Achieved 1.3% organic growth in local currencies for Q2 despite a challenging market, negative calendar effects, and currency headwinds.
Net sales in SEK decreased by 4.1% in Q2 to SEK 2,300 million, mainly due to negative currency effects.
Gained market share and completed the strategic acquisition of Cotton Classics, strengthening presence in Central Europe and B2B e-commerce.
Continued investments in sales, marketing, warehouse automation, and IT, impacting short-term earnings but supporting long-term positioning.
Operating profit and net income declined year-over-year, reflecting tough macroeconomic and currency conditions.
Q2 net sales: SEK 2,300 million (down 4.1% year-over-year); organic growth 1.3% in local currencies.
Q2 operating profit: SEK 241 million (down from SEK 301 million); operating margin 10.5% (down from 12.6%).
Q2 net income: SEK 167 million (down from SEK 210 million); EPS: SEK 1.26 (down from SEK 1.59).
Gross profit margin in Q2: 48.0% (down from 49.0%); half-year: 48.9% (down from 49.3%).
Rolling 12-month sales: SEK 9.6 billion; operating margin: 12.8%.
No slowdown in investment planned; focus remains on gaining market share, brand development, and long-term positioning.
Management expects to benefit from increased market share and strategic acquisitions once market conditions improve.
Signs of a potential market turnaround are noted, but timing remains uncertain due to global and tariff-related uncertainties.
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