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Nilörngruppen
Quarterly Report • Jul 16, 2025
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Quarterly Report
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Interim Report for Nilörngruppen AB (publ) Q2, January - June 2025
Period April – June
- Order intake decreased by 1 percent to MSEK 205 (208)
- Net sales in SEK decreased by 10 percent to MSEK 237 (262)
- Net sales adjusted for currency effects amounted to MSEK 259, representing an underlying organic decrease of 1 percent
- Operating profit amounted to MSEK 16.0 (25.6)
- Profit before tax amounted to MSEK 14.2 (24.8)
- Net profit for the period amounted to MSEK 10.8 (18.7)
- Earnings per share amounted to SEK 0.95 (1.64)
Period January – June
- Order intake increased by 7 percent to MSEK 471 (441)
- Net sales in SEK decreased by 2 percent to MSEK 496 (504)
- Net sales adjusted for currency effects amounted to MSEK 519, representing an underlying organic increase of 3 percent
- Operating profit amounted to MSEK 39.0 (48.1)
- Profit before tax amounted to MSEK 35.1 (46.0)
- Net profit for the period amounted to MSEK 26.6 (35.4)
- Earnings per share amounted to SEK 2.33 (3.11)
CEO Statement
Dear shareholders,
The quarter has been marked by continued market volatility, impacting both revenue and earnings. Net sales in SEK decreased by 10 percent, but adjusted for currency effects they were in line with the previous year. Order intake remained stable at MSEK 205, and profit before tax amounted to MSEK 14.
The Outdoor segment has continued to perform strongly. However, we are still seeing a decline within luxury brands, where customers' high inventory levels suggest recovery is likely to be delayed until 2026. We also faced negative one-off effects during the quarter as a couple of our client companies entered restructuring, leading to inventory write-downs of approximately MSEK 2.
As previously mentioned, exchange rate fluctuations have a significant impact, especially on revenue, since all of our sales take place outside Sweden. Most of the cost of goods sold is matched in local currency, while head office costs are in SEK.
The market remains uncertain, not least due to tariffs and trade barriers with the USA. This particularly affects European customers with significant sales in North America. At the same time, we are seeing a change in purchasing patterns, with several larger customers buying later in the season.
In the U.S., we continue to grow, and we have recruited three persons during the quarter and buying back a former agent. This is an important step in strengthening our local presence in a market where we see continued strong potential.
The Turkish market is facing challenges due to hyperinflation, and during the quarter we have carried out a review of our operations in Turkey and reduced the cost base there. Similar analyses are also being conducted in other parts of the Group to create a balance between expansion and efficiency.
At the same time, we continue to invest aggressively. Nilörn:CONNECT has continued to develop and is a key component of our strategy to support customers on the journey toward digital product passports and improved consumer experience.
To meet changing customer needs, we have established a new company in Sri Lanka and hired a local Managing Director to ensure continued high service levels in the region. Regarding the factory project in Bangladesh, we have now agreed on land for the factory construction and can begin planning and surveying. In Portugal, we have ordered two new looms to increase capacity and started the journey toward LEAN production to increase efficiency.
We continue to focus on both profitability and growth, and we look forward to the second half of the year with continued initiatives but also with increased cost awareness.
Krister Magnusson
Period April-June
Order Bookings
The order intake decreased by 1 percent to 205 (208) MSEK.
Net Revenue
Sales in SEK decreased by 10 percent to MSEK 237 (262). Net sales adjusted for currency effects amounted to MSEK 259 (262), representing an underlying decrease of 1 percent. The decline within luxury brands remains significant, with excessive finished goods inventory levels, meaning that recovery is not expected until 2026.
Gross Profit
The gross margin amounted to 44.8 (44.1) percent. Variations in gross profit between quarters are primarily attributable to individual orders and the distribution of product groups, where, for example, packaging has a lower gross profit margin.
