Ellos Group (ELLOS) Q1 2026 earnings summary

Executive summary

• Net sales rose 3.7% year-over-year to SEK 831.4 million, with organic growth of 5.3% driven by strong demand in both Fashion and Home segments across all e-commerce platforms.

• Adjusted EBITA increased to SEK 34.0 million (up 5.6%), with a margin of 4.1%, while reported EBIT fell to SEK 3.3 million due to non-recurring listing and acquisition costs.

• Gross margin improved by 2.5 percentage points to 43.7%, reflecting better pricing, discount management, and lower inventory obsolescence.

• Profit for the period was SEK -19.7 million, impacted by higher operating and non-recurring costs.

Financial highlights

• Net sales: SEK 831.4 million (up 3.7% year-over-year).

• Adjusted EBITA: SEK 34.0 million (margin 4.1%).

• Gross profit: SEK 363.6 million (margin 43.7%).

• Operating profit (EBIT): SEK 3.3 million (margin 0.4%).

• Profit/loss for the period: SEK -19.7 million.

• Adjusted cash flow from operating activities: SEK -52.1 million.

Outlook and guidance

• Management remains confident in the strategy despite macroeconomic and geopolitical uncertainties, emphasizing a strong financial position and continued focus on profitable growth.

• New financial targets: organic net sales growth in line with or above the market, adjusted EBITA margin above 8% medium-term, and net debt/adjusted EBITDA below 2.0x.

• Dividend policy: excess liquidity to be distributed after investments and if capital structure targets are met.