Sweden · Delayed Price · Currency is SEK Pierce Group AB Earnings Call Transcripts
Fiscal Year 2026
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Q2 saw record sales and improved profitability despite operational challenges from tech upgrades. Transformation costs are expected to decline, with further EBIT improvement and growth driven by established markets and new categories.
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Q1 2026 saw a return to profitability with adjusted EBIT of SEK 2 million and 5% sales growth year-over-year, driven by operational efficiencies and ongoing transformation. Expansion into new markets and categories is underway, with further EBIT improvements expected after IT upgrades.
Fiscal Year 2025
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Q4 saw adjusted EBIT rise to SEK 30 million and revenue grow 3% year-over-year, with gross margin up to 43.5%. Transformation and expansion initiatives are underway, supported by a strong cash position and efficiency gains, positioning the company for continued growth.
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Q3 2025 saw 17% year-on-year revenue growth, improved efficiency, and a strong cash position, despite a lower gross margin due to obsolescence and transformation costs. The company is advancing its IT transformation and expanding into new markets and verticals.
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Record Q2 sales with 15% revenue growth year-over-year and strong profitability gains, driven by improved product availability and performance marketing. Transformation investments and AI initiatives are underway, with further operating leverage expected from 2026.
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Q1 2025 saw 13% revenue growth and a strong March, but gross margin fell to 42.6% and adjusted EBIT was SEK -11 million due to transformation costs and FX. Inventory and cash remain strong, with ongoing investments in tech and Private Label launches planned.
Fiscal Year 2024
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Returned to profit in Q4 with SEK 1 million adjusted EBIT and 6% LTM revenue growth, driven by transformation initiatives and strong performance outside the Nordics. Gross margin declined as focus shifted to absolute profit and customer base growth amid ongoing market uncertainty.
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Gross margin and EBIT improved year-over-year, supported by cost efficiencies and a strong cash position. The company expanded its assortment and launched a successful loyalty program, but faces ongoing uncertainty from weak consumer sentiment and geopolitical risks.
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Revenue grew 3% year-over-year in Q2 2024, with adjusted EBIT up to SEK 17 million and improved margins. Off-road segment led growth, while a new loyalty program and IT transformation advanced strategic goals amid ongoing market uncertainty.