FINANCIAL INFORMATION:
SECOND QUARTER
- Net sales grew by 1% and amounted to MSEK 2,004 (1,983). The change is attributable to organic growth of 1.1%, acquisitions and divestments of 0% and currency impact of - 0.1%.
- EBITA amounted to MSEK 120 (120). Currency impact was MSEK 1. Gain from divestments was MSEK 6 (0). Revaluation of earn-outs and acquisition-related expenses amounted to MSEK -8.
- EBIT amounted to MSEK -523 (71). Impairment of goodwill and other intangible assets in Sustainable Care impacted EBIT with MSEK -600 (0). Currency impact was MSEK 1.
- Cash flow from operating activities amounted to MSEK 34 (44).
- Profit and loss after tax amounted to MSEK -573 (5), and MSEK 27 (5) excluding impact from impairment of intangible assets.
- Earnings per share before and after dilution amounted to SEK -1.27 (0.01), and 0.06 (0.01) excluding impact from impairment of intangible assets.
SIX MONTHS
- Net sales grew by 3% and amounted to MSEK 3,998 (3,886). The change is attributable to organic growth of 4.7%, acquisitions and divestments of -0.8% and currency impact of -1.8%.
- EBITA amounted to MSEK 236 (235). Currency impact was MSEK -5. Result from divestment of operations was MSEK 0 (0). Revaluation of earn-outs and acquisition-related expenses amounted to MSEK -8.
- EBIT amounted to MSEK -453 (141). Impairment of goodwill and other intangible assets in Sustainable Care impacted EBIT with MSEK -600 (0). Currency impact was MSEK -3.
- Cash flow from operating activities amounted to MSEK 148 (114). Cash flow from operating activities includes repayment of tax deferrals of MSEK -44 (-45).
- Profit and loss after tax amounted to MSEK -545 (17), and MSEK 55 (17) excluding impact from impairment of intangible assets.
- Earnings per share before and after dilution amounted to SEK -1.20 (0.04), and 0.12 (0.04) excluding impact from impairment of intangible assets.
SIGNIFICANT EVENTS:
DURING THE QUARTER
- On April 15, Humble announced completeness of the strategic acquisitions of Jutexpo in the UK and divestments of Performance.R.us and Limitless Brands. These divestments form part of the strategic review communicated in September 2025.
- On April 22, Humble entered into new credit facility agreement. The new facilities consist of a term loan of MSEK 1,300 and a revolving credit facility of MSEK 700.
- Humble performed an updated valuation of goodwill and other intangible assets attributable to the Sustainable Care business area, resulting in a non-cash impairment of MSEK -600. See more in Note 11.
AFTER THE QUARTER
- On July 14, Humble announced the divestment of Fancystage. This divestment forms part of the strategic review communicated in September 2025. See more in Note 10.
CEO COMMENT FROM THE REPORT
"The second quarter was characterized by a continued high pace of implementation and several important steps in the development within Humble Group. Net sales amounted to MSEK 2,004, corresponding to organic growth of 1 percent. Despite a continued challenging macroeconomic climate and disruptions in the global supply chains for some of the Group's largest companies, the Group's diversified portfolio contributed to limiting the effects, while demand for our products remained stable. During the quarter, the implementation of the strategic and operational initiatives initiated over the past year continued. We see positive effects of the work but are not satisfied with the Group's profitability. Therefore, we continue with undiminished strength to strengthen margins, improve efficiency and build a stronger Humble Group.
FINANCIAL PERFORMANCE
Net sales increased during the quarter to MSEK 2,004 (1,983), corresponding to organic growth of 1 percent excluding currency effects. Gross profit amounted to MSEK 636 (630), corresponding to a gross margin of 31.7 percent (31.7). The stable gross margin reflects the strength of our well-balanced portfolio and the Group's ability to manage disruptions and increased volatility in the supply chain.
EBITA amounted to MSEK 120 (120). We are not satisfied with the reported profitability in the quarter. At the same time, we note that most of our operations are developing well, while the Group's overall performance continues to be affected by challenges in Privab and in the UK operations. The reported EBITA figure includes a positive capital gain of MSEK 6 (0) attributable to the divestments of Performance R Us and Limitless Brands, as well as acquisition-related costs and revaluation of additional purchase considerations totalling MSEK -8.
