,440.5) million.
  · Operating profit, excluding divested operations, non-recurring items and
Qliro Financial Services, amounted to SEK 22.8 (-0.3) million. Including
divested operations, non-recurring items and Qliro Financial Services, operating
profit totalled SEK 33.0 (-48.0) million.
  · Net income amounted to SEK 5.4 (-67.3) million.
  · Earnings per share amounted to SEK 0.02 (-0.65).
  · Cash flow from operations, excluding Qliro Financial Services, amounted to
SEK 74.7 (-138.6) million. Including Qliro Financial Services, cash flow from
operations amounted to SEK -106.5 million.

For a statement of sales of operations and non-recurring items, see page 5. For
a statement showing the impact of Qliro Financial Services, see pages 4, 5 and
11.

CEO statement
Paul Fischbein, President & CEO comments: “Qliro Group’s sales are continuing to
display strong momentum. All segments showed growth in the fourth quarter and
total sales in 2014 reached SEK 5 billion for the first time, while underlying
operating income for the full year before depreciation and amortisation (EBITDA)
amounted to SEK 49 million. The Group’s cash flow from operations, excluding
Qliro Financial Services’s loan book, was positive and amounted to SEK 75
million for the full year.

We have entered into an extremely exciting phase in the company’s history. In
the fourth quarter we changed the name of the Group to Qliro Group, and this
change marks the fact that we now rapidly form a new future for the business.
The launch of our payment solution Qliro is a good example of a key initiative
and it was introduced to the market in December, with considerable success. We
are therefore looking forward to the continued roll-out of the payment solution,
which is progressing at a high pace.

All our companies are showing strong growth and we are continuing to invest in
our businesses. In addition to the continued investment in the Qliro payment
solution, we will be relocating Lekmer’s warehouse operations to a new facility,
generating capacity for persistent high growth and improved efficiency. The
consolidation of CDON’s warehouse operations will continue in 2015 and we are
also working on improving Nelly’s and Tretti’s logistics operations through
continued investments in systems and equipment.

Nelly showed growth of 14% in the fourth quarter in a market that was sluggish
as a result of the warm weather, and the rapid strengthening of the US dollar
which had a negative impact of around SEK 4 million on the fourth quarter
earnings. However, underlying profit, excluding currency effects, on our home
market, Sweden, remained stable. Sales for Gymgrossisten rose by 14%, displaying
an EBIT margin of 7%.

The number of retailers affiliated to CDON Marketplace rose to 402, which boosts
the future growth potential for CDON Marketplace. CDON increased sales by 9% in
the quarter, and, despite major investments, succeeded in making a positive
underlying profit of almost SEK 6 million. The total business volume for CDON
including Marketplace rose by 12% in the fourth quarter.

The fourth quarter saw the completion of Qliro Group’s rights issue, raising SEK
647 million for the company before transaction costs, which both strengthens us
financially and creates new opportunities for the company. I would like to take
this opportunity to express my thanks to the shareholders for your confidence in
Qliro Group and our plans for the future.”

For further information, please visit www.qlirogroup.com, or contact:
Paul Fischbein, President and Chief Executive Officer
Phone: +46 (0) 10 703 20 00

Investor and analyst enquiries:
Nicolas Adlercreutz, CFO
Phone: +46 (0) 70 587 44 88

Press enquiries:
Fredrik Bengtsson, Head of Communications
Phone: +46 (0) 70 080 75 04
E-mail: press@qlirogroup.com, ir@qlirogroup.com

About Qliro Group
Qliro Group is a leading e-commerce group in the Nordic region. Since the start
in 1999, the Group has expanded and broadened its product portfolio and is now a
leading e‐commerce player in consumer goods and lifestyle products through
CDON.com, Lekmer, Nelly (Nelly.com, NLYman.com, Members.com), Gymgrossisten
(Gymgrossisten.com/Gymsector.com, Bodystore.com, Milebreaker.com) and Tretti.
The group also comprises the Qliro payment solution. In 2014, the group
generated 5.0 billion SEK in revenue. Qliro Group’s shares are listed on Nasdaq
Stockholm’s Mid-cap list under short name “QLRO”.

The information in this interim report is that which Qliro Group AB is required
to disclose under the Securities Markets Act. This information was released for
publication at 08.00 CET on 28 January 2015.