Synsam Group (SYNSAM) Q1 2026 earnings summary

Executive summary

• Net revenue rose 3.8% year-over-year to SEK 1,773 million, with organic growth of 5.6% and like-for-like growth of 3.8%.

• Profit after tax increased by 51% to SEK 131 million, and EPS rose to SEK 0.92 from SEK 0.60.

• EBIT improved to SEK 186 million (up 7.4%), with an EBIT margin of 10.4% (up from 10.0%).

• Strong cash flow from operations at SEK 374 million, up from SEK 310 million.

• Strategic partnership with Erling Haaland announced, including a new eyewear collection and e-commerce expansion in Europe.

Financial highlights

• Gross margin improved to 75.8% (from 74.1%).

• EBITDA reached SEK 400 million (up from SEK 375 million), with an EBITDA margin of 22.2%.

• Net debt at period end was SEK 2,864 million, down from SEK 2,944 million a year earlier.

• Cash flow from operations before working capital changes rose to SEK 349 million (from SEK 242 million).

• Investments totaled SEK 82 million, mainly in maintenance and expansion.

Outlook and guidance

• Medium-term targets: annual organic growth of 8–12%, EBIT margin of 12–15%, investments at 3% of net sales, net debt/EBITDA at 2.5x, and dividend payout of 40–60% of net profit.

• Dividend of SEK 1.80 per share approved for 2026.

• Continued focus on profitable growth, margin expansion, and scalable business model.

• Ongoing expansion of the Synsam Lifestyle subscription model and new store openings.