Humble Group (HUMBLE) Q1 2026 earnings summary

Executive summary

• Net sales reached MSEK 1,994 (up 5% year-over-year), with 8% organic growth driven by Future Snacking and Quality Nutrition, and stable demand across core segments.

• Strategic review and portfolio optimization continued, including acquisitions (M. Willumsen, Jutexpo) and divestments (PRU, Limitless Brands, LEV stores) to streamline operations.

• Gross profit increased to MSEK 630, but gross margin declined to 31.6% due to currency effects and product mix.

• Cash flow from operations after working capital changes rose 63% to MSEK 114, with cash conversion improving to 73%.

• New Group CEO, Anders Fredriksson, to start in September 2026, bringing strong FMCG experience.

Financial highlights

• Net sales: MSEK 1,994 (up 5% year-over-year); organic growth 8%, currency impact -3%.

• Gross profit: MSEK 630, gross margin 31.6% (down 0.7pp year-over-year).

• EBITA: MSEK 116 (up 1% year-over-year); EBIT: MSEK 70 (flat year-over-year).

• Cash flow from operations: MSEK 114 (up 63%).

• Earnings per share: SEK 0.06 (up from SEK 0.03).

Outlook and guidance

• Management expects gradual improvement in profitability, cash flow, and further reduction in net debt and leverage throughout 2026.

• Gross margin improvement is a key priority, with ongoing initiatives to optimize cost of goods and pricing.

• Expect volatility in whey protein prices and input costs to challenge profitability in coming months.

• CapEx for new facilities expected to continue in Q2 and Q3, with no major new initiatives planned beyond maintenance.

• Strategic focus remains on operational discipline and capital allocation to enhance shareholder value.