Our leverage ratio at the end of the quarter was 2.8x adjusted EBITDA, compared to 2.5x in the previous quarter. The increase is primarily attributable to continued investments in the new confectionery factory (+0.1x), the acquisition of Jutexpo (+0.1x) and seasonal effects in working capital (+0.2x) and reflects the strategic priorities we have implemented during the quarter to enable future value creation. We continue to see good prospects for a gradual reduction in debt leverage as investments are completed, profitability strengthens and cash flow normalizes.
THE DEVELOPMENT OF OUR FOUR SEGMENTS
Future Snacking continues to develop stabile and sales increase to MSEK 345 (333), corresponding to organic growth of 7 percent. We see continued good demand for our products within the segment and we look forward to deploy the new confectionery factory later this year, which will increase our production capacity and create good conditions for continued growth within the segment.
Sustainable Care reported sales of MSEK 499 (508), corresponding to an organic change of -4 percent. The segment's sales and profitability continued to be affected by a challenging market situation in the UK, where we note effects from a cautious consumer and increased price pressure in the grocery trade. During the quarter, we completed the acquisition of Jutexpo, which broadens Solent's customer offering and creates good conditions for accelerating both growth and profitability going forward.
Quality Nutrition sales grew to MSEK 417 (405), an organic growth of 5 percent. We note that the continued high volatility in market prices for whey protein is expected to put some pressure on profitability in the segment in the coming months. At the same time, high demand and strong capacity utilization in production remain, which provides good conditions to gradually counteract the effects of the prevailing raw material market.
Sales in Nordic Distribution grew to MSEK 791 (789) but recorded an organic change of -1 percent. We managed to maintain sales despite tough comparative figures as Easter fell early this year in relation to the comparison quarter, and profitability in the segment strengthened linked to a favourable product mix.
OUTLOOK AND FOCUS AHEAD
The past quarter marks an important step in Humble Group's continued development towards a more focused, profitable and scalable group. Increasing profitability remains our top priority, and we see that our cost-savings program is having an effect. Several businesses have strengthened their underlying earnings and established a stronger core business. At the same time, external factors and delayed deliveries in some of the Group's largest companies have affected the overall performance during the quarter.
The strategic review that we initiated in 2025 continues to develop Humble Group in the right direction. The divestment of Fancystage, which was announced earlier this week, is a natural next step in the work to streamline the portfolio and focus capital, management work and investments on the businesses where we see the greatest long-term potential. In connection with this, we have recognised a non-cash goodwill impairment that better reflects our future portfolio and the long-term conditions for the business.
In parallel, we continue to invest in future growth. Our new confectionery factory in Skövde is approaching the start of production and will be an important platform for the Group's continued development. During the quarter, we also entered a long-term collaboration with Vitamin Well-owned Barebells on the launch of a new sugar-reduced confectionery concept on the American market - a clear testament to the innovative power and production expertise that exists within Humble Group.
Humble Group is stronger today than it was a year ago, with a more focused portfolio, a stronger financial platform and a clearer strategic direction. Anders Fredriksson will take over as CEO of Humble Group on September 14. Anders brings solid experience from the FMCG industry, strong structural capital and a long-term perspective that I am convinced will contribute to the next phase of Humble Group's development.
At the same time, I look forward to continuing to contribute in the long-term perspective as one of the larger shareholders, board member and in a continued operational role. The strategic review continues with high activity, and we continue to evaluate both potential divestments and complementary acquisitions. Over the past year, we have laid the foundation for the next chapter in Humble Group's development, and I am convinced that the best is still ahead of us." says Noel Abdayem, Acting CEO.
The report is attached and can also be downloaded in its entirety on the company's website.
For further information, please contact:
Noel Abdayem, acting CEO
E-post: noel.abdayem@humblegroup.se
About Humble Group
Humble Group is a corporate group specializing in driving value and accelerating growth in small and medium-sized companies within the fast-moving consumer goods (FMCG) sector. Through an entrepreneurial approach and active ownership, Humble Group focuses on transforming its businesses to align with the future needs of consumers. The company manages a portfolio of brands, a global distribution network, and production facilities where its subsidiaries operate autonomously within their respective business areas, while Humble Group provides strategic guidance and support. The group is headquartered in Stockholm. For more information visit www.humblegroup.com
Humble is listed on Nasdaq Stockholm Mid Cap, under the ticker HUMBLE.
This information is information that Humble Group is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-07-17 08:00 CEST.
