UK markets closed
  • FTSE 100

    -94.15 (-1.26%)
  • FTSE 250

    -236.13 (-1.26%)
  • AIM

    -7.02 (-0.87%)

    +0.0026 (+0.22%)

    -0.0057 (-0.46%)
  • Bitcoin GBP

    -399.24 (-1.75%)
  • CMC Crypto 200

    -21.06 (-3.41%)
  • S&P 500

    +22.27 (+0.56%)
  • DOW

    +132.28 (+0.41%)

    -0.76 (-1.09%)

    -14.90 (-0.75%)
  • NIKKEI 225

    -34.36 (-0.13%)

    -133.96 (-0.67%)
  • DAX

    -253.16 (-1.66%)
  • CAC 40

    -124.15 (-1.74%)

Go North Group AB (Publ) announces positive EBITA

EQS-News: Go North Group AB / Key word(s): Miscellaneous
Go North Group AB (Publ) announces positive EBITA
03.03.2023 / 18:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Gothenburg, March 3, 2023


Go North Group AB (Publ) announces its first reported profitable quarter, contributing a positive EBITA of KSEK 871 in Q4, 2022

Go North Group AB (publ) AB, 559252-2188

Go North is positioned to become the global leader in the Amazon Marketplace category. Every fundraising round during 2022 has been oversubscribed (both equity and debt) and we see continuous strong interest from new potential investors. With aggregators struggling, less competition in the market, and decreasing acquisition multiples, we believe we can continue cherry picking the very best assets to be acquired at low prices. During 2022 Go North's internal organization matured, with in-house capabilities in place across the main growth levers and world class technology in place, we are confident to continue scale organic profit growth post acquisition of existing and new brands. 

October - December 2022 (compared to October - December 2021)

●    Net sales were KSEK 71,377, an increase of 9024% compared to quarter four, 2021 (KSEK 791); and contributing 60% of the total net sales of 2022

●    Adjusted EBITDA was KSEK 9,795 (-870), corresponding to a margin of 14%

●    EBITA closed at KSEK 871 (-1,020), corresponding to a margin of 1,2%

●    Cash flow from operating activities accounted for KSEK 56,884 (-1,902)

●    ROCE amounted to  0% (-160%)


January - December 2022 (compared to January - December 2021)

●    Net sales were KSEK 118,280, an increase of 9679% compared to the corresponding previous year (KSEK 1,222)

●    Adjusted EBITDA was KSEK -6,197 (-1,958), corresponding to a margin of -8,7%

●    EBITA closed at KSEK -16,333 (-2,111), corresponding to a margin of -774%

●    Cash flow from operating activities amounted to KSEK -52,537 (-3,338)

●    ROCE amounted to 0% (-80%)


"Throughout 2022, Go North´s organization has matured. Our in-house Amazon operations and growth capabilities are of highest prioritization and continuously strengthened. We're ready to become the industry leader." Johan Hallenby, CEO/ Founder Go North Group AB


Go North is also exploring other ways of financing its continued expansion, including the possibility of raising additional equity if market conditions permit. To advise on the process, Go North has mandated Carnegie Investment Bank AB (publ) as its financial advisor.


Q4 Key Highlights

●    Amazon marketplace, and business model largely resilient to macro headwinds

●    Strong net sales performance for the full year 2022, with strong momentum into Q4

●    Accelerated strategic process, team and infrastructure investments

●    Continuous and oversubscribed interest from investors

●    Increasing buying power, enabling the proactive management of cost of goods sold

●    Improved processes and improved data, to enhance asset selection and acquisition


For more information, please contact:

Johan Hallenby, CEO/Founder                                                           Jonas Arlebäck, Group CFO

Phone: +46 735 070707                                                                       Phone: +46 701448763                                                   E-mail:


About Go North:

Go North Group AB (publ), acquiring and scaling Amazon FBA brands, has in just over a year built a portfolio with more than 30 brands diversified across a variety of Amazon categories ranging from pets, sports, outdoors, and kitchen supplies. In parallel, Go North has built a team of more than 35 employees with key hires coming with Amazon Seller, Entrepreneurial, Aggregator, and marketplace experience, spread across Europe, the US, and Asia. Continued investments in technology and data are business critical and within the Go North DNA, to ensure the strengthening of our processes, and making data-driven and informed decisions to create future repeatable and scalable organic profit growth for the group.



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit


03.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at




Go North Group AB

Norra Allégatan 5

413 01 Göteborg










EQS News ID:



End of News

EQS News Service

show this
show this