Other Income, Costs, and Depreciation
Other operating income amounted to MSEK 4.0 (3.3), mainly attributable to currency effects. Other operating expenses of MSEK 4.3 (3.9) are primarily related to currency.
External costs amounted to MSEK 22.7 (21.7), and personnel costs amounted to MSEK 59.1 (59.3). Depreciation amounted to MSEK 8.3 (8.2).
Operating Profit
The operating result amounted to MSEK 16.0 (25.6), resulting in an operating margin of 6.7 (9.8) percent.
Net Finance Items, Taxes, and Profit for the Period
Net financial items amounted to MSEK -1.8 (-0.9). The increase compared to the previous year is primarily attributable to currency effects.
Tax amounted to MSEK -3.4 (-6.1), resulting in an average tax rate of 23.9 percent. Net profit for the period amounted to MSEK 10.8 (18.8), with earnings per share of 0.95 (1.64) SEK.
Cash Flow, Capital Expenditures, Financing, and Liquidity
Cash flow from operating activities amounted to MSEK 33.9 (31.5). Both inventories and account receivables have had a positive impact. Cash flow from investing activities amounted to MSEK -3.4 (-2.6).
Segments
As shown in the segment reporting in Note 2, there has been an increase in Sweden, while sales in Europe and Asia have decreased. Operating profit has increased in Sweden and decreased in Europe and Asia.
Period January-June
Order Bookings
The order intake increased by 7 percent to 471 (441) MSEK.
Net Revenue and Result
Sales in SEK decreased by 2 percent to MSEK 496 (504). Net sales adjusted for currency effects amounted to MSEK 519 (504), representing an underlying increase of 3 percent. The gross margin was 44.8 (43.8) percent.
Other operating income amounted to MSEK 7.1 (7.4). External costs amounted to MSEK 44.6 (41.3), and personnel costs amounted to MSEK 120.1 (115.4).
Depreciation increased to MSEK 16.8 (16.5).
The operating result amounted to MSEK 39.0 (48.1), resulting in an operating margin of 7.9 (9.5) percent.
Tax amounted to MSEK -8.5 (-10.5), Net profit for the period amounted to MSEK 26.6 (35.4).
Segments
As shown in the segment reporting in Note 2, there has been an increase in both sales and profits in Sweden. For Europe there has been a decrease for both sales and profits whereas for Asia, the sales have increased but the profit has decreased.
Equity
The group's equity amounts to MSEK 332.0 (323.1). The change during the period is attributed to the period's profit of MSEK 26.6, a dividend paid of MSEK 17.1, and translation differences of MSEK -27.9. The translation difference is a net effect from converting equity in foreign subsidiaries to SEK and has been negatively impacted by the strengthening of the krona.
Cash Flow, Capital Expenditures, Financing, and Liquidity
Cash flow from operating activities amounted to MSEK 29.8 (31.6). Inventory levels have now normalised which has affected the cash flow positively. Cash flow from investing activities amounted to MSEK -5.7 (-9.6).
Net cash at the end of the period amounted to MSEK 9.8 (3.6), with the leasing standard IFRS 16 increasing interestbearing debt by MSEK 33.0 (15.2). Comparable figures, excluding reclassification under IFRS 16, show net cash of MSEK 42.8 (18.7). The dividend has burdened cash flow by MSEK 17.1 (11.4).
Personnel
The average number of employees in the group was 681 (661), of which 264 (265) were women (in relation to yearend). Out of the total number of employees, 57 percent are engaged in production and warehousing.
Transactions with Related Parties
No transactions between Nilörngruppen and related parties that have materially affected the group's results and financial position have taken place during the period apart from paying out dividend. The parent company's transactions with subsidiaries involve design, product development, IT, and other services.
Parent Company
The parent company's operations mainly involve managing group-wide functions such as branding and design, product development, finance, administration, information, and IT. The average number of employees amounted to 29 (28) persons.
Net sales for the year amounted to MSEK 24.3 (21.2). Operating profit amounted to MSEK -5.2 (-3.0) and net profit amounted to MSEK 22.7 (33.0).
