Nobia (NOBI) Q2 2026 earnings summary

Executive summary

• Leadership transition with Jesper Gylling Olsen appointed CEO in June 2026, focusing on operational improvement and long-term value creation.

• The Nordic kitchen market remains volatile and challenging, with low demand and cautious consumer behavior, though some stabilization is observed.

• Strategic focus on restoring customer trust, operational excellence, and profitability.

• UK operations divested in March 2026 and now reported as discontinued operations.

Financial highlights

• Net sales for Q2 2026 were SEK 1,498m, down 1% year-over-year, with organic growth at -1%.

• Adjusted gross margin improved to 39.8% (from 36.7%), and adjusted EBIT rose to SEK 128m (8.5% margin) from SEK 88m (5.8% margin).

• Cash flow from operating activities was SEK 129m, down from SEK 236m year-over-year.

• Profit after tax for total operations was SEK 4m (compared to -103m), with EPS after dilution at SEK 0.03 (-1.09).

Outlook and guidance

• No stable market rebound expected soon, but signs of stabilization are emerging; focus remains on cost control, margin recovery, and operational reset.

• Targeted annual cost savings of SEK 80m by end of 2026, with SEK 10m realized in Q2.

• Remaining investments in Nobia Park estimated at SEK 70m for 2026.

• Continued investment in store refurbishment and production capacity to support future growth.