Kjell Group (KJELL) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 were SEK 590.9 million, a 5.4% year-over-year decrease, with a net loss of SEK 344.5 million due to significant one-time write-downs and impairments.

• Nine-month net sales were SEK 1,681.9 million, down 7.1% year-over-year.

• Major restructuring initiatives include a comprehensive product range review, supplier renegotiations, workforce adjustments, and a new central warehouse.

• Leadership changes include Sandra Gadd as CEO and Fredrick Sjöholm as CFO.

Financial highlights

• Adjusted EBITA for Q3 was SEK 16.7 million (margin 2.8%), down from 21.0 million (margin 3.4%).

• Items affecting comparability totaled SEK 81.1 million, mainly due to inventory and intangible asset write-downs.

• Net profit for Q3 was SEK -344.5 million; Jan–Sep: SEK -386.1 million.

• Cash flow from operating activities improved to SEK 103.2 million from -136 million, driven by lower inventory and higher payables.

• Equity ratio at quarter-end was 39.0%.

Outlook and guidance

• Transformation journey focuses on reversing sales decline, improving margins, and clarifying core business identity.

• Too early to quantify the impact of ongoing initiatives; guidance expected in the next quarterly report.