Risks and Uncertainties
With its international operations, Nilörngruppen is continually exposed to various financial risks. The significant risks and uncertainties Nilörngruppen is exposed to include currency risks, political risks in individual countries, credit risks, and IT security, as outlined in Nilörngruppen's 2024 annual report, note 2.
Audit
This report has not been subject to review by the company's auditor.
Calendar
- October 24, 2025: Interim report Q3
- February 12, 2026: Year-end report
This information is information that Nilörngruppen AB is obligated to disclose under the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication on July 16, 2025, at 08:00 a.m. through the contact person below.
The Board of Directors and the CEO assure that the interim report provides a true and fair overview of the company's and the group's operations, position, and results, and describes the significant risks and uncertainties that the company and the entities included in the group face.
BORÅS 16 July 2025
NILÖRNGRUPPEN AB (PUBL)
Petter Stillström Magnus Johansson Per Wagnås Chairman of the Board Member of the Board Member of the Board
Annika Elfström Krister Magnusson Member of the Board CEO
FOR FURTHER INFORMATION CONTACT
Krister Magnusson, CEO Mobile: 0704 85 21 14 E-mail: [email protected]
Nilörngruppen AB Box 499 503 13 Borås www.nilorn.com
Summary Financial Reports – the Group
Consolidated Income Statement
| 3 months | 6 months | ||||
|---|---|---|---|---|---|
| April-June | January-June | ||||
| Amounts in SEK thousand | 2025 | 2024 | 2025 | 2024 | |
| Net revenue | 237,285 | 262,000 | 495,854 | 504,338 | |
| Raw materials, supplies and goods for resale | -130,943 | -146,565 | -273,789 | -284,178 | |
| Gross profit | 106,342 | 115,435 | 222,065 | 220,160 | |
| Other operating revenue | 4,039 | 3,345 | 7,098 | 7,410 | |
| Other external costs | -22,650 | -21,734 | -44,560 | -41,249 | |
| Personnel costs | -59,089 | -59,279 | -120,118 | -115,376 | |
| Depreciation, amortisation and impairment charges | -8,331 | -8,220 | -16,830 | -16,500 | |
| Other operating costs | -4,300 | -3,915 | -8,630 | -6,348 | |
| Operating profit | 16,011 | 25,632 | 39,025 | 48,097 | |
| Net finance items | -1,826 | -872 | -3,956 | -2,139 | |
| Profit before taxes | 14,185 | 24,760 | 35,069 | 45,958 | |
| Taxes | -3,388 | -6,014 | -8,497 | -10,523 | |
| Net profit for the period | 10,797 | 18,746 | 26,572 | 35,435 | |
| Average number of shares outstanding (thousands) | 11,402 | 11,402 | 11,402 | 11,402 | |
| Average number of shares outstanding after dilution (thousands) | 11,402 | 11,402 | 11,402 | 11,402 | |
| Earnings per share, SEK | 0,95 | 1,64 | 2,33 | 3,11 | |
| Earnings per share, SEK after dilution | 0,95 | 1,64 | 2,33 | 3,11 |
Consolidated Statement of Comprehensive Result
| April-June | January-June | ||||
|---|---|---|---|---|---|
| Amounts in SEK thousand | 2025 | 2024 | 2025 | 2024 | |
| Net profit for the period Other comprehensive result that may be reposted to net profit for the period |
