Online Brands Nordic (OBAB) Q1 2026 earnings summary

Executive summary

• Net sales rose 34% year-over-year to 129.7 MSEK for Q1 2026, with organic growth at 12.9%.

• EBITA improved to 5.5 MSEK (4.2% margin), up from 0.6 MSEK (0.6%) last year, driven by higher volumes and cost efficiency.

• Own e-commerce sales increased 29% to 109.4 MSEK, reflecting a strategic focus on direct channels.

• Integration of recent acquisitions (GetCamping, Reforma, Tanrevel) contributed to growth and operational synergies.

• The quarter's net result was -3.1 MSEK, unchanged EPS at -0.12 SEK.

Financial highlights

• Gross profit reached 80.3 MSEK (61.9% margin), up from 60.4 MSEK (61.8%) year-over-year.

• Operating expenses were -58.8 MSEK, with 10.2 MSEK from acquired companies.

• Cash flow from operations was -15.5 MSEK, reflecting seasonal working capital build-up.

• Net debt at period end was 35.9 MSEK, up from 23.0 MSEK last year.

• Liquidity improved to 20.5 MSEK (9.8 MSEK last year).

Outlook and guidance

• No formal sales or earnings guidance for 2026 was provided.

• Management expects continued profitable growth, with strengthened structure and improved efficiency supporting future performance.

• Cash flow is expected to improve over the year as seasonal effects reverse.