The fourth quarter (1 October 2025 - 31 December 2025)
- The Group's net revenue in SEK increased by 0.6 percent during the quarter to SEK 150.6 million (SEK 149.6 million). In local currencies, the increase was 8 percent.
- The gross margin was in line with the previous year at 62.7 percent (62.8 percent), while gross profit amounted to SEK 94.4 million (SEK 93.9 million).
- Operating profit improved to SEK 3.7 million (SEK 1.0 million).
- Profit for the period after tax improved to SEK 2.0 million (SEK 1.9 million), corresponding to SEK 0.33 (SEK 0.31) per share*.
- Cash flow from operating activities amounted to SEK 8.6 million (SEK 11.2 million).
Twelve months (1 January 2025 - 31 December 2025)
- The Group's net revenue in SEK increased by 4.7 percent for the full year to SEK 576.4 million (SEK 550.3 million). In local currencies, the increase was 9.6 percent.
- The gross margin decreased to 64.3 percent (64.5 percent), and gross profit amounted to SEK 370.4 million (SEK 354.7 million).
- Operating profit improved to SEK 15.1 million (SEK -4.4 million).
- Profit for the period after tax improved to SEK 8.2 million (SEK -7.7 million), corresponding to SEK 1.32 (SEK -1.24) per share*.
- Cash flow from operating activities amounted to SEK 8.4 million (SEK -5.4 million).
* There are no dilution effects
COMMENTS BY KARL KRISTIAN BERGMAN JENSEN
Record revenue and improved profitability during the fourth quarter and full year 2025.
New Nordic continued to grow during the fourth quarter and for the full year as a whole. Growth was driven primarily by successful product launches.
During the period, growth amounted to just under 5 percent in Swedish kronor and close to 10 percent in local currencies. We achieved record revenue both for the quarter and for the year.
We saw particularly strong growth in Europe. The Swedish krona strengthened during the year against most currencies. Measured in local currencies over the full year, we also recorded modest growth in the Nordic region and North America.
Our gross margin increased by SEK 15.7 million, and we reduced costs by SEK 3.7 million. This resulted in an increase in EBITDA of SEK 19.4 million for the year and a profit after tax of SEK 8.2 million. The result is small relative to our revenue, but it represents a clear improvement compared with 2024, and I expect further improvements during 2026.
Among notable events in 2025 was the development of a new and more user-friendly webshop, which will be launched in the United Kingdom in February 2026 (www.newnordic.co.uk) and subsequently rolled out to an additional 24 countries during 2026.
We also accelerated our product development in 2025, resulting in several successful product launches within our Magic Magnesium, Active Liver, and Quality Sleep ranges during the year.
In Q1 2026, these products will be launched internationally. In addition, during the first half of 2026 we will introduce new and exciting longevity supplements, including products containing ergothioneine and creatine. We are expanding the Hair Volume range with Mega Strength variants and are also launching GLP-1-related products featuring berberine, probiotics, and dietary fiber.
On the cosmetics side, we have also carried out a development program for both hair and skincare products, which will strengthen our offering in 2026 and 2027.
We have intensified our export efforts by seeking new distributors in selected countries. We expect these efforts to bear fruit in 2026, when we plan to commence operations in Mexico, South Korea, Chile, and Turkey.
During 2025, we worked systematically to develop several of our proprietary extracts used in New Nordic products. In 2026, we will also begin selling some of these extracts to other dietary supplement companies worldwide under the name New Nordic Extracts. We are currently negotiating with several customers and expect the first extract sales in Q2 2026 to companies in France and Thailand. New Nordic Extracts is developed and marketed by New Nordic AG in Switzerland. Our current focus is on the apple extracts Annurcasol®, Fermannurca®, and Red Core®, as well as Milliazinol® millet oil and Pinasterol® French maritime pine bark extract.
The Nordics
We recorded solid growth in Denmark, unchanged performance in Norway, and declines in Sweden and Finland. The year was marked by the bankruptcy of the health food retail chain Life in Sweden. This affected sales in Sweden, Norway, and Finland, and we experienced customer losses in Sweden. We expect to increase sales in all Nordic countries through the launch of our new products. Sales by our distributors in Iceland are also developing positively.
Europe
We achieved strong growth in the United Kingdom, Ireland, Germany, and the Baltic countries, driven by new products and expanded distribution. In 2025, we focused in particular on strengthening our cooperation with both Holland & Barrett and Boots in the United Kingdom, which we expect will yield further results in 2026.
In the Benelux region, we saw a slight decline, mainly as a result of taking over sales in Belgium after terminating the agreement with our distributor and subsequently establishing new agreements with both large and small retailers. Italy and Poland remained largely unchanged, measured in local currencies.
We saw a slight decrease in deliveries to our distributor in France, but we consider this to be temporary, as sales of New Nordic products to French pharmacies increased during 2025. We maintain a strong focus on continued growth across all European markets in 2026.
