Kjell Group (KJELL) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 8.1% to SEK 639.0m; comparable growth was 6.2%, with positive development across markets and channels.

• Adjusted EBITA more than doubled to SEK 40.0m from SEK 16.7m, with a 6.3% margin, supported by higher sales and efficiency measures.

• Q3 gross margin was 41.8%; Q3 2025 included a SEK 74.2m inventory write-down, and normalized prior-year margin was 41.6%.

Financial highlights

• Q3 gross profit was SEK 267.3m vs SEK 171.7m; operating profit was SEK 35.5m vs a loss of SEK 340.2m, and net profit was SEK 28.8m vs a loss of SEK 344.5m.

• Adjusted EBITA margin was 6.3% vs 2.8%; basic EPS was SEK 0.30 vs a loss of SEK 5.82.

• Jan-Sep net sales rose 1.1% to SEK 1,700.6m; gross profit increased to SEK 734.8m from SEK 631.4m and adjusted EBITA to SEK 31.7m from SEK 5.2m.

• Jan-Sep operating profit was SEK 5.0m vs a loss of SEK 366.4m; net loss narrowed to SEK 18.6m from SEK 386.1m.

Outlook and guidance

• Financial targets: net sales growth above 5%, adjusted EBITA margin of 6–8%, and net debt/adjusted EBITDA below 2x, excluding IFRS 16 effects.

• Q4 priorities shift from planning and foundation-building to execution and delivery; inventory was built ahead of the year’s most important sales period.

• ERP implementation is planned for H1 2027; assortment and private-label development effects are expected to materialise gradually during 2027.