Systembolaget (SB) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 increased by 0.4% year-over-year to 10,564 MSEK, driven by higher deposit and price levels despite lower volumes.

• Operating profit rose to 102 MSEK from 54 MSEK, reflecting improved gross profit and cost adjustments.

• Net profit for the quarter was 96 MSEK, more than doubling from 46 MSEK a year earlier.

• Customer satisfaction (NKI) reached 82.2, and age control compliance hit a record 98.9%.

• Strategic focus included efficiency measures, sustainability, and responsible retailing.

Financial highlights

• Q2 2026 revenue: 10,564 MSEK (up 0.4% YoY); H1 2026 revenue: 18,589 MSEK (up 0.8% YoY).

• Q2 operating profit: 102 MSEK (up 88.9% YoY); H1 operating loss: -53 MSEK (improved from -133 MSEK YoY).

• Q2 net profit: 96 MSEK (up 108.7% YoY); H1 net loss: -41 MSEK (improved from -102 MSEK YoY).

• Cash flow from operations in Q2: 1,284 MSEK (down from 1,410 MSEK YoY).

• Gross profit for Q2: 1,334 MSEK (up from 1,284 MSEK YoY).

Outlook and guidance

• Cost efficiency and ongoing adaptation to lower volume trends remain priorities.

• Continued focus on sustainability, digital service improvements, and responsible alcohol retailing.