Tokmanni Group (TOKMAN) investor relations material

Executive summary

• Revenue grew by 3.3% year-over-year to EUR 457.7 million, driven by increased footfall, higher average basket size, and a low-price strategy.

• Tokmanni segment delivered solid performance with improved EBIT, while Dollarstore segment saw revenue growth but faced profitability challenges due to higher operating expenses and non-cash impairments.

• Store network expanded to nearly 400 locations in the Nordics, with 13 new stores year-over-year and notable growth in Dollarstore.

• Private label share increased to 26.3%, and assortment harmonization progressed, supporting procurement and margin improvements.

• Leadership changes included a new CEO and executive team appointments, with a shift to English as the group language.

Financial highlights

• Group revenue reached EUR 457.7 million in Q2 2026 (+3.3% YoY); like-for-like revenue grew 0.3%.

• Comparable EBIT was EUR 21.0 million (4.6% margin), stable year-over-year; Tokmanni EBIT improved to EUR 22.3 million, Dollarstore EBIT margin was -0.3%.

• Comparable gross profit was EUR 158.5 million (34.6% margin); gross margin declined slightly due to heavy campaigning.

• Cash flow from operating activities was EUR 45.7 million in Q2, EUR 31.9 million for H1, both down year-over-year but remained strong.

• Inventory value decreased to EUR 446.4 million, aided by a EUR 12 million Dollarstore inventory write-down.

Outlook and guidance

• Guidance for 2026 remains unchanged: revenue expected between EUR 1,780–1,860 million and comparable EBIT between EUR 85–105 million.

• Continued focus on expanding private label and common assortment, with new SPAR products to be introduced in Sweden before Christmas.

• Strategy process and financial targets under review, involving leaders from all markets.

• Preparations for autumn and Christmas seasons are on track, with no supply chain disruptions from geopolitical uncertainty.