Humble Group (HUMBLE) investor relations material

Executive summary

• Organic sales growth reached 6% in Q4 2025, with total net sales of MSEK 2,118 and gross profit in line with last year, despite negative currency impacts.

• Transformation efforts accelerated, focusing on operational discipline, performance-driven culture, and capital allocation.

• Strong cash generation and reduction in net debt, with leverage ratio reduced to 2.6x (FX-adjusted 2.4x).

• Adjusted EBITA for Q4 was MSEK 139 (margin 6.5%), down 2% year-over-year.

• Full-year net sales totaled MSEK 8,097, up 5%, with 7% organic growth.

Financial highlights

• Gross profit for Q4 was MSEK 665, gross margin at 31.4%, slightly down due to currency impacts.

• Cash flow from operations in Q4 was MSEK 206, up 56% year-over-year; full-year cash flow from operations was MSEK 515, up 81%.

• Free cash flow for Q4 was MSEK -167, a decrease from MSEK 95 last year.

• Total debt decreased by MSEK 98 year-over-year; NIBD reduced by MSEK 185.

• Earnings per share before and after dilution were SEK 0.03 for Q4 and SEK 0.04 for the year.

Outlook and guidance

• Efficiency program and cost-saving targets are on track, with effects expected from Q3 2026; annual cost savings of MSEK 80 targeted.

• Continued focus on reducing leverage, maintaining strong cash flow, and potential divestments and partnerships.

• New confectionery site in Skövde to be operational around Q3/Q4 2026, supporting future growth.

• No dividend proposed for the 2025 financial year.

• Early Easter in Q1 2026 expected to impact working capital seasonally.