Lyko (LYKO-A) Q2 2026 earnings summary

Executive summary

• Achieved 8.6% sales growth in Q2 to SEK 1,021m, surpassing SEK 1 billion in quarterly sales for the first time outside Q4, driven by successful campaigns and new store openings.

• EBIT reached SEK 54m, marking the highest-ever Q2 EBIT, a 71% increase year-over-year, and a margin of 5.3%.

• Own brands grew 23.4% to SEK 88m, contributing significantly to profitability.

• Cost-saving program completed on personnel side, targeting SEK 100m in annual savings by January 2027.

• Strategic investments in logistics, store concepts, and automation enhanced operational efficiency and market position.

Financial highlights

• Net sales rose 8.6% year-over-year to SEK 1,021m; rolling 12-month net sales surpassed SEK 4b.

• Gross margin stable at 43.5%, supported by price discipline and supplier contributions.

• EBIT margin at 5.3%; SEK 54m EBIT, driven by sales growth, gross margin, and cost savings.

• Cash position at SEK 50m at quarter-end; stock levels steady at SEK 537m.

• One-off costs in the quarter totaled SEK 0.5m; rolling 12 months one-off costs at SEK 40m.

Outlook and guidance

• Cost-saving program to deliver SEK 100m in savings by January 2027, with largest effects expected in Q4 and beyond.

• Fully operational automated warehouse expected to support further growth and profitability improvements.

• Marketing spend expected to fluctuate, with a target of up to 10% of revenue.

• Easier sales comps expected in Q3 due to prior year logistics issues; tougher comps in Q4.

• Continued focus on profitable growth, maintaining a strong balance sheet, and growth in community, own brands, and the Nordics.