New Nordic Healthbrands (NNH) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 decreased by 7.9% to SEK 132.5 million compared to the same quarter last year; in local currencies, the decline was 1%.

• Gross margin fell to 62.4% from 64.6%, with gross profit at SEK 82.7 million.

• Operating profit dropped to SEK -1.5 million from SEK 4.9 million, and net loss after tax was SEK -2.9 million (SEK -0.46 per share).

• Cash flow from operating activities was negative at SEK -10.9 million, compared to SEK -6.3 million last year.

• Sales declines were most pronounced in North America and the UK, while the Nordic region and Rest of World saw growth.

Financial highlights

• Net sales: SEK 132.5 million (down 7.9% year-over-year).

• Gross profit: SEK 82.7 million (down 10.1% year-over-year).

• EBITDA: SEK -0.9 million (down from SEK 5.5 million).

• Operating profit (EBIT): SEK -1.5 million (down from SEK 4.9 million).

• Net loss after tax: SEK -2.9 million (down from SEK 2.7 million profit).

• Cash flow from operating activities: SEK -10.9 million (down from SEK -6.3 million).

• Equity ratio: 38.6% (down from 40.0%).

Outlook and guidance

• Gross margin is expected to improve in Q2 2026.

• Positive outlook for the Nordic region (except Norway) and Rest of World, with new product launches planned.

• Strong product pipeline and continued investments in marketing are expected to support growth in North America and Europe.

• Focus remains on organic growth, operational efficiency, and increasing earnings per share.