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Synsam Group (SYNSAM) investor relations material
Synsam Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary18 Nov, 2025
Executive summary
Achieved strong sales and EBIT growth in Q3 2025, with organic growth of 12.4% and like-for-like growth of 9.1% in a cautious consumer market; Sweden and Denmark showed notable resilience, and Finland gained significant market share.
Net sales rose 11.0% year-over-year to SEK 1,731 million in Q3; profit after tax nearly doubled to SEK 130 million, and earnings per share before and after dilution rose to 0.90 SEK from 0.44 SEK.
Both Synsam Lifestyle and net sales cash businesses posted double-digit growth, with continued expansion including three new stores in Q3 and 19 new stores in the first nine months.
Denmark delivered a healthy beat on both revenue and profit, compensating for regulatory headwinds with growth in cash business and maintaining a 14.8% EBIT margin.
Continued focus on the 'best in town' strategy, improving store network, assortment, and customer offering across all markets.
Financial highlights
Q3 net sales: SEK 1,731 million (up 11.0%); organic growth 12.4%; gross margin 73.1% (down from 73.9%).
Q3 EBIT: SEK 207 million (up 10.6%), EBIT margin 11.8%; EBITDA: SEK 418 million (up 9.8%), EBITDA margin 23.9%.
Sweden posted organic growth of 15.1% in Q3, maintaining high growth rates year-over-year.
Denmark's EBIT margin reached 14.8% in Q3, reflecting operational improvements despite regulatory impacts.
Cash flow from operating activities before changes in working capital rose to 329 MSEK (298 MSEK last year).
Outlook and guidance
Group maintains an 8-12% organic growth target medium term, with Sweden expected to remain close to this range; medium-term EBIT margin target is 12-15%.
Denmark is expected to recover and potentially return to positive growth in 2026, contingent on market conditions.
Management expects continued market uncertainty and increased competition in Q4, but long-term demand for optical retail and eye health in the Nordics remains strong.
No significant changes anticipated in credit legislation across the Nordics for 2026.
Denmark Lifestyle subscription recovery plan
New ventures' path to financial targets
Gross margin strategy for new EBIT target
Strategy to sustain growth in weak market
Smart glasses uptake and prescription mix
Denmark margin improvement drivers long term
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Next Synsam Group earnings date
Q4 202520 Feb, 2026
Next Synsam Group earnings date
Q4 202520 Feb, 2026
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Frequently asked questions
Synsam Group is a Nordic optical retail company offering prescription eyewear, contact lenses, sunglasses, and eye health services. The company operates physical stores and an online platform, providing optician services and subscription models for eyewear. Synsam serves customers primarily in Sweden, Norway, Denmark, and Finland. The company is headquartered in Stockholm, Sweden, and its shares are listed on the OMXSTO.
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