Sweden · Delayed Price · Currency is SEK Cheffelo AB Earnings Call Transcripts
Fiscal Year 2026
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Net sales grew 18% in H1 2026 with record EBIT and margin improvements, driven by operational leverage and strong performance in Norway, Sweden, and Denmark. Growth in H2 will rely more on customer retention and order value, with increased marketing spend for a refreshed brand identity.
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Q1 2026 saw double-digit sales growth, record EBIT, and strong customer metrics, driven by brand consolidation and operational efficiency. Guidance for H1 2026 is 14%-18% net sales growth, with continued momentum across all markets and robust capital flexibility.
Fiscal Year 2025
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Double-digit sales growth and record EBIT were achieved in 2025, driven by strong customer acquisition, product personalization, and cost control. Brand consolidation in Norway and a pilot expansion into Finland are set to further enhance efficiency and growth.
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Q3 2025 delivered 23% net sales growth and a tripling of year-to-date EBIT, driven by a 64% surge in customer acquisition and strong results in Norway and Sweden. Contribution margin dipped due to higher discounting and food costs, but cash flow and profitability improved significantly.
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Updated financial targets aim for 7%-9% annual growth and EBIT margin by 2028, supported by strong customer acquisition, improved retention, and operational excellence. Personalization, tech innovation, and sustainability drive differentiation, while a capital-light model and robust cash generation underpin continued dividends and reinvestment.
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First-half local currency growth nearly doubled to 12% year-over-year, with EBIT up 42% and strong gains in Norway and Sweden offsetting Danish contraction. Full-year net sales growth is expected to exceed the 8% target, with double-digit Q3 growth anticipated.
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Q1 2025 saw net sales rise 16.5% to SEK 336 million, with EBIT more than doubling and strong growth in Norway and Sweden. Active customers and order frequency increased, and the company expects to exceed its 8% net sales growth target for 2025.
Fiscal Year 2024
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Q4 2024 saw strong growth in net sales, order frequency, and profitability, with Sweden and Norway leading performance and Denmark stabilizing after rapid prior expansion. Price increases and operational efficiencies supported margin gains, and a higher dividend is proposed.
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Q3 saw continued growth, with double-digit gains in Sweden and stable performance in Denmark, while Norway remained flat. Higher marketing spend impacted EBIT, but strong customer loyalty and order frequency improvements support a positive outlook for Q4 and full-year profitability.
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Double-digit net sales growth in Q2 2024 was driven by strong performance in Denmark and improved customer metrics, with profitability and cash flow both increasing. Market consolidation and a key customer acquisition in Sweden further strengthened the outlook.