Nobia (NOBI) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 1% to SEK 1,275m, while organic growth was -1%; adjusted operating profit fell to SEK 47m from SEK 69m.

• Transformation aims to align the operating model and cost base with Nordic demand; strong brands and customer relationships support the strategy, but profitability remains pressured.

• Prior-year comparisons include substantial UK discontinued-operation losses and a SEK 750m impairment; UK operations were divested in March 2026.

Financial highlights

• Q3 net sales were SEK 1,275m vs SEK 1,262m; positive currency effects supported sales as organic growth was -1%, mainly due to Finland restructuring.

• Adjusted gross margin rose to 37.9% from 36.8%, supported by higher average order values and lower production costs.

• Adjusted operating profit fell to SEK 47m from SEK 69m, with margin down to 3.7% from 5.5%; inflation, volume and mix effects, and brand and marketing investment weighed on results.

• Operating profit was SEK 14m vs SEK -211m; profit after tax from total operations was SEK -53m vs SEK -1,922m.

• Items affecting comparability were SEK -33m, mainly related to transferring production from Tidaholm to Park.

Outlook and guidance

• The new Nordic organisation is expected to deliver SEK 150m in annual run-rate savings from Q4 2027, with initial effects from Q4 2026.

• Finland’s transformation is expected to be completed during 2027; changes will weigh on sales in H1, with improvement expected in H2 as loss-making Novart winds down and HTH investment supports a replacement model.

• The Nordic supply-chain assessment is ongoing, with an updated roadmap expected early 2027; review includes the Park ramp-up and broader network.

• Items affecting comparability are expected at a similar level in Q4; the broader assessment will address temporary supply-chain transition costs.