10,797 | 18,746 | 26,572 | 35,435 | |
| Translation differences | -5,319 | -6,405 | -27,880 | 4,264 | |
| Items that cannot be reposted to net profit for the period | |||||
| Revaluation of defined benefit pension scheme | 0 | 0 | 0 | 0 | |
| Total profit for the period | 5,478 | 12,341 | -1,308 | 39,699 | |
| Total profit for the period attributable to: | |||||
| The Parent Company's equity holders | 5,352 | 12,391 | -1,733 | 39,586 | |
| Minority interest | 126 | -50 | 425 | 113 |
Distribution by product group
Quarterly Income Statements
| Amount in MSEK) | 2025 | 2024 | 2023 | 2022 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
| Net revenue | 258,6 | 237,3 | 242,3 | 262,0 | 208,4 | 231,9 | 221,3 | 230,2 | 214,7 | 203,7 | 242,3 | 269,1 | 232,0 | 199,3 |
| Raw materials, supplies and goods for resale |
-142,8 | -130,9 | -137,6 | -146,6 | -108,3 | -124,7 | -126,1 | -134,4 | -117,3 | -112,3 | -136,2 | -150,8 | -127,6 | -111,7 |
| Gross profit | 115,8 | 106,3 | 104,7 | 115,4 | 100,1 | 107,2 | 95,2 | 95,8 | 97,4 | 91,3 | 106,2 | 118,3 | 104,4 | 87,6 |
| Gross margin | 44,8% | 44,8% | 43,2% | 44,0% | 48,0% | 46,2% | 43,0% | 41,6% | 45,4% | 44,9% | 43,8% | 44,0% | 45,0% | 44,0% |
| Other income | 3,1 | 4,0 | 4,1 | 3,3 | 2,6 | 8,2 | 4,3 | 8,2 | 5,5 | 7,4 | 2,7 | 7,2 | 8,2 | 14,3 |
| Operating costs | -87,3 | -86,0 | -78,0 | -84,9 | -78,8 | -86,5 | -75,2 | -80,1 | -73,6 | -81,9 | -61,8 | -72,9 | -67,2 | -80,8 |
| Depreciation, amortisation and impairment charges |
-8,5 | -8,3 | -8,3 | -8,2 | -8,6 | -9,4 | -7,3 | -7,8 | -8,5 | -7,6 | -6,9 | -7,7 | -8,4 | -6,9 |
| Operating profit | 23,1 | 16,0 | 22,5 | 25,6 | 15,3 | 19,5 | 16,9 | 16,1 | 20,8 | 9,2 | 40,2 | 44,9 | 37,0 | 14,2 |
| Operating margin | 8,9% | 6,7% | 9,3% | 9,8% | 7,3% | 8,4% | 7,6% | 7,0% | 9,7% | 4,5% | 16,6% | 16,7% | 16,0% | 7,1% |
| Operating profit per share |
2,0 | 1,4 | 2,0 | 2,2 | 1,3 | 1,7 | 1,5 | 1,4 | 1,8 | 0,8 | 3,5 | 3,9 | 3,2 | 1,2 |
Quarterly Development
Consolidated Balance Sheet
| Amounts in SEK thousand | 2025-06 | 2024-06 | 2024-12 | 2023-12 |
|---|---|---|---|---|
| Assets | ||||
| Intangible non-current assets | 52,418 | 51,417 | 53,207 | 47,989 |
| Other non-current assets | 131,165 | 113,806 | 146,102 | 120,495 |
| Inventories | 150,305 | 156,057 | 170,552 | 165,813 |
| Trade receiveables | 96,499 | 132,640 | 85,471 | 106,363 |
| Other current assets | 44,897 | 37,700 | 41,346 | 32,470 |
| Cash and cash equivalents | 104,273 | 87,594 | 100,814 | 104,719 |
| Total assets | 579,557 | 579,214 | 597,492 | 577,849 |
| Equity and liabilities | ||||
| Equity | 331,980 | 323,123 | 350,389 | 294,822 |
| Long-term interest-bearing liabilites | 16,799 | 4,907 | 23,156 | 8,707 |
| Long-term non-interest-bearing liabilities | 5,449 | 5,956 | 6,653 | 6,379 |
| Current interest-bearing liabilities | 77,716 | 79,098 | 58,408 | 102,785 |
| Current non-interest-bearing liabilities | 147,613 | 166,130 | 158,886 | 165,156 |
