Desenio Group (DSNO) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 decreased by 12.0% year-over-year to SEK 181.4 million, reflecting ongoing macroeconomic headwinds and strategic restructuring efforts.

• Adjusted EBITA margin declined to 8.0% from 10.4% in Q1 2025, with operating profit (EBIT) improving to SEK 13.9 million from a loss of SEK -6.9 million.

• Cash flow from operating activities improved to SEK -7.2 million from SEK -35.6 million in the prior year period.

• Strategic turnaround initiatives are underway, with the Desenio brand showing resilience and North American operations returning to double-digit profitable growth.

• Launch of a proprietary integrated Order Management System (OMS) enhances operational efficiency and vertical integration.

Financial highlights

• Net sales: SEK 181.4 million, down 12.0% year-over-year.

• Gross margin: 84.4%, up from 83.7% in Q1 2025.

• Adjusted EBITA: SEK 14.6 million (Q1 2025: SEK 21.5 million); margin 8.0% (Q1 2025: 10.4%).

• Operating profit (EBIT): SEK 13.9 million, up from SEK -6.9 million.

• Earnings per share: SEK -0.00 (Q1 2025: SEK -0.04).

• Net debt: SEK 297.0 million as of March 31, 2026.

Outlook and guidance

• Guidance for 2026 is reiterated: expectation to return to growth with EBITDA margin in the low double digits at fixed currency rates.

• High expectations for the impact of operational improvements and OMS rollout on agility and profitability for the remainder of the year.