Ellos Group (ELLOS) Q4 2025 earnings summary

Executive summary

• Achieved strong growth and significant earnings improvement in 2025, consolidating position as a leading Nordic e-commerce group.

• Net sales for the year reached SEK 3,463.7 million, up over 4% year-over-year (6% at fixed exchange rates).

• Adjusted EBITA improved to SEK 219.0 million with a margin of 6.3% for the year.

• Profit for the year was SEK 33.1 million, with over SEK 100 million when adjusted for acquisition-related amortisations.

• Secured new long-term financing and positioned for a potential Stockholm listing within twelve months.

Financial highlights

• Q4 net sales: SEK 1,010.8 million (up from SEK 997.8 million in Q4 2024).

• Q4 gross profit: SEK 449.7 million, gross margin 44.5% (up from 40.2%).

• Q4 operating profit: SEK 61.1 million, operating margin 6.0% (up from 2.0%).

• Q4 adjusted EBITA: SEK 79.0 million, margin 7.8% (up from 3.4%).

• Full-year adjusted cash flow from operating activities: SEK 172.8 million.

Outlook and guidance

• Entering 2026 with a strong foundation, focus on profitable growth and customer offer improvement.

• Expectation of continued positive consumer confidence despite geopolitical uncertainties.

• Strategic priorities include efficiency, AI-driven initiatives, and sustainability.