North America
Measured in local currencies, we achieved overall growth in North America. In Canada, consumer confidence and willingness to purchase were subdued, reflecting that households were more cautious in 2025 than in 2024 amid uncertainty and economic concerns. As a result, we were also cautious with our marketing efforts, which led to a slight decline in sales. We expect this situation to change in 2026, as we have several new product launches and are expanding our cooperation, particularly with Costco and Walmart.
In the United States, sales increased, and we achieved solid growth. We expect continued growth in 2026, with several new product launches and listings at CVS and other pharmacy chains during the year.
The rest of the World
Sales in Vietnam through our distributor were very strong in 2025. We continue product registrations to broaden our range, but the health authorities in Vietnam effectively suspended new dietary supplement registrations in 2025. We hope this will change in 2026.
Our cross-border distributor in China performed well for New Nordic in 2025, and consumer sales increased. In 2026, they will increase their marketing investments and launch new New Nordic products.
In Hong Kong, we have had very limited revenue in the years following COVID-19. Market conditions remain challenging, and we are maintaining a low level of activity in the hope that conditions will improve.
Investment markets
Sales in Australia increased in 2025, and we established cooperation with an additional pharmacy wholesaler. In the second half of 2025, we worked with Chemist Warehouse to launch New Nordic in their webshop, which we expect to take place at the end of Q1 2026. Sales in Spain and Switzerland also increased in 2025.
Financial and Strategic Outlook
The results for the fourth quarter and the full year are positive but still below our ambition. In recent years, we have implemented extensive improvements across our markets, strengthening our platform and future prospects.
The global market is highly dynamic. We are well positioned and flexible in managing challenges and capturing new opportunities. In terms of innovation, we remain at the forefront globally. Each market has its own conditions, and we adapt our strategies locally to prevailing market circumstances.
The gross margin decreased marginally during the year, but we remain focused on strengthening it. A significant part of our success in Europe-particularly in the United Kingdom-comes from pricing certain new products in highly competitive categories. This has had a negative impact on the gross margin, but it has also enabled strong sales with limited marketing costs.
Cost control has been solid, with costs reduced during the year despite increased revenue. Sales per employee totaled more than SEK 8 million in 2025. During the year, we also reduced inventory levels by more than SEK 2 million, which we view as a positive outcome amid increased activity.
Positioned for long-term growth.
The long-term market trend remains positive. An increasing number of people worldwide are consuming dietary supplements-a development we believe will continue for many years to come.
Our growth strategy focuses on profitable expansion by strengthening our position in existing markets. We plan to continue increasing sales of our most successful products, enhance brand visibility, and expand distribution.
Additionally, we focus on product innovation within growing categories and on enlarging our product portfolio. With our well-established sales and marketing network in Europe, North America, China, Vietnam, Hong Kong, and Australia, along with our own e-commerce presence in 24 countries, New Nordic is well positioned for sustained growth.
With our expertise in herbs, global presence, and rapid product development, we are well placed to lead innovation in the dietary supplement industry and grow alongside our trading partners. Innovation will continue to be a central driver of our growth.
The entire international New Nordic team delivered an impressive effort during the fourth quarter. We share a strong passion for our business and work together toward common goals. I look forward to continued positive development and to strengthening the earnings per share.
Karl Kristian Bergman Jensen
Malmö, February 27, 2026
The information in this press release is that which New Nordic Healthbrands AB (publ) is required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:00 (CET) on 27 February 2026.
Link to report on New Nordic's investor relation web page: https://newnordicinvestor.com/reports-and-presentations
Contact:
Karl Kristian Bergman Jensen, CEO, telephone +46 40-236414, e-mail kk@newnordic.com.
Ivan Ruscic, CFO, telephone +46 40-236414, e-mail ivan@newnordic.se
New Nordic Healthbrands AB (publ), SE-215 32 Malmö, Sweden. Org. nr. 556698-0453.
Certified advisor: Mangold Fondkommission AB. +46 8 503 01 550, ca@mangold.se.
New Nordic Healthbrands AB (publ) was founded in 1990 and is listed on Nasdaq First North Growth Market Sweden since 2007. The company's business concept is to offer the most effective and safe dietary supplements, natural medicines and cosmetic products for specific health and beauty needs. All with care for people and nature. New Nordic products are now available in 44 countries in pharmacies, health stores, beauty shops, and travel retail. New Nordic has its own small sales and marketing companies in most European countries, Canada and the United States, China, Hong Kong, and Australia to organise local marketing campaigns, serve retailers and serve end customers. In 2025, revenues were SEK 576 million. Most New Nordic products sold worldwide are manufactured in Scandinavia. For more information, visit www.newnordicinvestor.com og www.newnordic.com.
