Europris (EPR) Q3 2025 earnings summary

Executive summary

• Achieved Q3 sales of NOK 3.5 billion, up 9% year-over-year, with strong growth in Norway and modest improvement in Sweden, driven by favorable market conditions and effective campaigns.

• Group EBIT increased by 52.8% to NOK 256 million, and net profit to parent rose to NOK 154 million.

• Norway segment outperformed the market, with sales up 11.6% and EBIT up 37.8%, driven by higher footfall, increased basket size, and successful campaigns.

• Sweden segment showed early positive results from store remodelling, with plans to accelerate the programme in 2026–2027; significant turnaround expected after large-scale remodeling.

• Appointment of Anders Lorentzson as new CEO of ÖoB to lead the Swedish turnaround.

Financial highlights

• Group Q3 sales: NOK 3.5 billion (+9% YoY); EBIT: NOK 256 million (+52.8% YoY); net profit to parent: NOK 154 million (+NOK 70 million YoY).

• Norway Q3 sales: NOK 2.5 billion (+11.6% YoY); EBIT: NOK 293 million (+37.8% YoY); like-for-like growth: 10.7%.

• Sweden Q3 sales: NOK 1 billion (+3.1% YoY); EBIT loss: NOK 37 million (improved from NOK 45 million loss YoY); like-for-like sales up 0.4% in local currency.

• Gross margin for the group: 40.7% (+1 percentage point YoY); Norway: 44.6% (+0.9 percentage points YoY); Sweden: 31.1%.

• OpEx-to-sales ratio improved by 0.6 percentage points to 25.9%.

Outlook and guidance

• Q4 expected to be the strongest quarter, with positive consumer sentiment supported by lower interest rates and real wage growth.

• Major focus on Sweden store remodeling, with 40–45 stores to be remodeled annually in 2026–2027; initial negative financial impact expected.

• Financial results in Sweden expected to be flat in 2026, with significant profit uplift anticipated from 2027 and major gains in 2028.

• Long-term target: Sweden sales of SEK 5 billion and 5% EBIT margin by end of 2028.