| Total equity and liabilities | 579,557 | 579,214 | 597,492 | 577,849 |
Changes in Consolidated Equity 2025
| Amounts in SEK thousand | Share capital |
Other contributed capital |
Reserves | Retained earnings including net profit for the period |
Total | Minority Interest |
Total equity |
|---|---|---|---|---|---|---|---|
| OPENING EQUITY 2025-01-01 | 2,850 | 43,231 | -6,150 | 309,680 | 349,611 | 778 | 350,389 |
| Net profit for the period | 26,147 | 26,147 | 425 | 26,572 | |||
| Other total profit | |||||||
| Translation differences during the period | -27,880 | -27,880 | -27,880 | ||||
| Transactions with shareholders | |||||||
| Dividend | -17,102 | -17,102 | |||||
| -17,102 | |||||||
| CLOSING EQUITY 2025-06-30 | 2,850 | 43,231 | -34,030 | 318,726 | 330,777 | 1,203 | 331,980 |
2024
| Amounts in SEK thousand | Share capital |
Other contributed capital |
Reserves | Retained earnings including net profit for the period |
Total | Minority Interest |
Total equity |
|---|---|---|---|---|---|---|---|
| OPENING EQUITY 2024-01-01 | 2,850 | 43,231 | -12,551 | 260,943 | 294,473 | 352 | 294,825 |
| Net profit for the period | 35,322 | 35,322 | 113 | 35,435 | |||
| Other total profit | |||||||
| Translation differences during the period | 4,271 | 4,271 | - 7 | 4,264 | |||
| Transactions with shareholders | |||||||
| Dividend | -11,401 | -11,401 | 0 | -11,401 | |||
| CLOSING EQUITY 2024-06-30 | 2,850 | 43,231 | -8,280 | 284,864 | 322,665 | 458 | 323,123 |
Key Financial Indicators for the Period 1 January - 30 June
| 1 January – 31 June | 1 January – 31 December | ||||||
|---|---|---|---|---|---|---|---|
| KEY FINANCIAL INDICATORS | 2025 | 2024 | 2024 | 2023 | 2022 | 2021 | 2020 |
| Revenue grow th, % | -1,7 | 11,7 | 8,6 | -7,7 | 19,6 | 27,5 | -13,6 |
| Operating margin, % | 7,9 | 9,5 | 8,8 | 7,2 | 14,5 | 15,2 | 8,2 |
| Profit margin, % | 7,1 | 9,1 | 8,3 | 6,0 | 14,0 | 14,7 | 7,6 |
| Average equity | 341,2 | 309,0 | 322,6 | 314,0 | 305,8 | 244,0 | 198,3 |
| Return on equity, % | 14,8 | 17,5 | 18,3 | 12,5 | 33,0 | 35,8 | 16,9 |
| Equity ratio, % | 57,3 | 55,8 | 58,6 | 51,0 | 54,3 | 50,0 | 49,7 |
| Interest-bearing net cash (liabilities –) excluding IFRS16, MSEK* |
42,8 | 18,6 | 60,3 | 16,9 | 39,3 | 75,1 | 24,8 |
| Earnings per share, SEK | 2,33 | 3,11 | 5,17 | 3,45 | 8,86 | 7,67 | 2,94 |
| Equity per share, SEK | 29,12 | 28,34 | 30,73 | 25,86 | 29,22 | 24,40 | 18,40 |
| Dividend per share, SEK** | - | - | 1,50 | 1,00 | 5,00 | 5,00 | 2,00 |
| Average number of shares outstanding | 11,401,988 | 11,401,988 | 11,401,988 | 11,401,988 | 11,401,988 | 11,401,988 11,401,988 | |
| Number of shares outstanding at end of period |
11,401,988 | 11,401,988 | 11,401,988 | 11,401,988 | 11,401,988 | 11,401,988 11,401,988 | |
| Average number of employees | 681 | 612 | 661 | 593 | 587 | 553 | 499 |
Consolidated Cash Flow Statement
| Amounts in SEK thousand | April-June | January-June | ||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |||
| Operating activities | ||||||
