RVRC (RVRC) Q4 25/26 earnings summary

Executive summary

• Achieved continued growth and solid profitability for the year ending June 2026, with net sales up 8% in local currencies to SEK 2,018 million and adjusted EBIT margin reaching 21.0% year-over-year.

• Completed the acquisition of 90.1% of ICANIWILL (ICIW), a profitable sportswear brand, for SEK 700 million EV, with consolidation from July and potential earn-outs up to SEK 175 million.

• Maintained a strong financial position, enabling dividend growth, share buybacks, and increased credit facility to SEK 900 million post-year end.

• Industry-leading margins and market share gains achieved in key regions, despite challenging market conditions, especially in Germany.

• Opened new stores in Stockholm and Haparanda, and completed relocation to a new automated Nordic logistics centre.

Financial highlights

• Q4 net sales: SEK 414 million (+3% in local currencies); full year: SEK 2,018 million (+8% in local currencies).

• Q4 gross margin: 72.2% (up from 69.4%); full-year gross margin: 70.5% (up from 69.8%).

• Q4 EBIT: SEK 66 million (margin 15.9%); full year EBIT: SEK 422 million (margin 20.9%); adjusted full year EBIT: SEK 425 million (margin 21.0%).

• Cash flow from operating activities in Q4 was SEK 31 million, down from SEK 85 million last year, mainly due to inventory buildup.

• Dividend of SEK 1.50 per share proposed (up 11% year-over-year), totaling SEK 161 million, with a payout ratio of 48%.

Outlook and guidance

• Group expects a stronger foundation post-ICIW acquisition, with pro forma annual net sales of approximately SEK 2.5 billion and adjusted EBIT near SEK 500 million.

• Inventory is well positioned for the upcoming autumn and winter season.

• Continued sales growth in local currencies noted in July (pro forma), despite challenging market conditions in Germany.

• ICIW to operate independently, with growth support, especially in DACH; consolidation from July 2026.

• No formal forecast provided.