Achieved Q3 sales of NOK 3.5 billion, up 9% year-over-year, with strong growth in Norway and modest improvement in Sweden, driven by favorable market conditions and effective campaigns.
Group EBIT increased by 52.8% to NOK 256 million, and net profit to parent rose to NOK 154 million.
Norway segment outperformed the market, with sales up 11.6% and EBIT up 37.8%, driven by higher footfall, increased basket size, and successful campaigns.
Sweden segment showed early positive results from store remodelling, with plans to accelerate the programme in 2026–2027; significant turnaround expected after large-scale remodeling.
Appointment of Anders Lorentzson as new CEO of ÖoB to lead the Swedish turnaround.
Group Q3 sales: NOK 3.5 billion (+9% YoY); EBIT: NOK 256 million (+52.8% YoY); net profit to parent: NOK 154 million (+NOK 70 million YoY).
Norway Q3 sales: NOK 2.5 billion (+11.6% YoY); EBIT: NOK 293 million (+37.8% YoY); like-for-like growth: 10.7%.
Sweden Q3 sales: NOK 1 billion (+3.1% YoY); EBIT loss: NOK 37 million (improved from NOK 45 million loss YoY); like-for-like sales up 0.4% in local currency.
Gross margin for the group: 40.7% (+1 percentage point YoY); Norway: 44.6% (+0.9 percentage points YoY); Sweden: 31.1%.
OpEx-to-sales ratio improved by 0.6 percentage points to 25.9%.
Q4 expected to be the strongest quarter, with positive consumer sentiment supported by lower interest rates and real wage growth.
Major focus on Sweden store remodeling, with 40–45 stores to be remodeled annually in 2026–2027; initial negative financial impact expected.
Financial results in Sweden expected to be flat in 2026, with significant profit uplift anticipated from 2027 and major gains in 2028.
Long-term target: Sweden sales of SEK 5 billion and 5% EBIT margin by end of 2028.
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