| Operating profit | 16,011 | 25,631 | 39,025 | 48,097 | ||
| Adjustment for items not included in cash flow | ||||||
| Depreciation, amortisation and impairment charges | 8,331 | 8,220 | 16,830 | 16,500 | ||
| Other non cash generated items | -1,587 | -300 | -3,216 | -225 | ||
| 22,755 | 33,551 | 52,639 | 64,372 | |||
| Interest income | 747 | 842 | 1,343 | 1,354 | ||
| Interest expense | -986 | -1,413 | -2,083 | -3,267 | ||
| Paid taxes | -4,061 | -4,882 | -8,615 | -9,992 | ||
| Cash flow from operating activities before changes in working | ||||||
| capital | 18,455 | 28,098 | 43,284 | 52,467 | ||
| Cash flow from changes in working capital | ||||||
| Inventories | 2,800 | 10,056 | -18 | 14,551 | ||
| Trade receivables | 36,408 | 13,356 | -19,984 | -21,364 | ||
| Other short-term receivables | -4,537 | 2,259 | -2,925 | -5,230 | ||
| Trade payables | 5,185 | 11,205 | 8,729 | 3,054 | ||
| Other liabilities | -24,366 | -33,513 | 734 | -11,884 | ||
| Cash flow from operating activities | 33,945 | 31,461 | 29,820 | 31,594 | ||
| Investment activities | ||||||
| Acquisition of intangible non-current assets | -1,288 | -1,724 | -2,103 | -3,380 | ||
| Acquisition of tangible non-current assets | -2,508 | -931 | -4,290 | -6,045 | ||
| Change in long-term receivable Cash flow from investment activities |
362 -3,434 |
88 -2,567 |
655 -5,738 |
-167 -9,592 |
||
| Financing activities | ||||||
| Repayment/raising loans | 2,133 | -2,911 | 20,024 | -19,010 | ||
| Amortisation IFRS16 | -4,858 | -4,987 | -9,876 | -10,271 | ||
| Paid dividend | -17,102 | -11,401 | -17,102 | -11,401 | ||
| Cash flow from financing activities | -19,827 | -19,299 | -6,954 | -40,682 | ||
| Cash flow for the year | 10,684 | 9,595 | 17,128 | -18,680 | ||
| Cash and cash equivalents at beginning of period | 98,608 | 79,259 | 100,814 | 104,719 | ||
| Translation difference in cash and cash equivalents | -5,019 | -1,260 | -13,669 | 1,555 | ||
| Cash and cash equivalents at end of period | 104,273 | 87,594 | 104,273 | 87,594 |
Summary Financial Reports – Parent Company
Parent Company Income Statement
| 3 months | 6 months | ||||
|---|---|---|---|---|---|
| Amounts in SEK thousand | April-June | January-June | |||
| 2025 | 2024 | 2025 | 2024 | ||
| Net revenue | 12,201 | 10,731 | 24,301 | 21,188 | |
| Other operating income | 276 | 0 | 955 | 0 | |
| Total revenue | 12,477 | 10,731 | 25,256 | 21,188 | |
| Other external costs | -5,531 | -3,797 | -10,777 | -7,165 | |
| Personnel costs | -8,999 | -7,719 | -17,048 | -14,750 | |
| Depreciation, amortisation and impairment charges | -1,313 | -1,199 | -2,630 | -2,226 | |
| Operating profit | -3,366 | -1,984 | -5,199 | -2,953 | |
| Net finance items | 28,454 | 23,685 | 28,163 | 38,933 | |
| Profit after finance items | 25,088 | 21,701 | 22,964 | 35,980 | |
| Taxes | -177 | -1,414 | -290 | -3,018 | |
| Net profit for the period | 24,911 | 20,287 | 22,674 | 32,962 |
Since there are no comprehensive profit items, comprehensive income coincides with the period's results.
