Group sales grew 16.7% to NOK 14.9 billion for the year, with Q4 sales up 5.3% to NOK 4.6 billion, driven by strong performance in Norway and early improvement in Sweden.
EBIT increased 6.6% to NOK 1.3 billion for the year and 8.6% to NOK 677 million in Q4; net profit declined 2.8% to NOK 814 million due to Swedish turnaround and prior year one-offs.
Norway outperformed the market, supported by higher footfall and strong seasonal execution, while Sweden showed early positive effects from turnaround efforts but continued to face footfall challenges.
ÖoB's integration and turnaround are progressing, with pilot store remodels showing sales uplift and margin improvement.
Board proposes a dividend per share of NOK 3.75, up 7.1%, with a payout ratio of 75.4%.
Full-year group sales: NOK 14.9 billion (+16.7% YoY, +5.7% organic, constant currency); Q4 sales: NOK 4.6 billion (+5.3%).
Full-year EBIT: NOK 1.3 billion (+6.6%); Q4 EBIT: NOK 677 million (+8.6%).
Net profit for the year fell 2.8% to NOK 814 million, impacted by finance and turnaround costs.
Gross margin for the year was 40.9% (down 0.8pp); Q4 gross margin was 42.6%.
Cash from operations near NOK 1.5 billion; net debt at NOK 858 million (ex-leases); liquidity reserves at NOK 2.1 billion.
Positive consumer sentiment expected in 2026, supported by declining inflation and real wage growth in Norway and Sweden.
ÖoB turnaround progressing, with accelerated store remodelling planned for 2026–2027; significant profit uplift expected in 2028.
Ambition to grow ÖoB sales to SEK 5 billion and achieve a 5% EBIT margin by 2028.
No significant gross margin improvement expected from currency or purchasing price changes; focus remains on operational improvements.
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