Group sales reached NOK 3.8 billion in Q2 2025, up 22.3% year-over-year, driven by strong Norway performance and the inclusion of ÖoB.
EBIT for Q2 was NOK 423 million, up from NOK 339 million, with Norway's EBIT up 28.9% and Sweden reporting an EBIT loss.
Integration and transformation of ÖoB are progressing, with milestones in category upgrades, IT harmonization, and the first fully remodeled store showing positive results.
SBTi approved science-based net-zero targets, and the group celebrated 10 years on the Oslo Stock Exchange with a 218% total shareholder return.
Net profit to parent was NOK 276 million, positively impacted by accounting effects from the ÖoB acquisition.
Q2 group sales up 22.3% to NOK 3.8 billion; H1 sales up 31.3% to NOK 6.7 billion.
Q2 EBIT was NOK 423 million (up from 339); H1 EBIT was NOK 386 million (down from 445), mainly due to Swedish losses.
Q2 gross margin was 40.6% (down 1.3pp); H1 gross margin was 39.8% (down 2.6pp), mainly due to ÖoB's dilutive impact.
Q2 net profit to parent was NOK 276 million; H1 net profit was NOK 196 million.
Cash from operating activities YTD was NOK -40 million, mainly due to increased inventories and timing of payables.
Confident in long-term target for ÖoB: SEK 5 billion in sales and 5% EBIT margin by 2028.
Expect continued positive consumer sentiment in Norway and Sweden, supported by lower interest rates, real wage growth, and lower inflation.
Plan to open around five new stores per year in Norway, with a strong pipeline for the coming years.
Ongoing focus on category harmonization, joint sourcing, and customer experience improvements.
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