Parent Company Balance Sheet
| Amounts in SEK thousand | 2025-06 | 2024-06 | 2024-12 | 2023-12 |
|---|---|---|---|---|
| Assets | ||||
| Intangible non-current assets | 39,751 | 37,975 | 39,969 | 34,481 |
| Tangible non-current assets | 982 | 1188 | 1,069 | 1253 |
| Financial non-current assets | 157,384 | 130,926 | 137,157 | 130,926 |
| Short-term receivables | 112,872 | 129,584 | 100,980 | 105,701 |
| Cash and cash equivalents | - | - | 17,148 | - |
| Total assets | 310,989 | 299,673 | 279,175 | 272,361 |
| Equity and liabilities | ||||
| Equity | 192,505 | 180,553 | 186,932 | 158,994 |
| Untaxed reserves | 11,303 | 14,353 | 11,303 | 14,353 |
| Current liabilities | 107,181 | 104,767 | 98,088 | 99,014 |
| Total equity and liabilities | 310,989 | 299,673 | 296,323 | 272,361 |
Notes
1. Accounting Policies
The consolidated financial statements, similar to those for 2024, have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU and the Swedish Financial Reporting Board's recommendation no. 1 (RFR 1). The parent company, similar to the annual report for 2024, prepares its financial statements in accordance with the Swedish Annual Accounts Act and the Swedish Financial Reporting Board's recommendation no. 2 (RFR 2). The interim report has been prepared in accordance with IAS 34 and the Swedish Annual Accounts Act. Disclosures in accordance with IAS 34.16A are provided not only in the financial statements and their accompanying notes but also in other parts of the interim report.
New accounting principles for 2025
No new accounting principles that have materially affected Nilörn have come into effect for the year 2025
2. IFRS 16 Leasing
| Of which ef fect of IFRS |
30 Jun. 2025 not incl. effect of IFRS |
||
|---|---|---|---|
| Report of financial position | 30-Jun-25 | 16 | 16 |
| Other non-current assets | 131,165 | 33,954 | 97,211 |
| Other current assets | 44,897 | -1,386 | 46,283 |
| Equity (profit for the year) | 331,980 | -444 | 332,424 |
| Long-term interest-bearing liabilities | 16,799 | 16,490 | 309 |
| Short-term interest-bearing liabilities | 77,716 | 16,522 | 61,194 |
| Total effect on equity | 32,568 |
| Of which ef fect of IFRS |
Jan-Jun 2025 not incl. effect of IFRS |
||
|---|---|---|---|
| Report of effects on profit | Jan-Jun 2025 | 16 | 16 |
| Other external cost | -44,560 | 9,876 | -54,436 |
| Depreciation, amortisation and impairment | -16,830 | -9,373 | -7,457 |
| Net finance items | -3,956 | -510 | -3,446 |
| Taxes | -8,497 | -12 | -8,485 |
| Total | -73,843 | -19 | -73,824 |
| Key financial indicators | Jan-Jun 2025 | Of which ef fect of IFRS 16 |
Jan-Jun 2025 not incl. effect of IFRS 16 |
|---|---|---|---|
| Operating margin Net cash and cash equivalents (liabilities −), |
7,9% | 0,1% | 7,8% |
| MSEK | 9,8 | -33,0 | 42,8 |
| Equity ratio, % | 57,3% | -3,4% | 60,7% |
3. Information by Geographic Area
Primary segment - geographic areas
Period April-June 2025
| Sweden | Europe | Asia | Intra Group | Total | |
|---|---|---|---|---|---|
| Revenue | |||||
| External revenue | 14,546 | 88,909 | 133,830 | 0 | 237,285 |
| Total revenue | 14,546 | 88,909 | 133,830 | 0 | 237,285 |
| Profit | |||||
| Operating profit | 2,317 | 9,447 | 7,212 | -2,965 | 16,011 |
| Interest income | 747 | 747 | |||
| Interest expense | -2,573 | -2,573 | |||
| Taxes on the on the period's profit | -3,388 | -3,388 | |||
| Net profit for the period | 2,317 | 9,447 | 7,212 | -8,179 | 10,797 |
| Period April-June 2024 | |||||
| Sweden | Europe | Asia | Intra Group | Total | |
| Revenue | |||||
