Sweden · Delayed Price · Currency is SEK Nelly Group AB Earnings Call Transcripts
Fiscal Year 2026
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Net revenue and operating profit declined year-over-year due to weaker sales and higher costs, despite a higher gross margin from increased own brand share. Investments in Germany and Copenhagen, along with new roles, raised expenses, while the consumer remains highly price-sensitive.
Fiscal Year 2025
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Q4 and full year 2025 saw strong revenue and profit growth despite a challenging, price-sensitive market and increased discounting. Active customer base and own brand share rose, while return rates hit historic lows. Market conditions remain tough, with continued focus on assortment and brand strategy.
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Strong Q3 2025 results with 18.4% revenue growth, improved margins, and a growing customer base. Expansion efforts include a new flagship store in Copenhagen and entry into Germany, while maintaining focus on profitability and operational efficiency.
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Second quarter saw 15.1% net revenue growth and record operating margin of 15.3%, driven by strong own brand performance, improved return rates, and effective marketing. Expansion into new categories and markets is planned, with a continued focus on profitable growth.
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Q1 2025 saw 11.5% net revenue growth and an 8% operating margin, driven by higher own brand sales, improved return rates, and operational efficiencies. Inventory was strategically increased ahead of Q2, and further IT and customer experience initiatives are planned.
Fiscal Year 2024
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Net revenue grew 5.5% in Q4 and 3.2% for the year, with operating margin rising to 11.4% in Q4 and 8.5% for 2024. Improved gross margin, higher own brand share, and lower return rates drove profitability, while investments in IT and marketing support future growth.
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Net revenue grew 1.4% to SEK 239.6 million, with improved gross margin and operating profit. Own brand share and return rates showed strong progress, while the cash position remains solid. Ongoing IT upgrades and a focus on profitable growth continue amid challenging market conditions.
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Net revenue grew 8.8% to SEK 314.1 million with improved profitability and a 9.7% operating margin. Gross margin rose to 54.7%, return rates hit a record low, and own brand share increased, while ongoing IT upgrades and strategic collaborations support future growth.