Nordic transformation
Third quarter summary:
- Net sales increased to SEK 1,275m (1,262), corresponding to an organic decrease of less than -1% (1).
- Operating profit increased to SEK 14m (-211).
- Adjusted operating profit decreased to SEK 47m (69).
- Adjusted gross margin increased to 37.9% (36.8).
- Items affecting comparability (IAC) amounted to SEK -33m (-280), primarily related to the transfer of production in Sweden from Tidaholm to Nobia Park in Jönköping.
- Profit after tax, total operations, amounted to SEK -53m (-1,922) corresponding to earnings per share after dilution, total operations, of SEK -0.35 (-20.30).
- Free cash flow, total operations, amounted to SEK -157m (12).
CEO Comments
Nobia is home to some of the strongest kitchen brands in the Nordics; however, the strength of our brands is not reflected in our financial performance. Improving profitability, strengthening cash generation and creating a more competitive Nordic operating model are therefore our highest priorities.
Net sales increased, supported by a positive currency effect, while organic sales were slightly negative. In a market where B2B demand remained stable at low levels and B2C continued to be volatile, several brands delivered encouraging performances, with improved average order values and stronger B2B sales. However, the overall development remained below our expectations. The negative organic growth was mainly driven by the ongoing transformation in Finland.
The transformation in Finland will continue to weigh on sales in the short term. However, the actions we are taking are necessary and value creating. We are winding down the loss-making Novart business and replacing it with a more competitive and scalable set up, with focused investments in the HTH brand in the Finnish market. This enables Nobia to compete with a stronger value proposition and customer experience to support long-term sustainable growth.
We continued to invest in our brands and commercial initiatives to drive sales. During the quarter, HTH celebrated its 60th anniversary and presented a new visual identity, updated store concept and new products that will be rolled out next year. In Marbodal, Invita and Sigdal, we launched new premium concepts, alongside a new AI-powered design tool to enhance customer experience and sales processes through improved visualisation.
While commercial development remains important, our immediate focus is set on restoring operational and financial performance.
Profitability remained under pressure from the Nobia Park ramp-up and unfinished supply chain consolidation, as well as a cost base designed for a larger and more geographically diverse group than the Nordic-focused business we operate today.
During Q3, we took decisive actions to address these challenges.
In August, we announced a new Group structure designed to support Nobia's competitiveness and profitability as a Nordic group. We are consolidating group functions, consolidating decentralised business units with full commercial accountability, and concentrating key capabilities around Nobia Park and Nobia Denmark's headquarters in Aarhus. These changes create a lean, efficient, scalable and more customer-focused organisation. As part of this, we have also made changes to our Executive Committee.
Yesterday, we announced the next step in our organisational transformation. Beginning in Q4, we are implementing the new, streamlined Nordic organisation, closing non-Nordic support functions and adjusting our office footprint. These measures alongside new ways of working will support both our value creation and profitability over time. The measures announced will generate annual run-rate cost savings of SEK 150m from Q4 2027.
The foundation for the future Nobia is our consolidated and brand-agnostic supply chain. During the quarter, measures were taken to deliver on our promise to customers, including stabilising production volumes and on-time, in-full delivery performance at Nobia Park. There is still work to be done and we continue our assessment of the ramp up and our broader supply chain network, and we expect to present the outcome and plan at the beginning of next year.
In summary, we are working with urgency to build a strong platform for future value creation, while continuing to serve our customers and advancing commercial initiatives across our strong and leading brands.
I would like to thank all colleagues across Nobia for their continued commitment and contribution during this important period of change.
Jesper Gylling Olsen
President & CEO
This disclosure contains information that Nobia AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 04-11-2026 08:30 CET.
For further information:
Jesper Gylling Olsen
CEO & President, Nobia
+46 8 440 16 00
jesper.gylling.olsen@nobia.com
Nobia develops, manufactures and sells kitchen solutions through a number of strong brands in Scandinavia, including HTH, Norema, Sigdal, Invita, Superfront, uno form and Marbodal. Nobia generates profitability by combining economies of scale with attractive kitchen offerings. The Group has approximately 2,000 employees and net sales of about SEK 5.6 billion. The share is listed on Nasdaq Stockholm under the ticker NOBI.