| External revenue | 11,024 | 103,454 | 147,522 | 0 | 262,000 |
| Total revenue | 11,024 | 103,454 | 147,522 | 0 | 262,000 |
| Profit | |||||
| Operating profit | 808 | 12,366 | 13,962 | -1,504 | 25,632 |
| Interest income | 767 | 767 | |||
| Interest expense | -1,639 | -1,639 | |||
| Taxes on the profit for the year | -6,014 | -6,014 | |||
| Net profit for the year | 808 | 12,366 | 13,962 | -8,390 | 18,746 |
| Period January-June 2025 | |||||
| Sweden | Europe | Asia | Intra Group | Total | |
| Revenue | |||||
| External revenue | 24,183 | 178,327 | 293,344 | 0 | 495,854 |
| Total revenue | 24,183 | 178,327 | 293,344 | 0 | 495,854 |
| Profit | |||||
| Operating profit | 4,108 | 15,892 | 23,426 | -4,401 | 39,025 |
| Interest income | 1,343 | 1,343 | |||
| Interest expense | -5,299 | -5,299 | |||
| Taxes on the on the period's profit | -8,497 | -8,497 | |||
| Net profit for the period | 4,108 | 15,892 | 23,426 | -16,854 | 26,572 |
| Period January-June 2024 | |||||
| Sweden | Europe | Asia | Intra Group | Total | |
| Revenue | |||||
| External revenue | 19,344 | 207,847 | 277,147 | 0 | 504,338 |
| Total revenue | 19,344 | 207,847 | 277,147 | 0 | 504,338 |
| Profit | |||||
| Operating profit | 1,426 | 24,294 | 24,368 | -1,991 | 48,097 |
| Interest income | 1,354 | 1,354 | |||
| Interest expense | -3,493 | -3,493 | |||
| Taxes on the profit for the year | -10,523 | -10,523 | |||
| Net profit for the year | 1,426 | 24,294 | 24,368 | -14,653 | 35,435 |
4. Definitions of alternative key financial indicators
ESMA (The European Securities and Markets Authority) has published guidelines for alternative key financial indicators for companies with securities listed on a regulated market within EU. These guidelines shall be applied to alternative key financial indicators used starting 3 October 2016. Reference is made in the annual accounts to a number of non–IFRS performance metrics used to help investors as well as management to analyse the company's operations. These financial metrics should therefore not be seen as replacements for metrics defined according to IFRS. Since all companies do not calculate financial metrics in the same way, they are not always comparable with metrics used by other companies. These financial metrics should therefore not be seen as replacements for metrics defined according to IFRS. We describe below the various non–IFRS performance metrics used as a complement to the financial information reported in accordance with IFRS and how these metrics have been used.
| Non IFRS-metric |
Definition | Calculation | Justification |
|---|---|---|---|
| Average Equity | Equity at the beginning of the period, plus equity at the end of the period, divided by two |
(350 389 + 331 980) / 2 | The metric is the difference between the Group's assets and liabilities, which is equivalent to consolidated equity contributed by owners and the consolidated aggregated profit. This metric is used to report the capital at tributable to the Group's owners. |
| Average Number of Employees | Average number of yearly em ployed |
This metric is used to measure the development of the Group's work force. |
|
| Revenue Growth | Net revenue at the end of the period, minus net revenue at the beginning of the period, di vided by net revenue at the beginning of the period. |
(495 854 - 504 338) / 504 338 |
This metric is used to analyse profit ability over time, given the resources attributable to the Parent Company's owners. |
| Return on Equity | Profit after tax for the past 12 months as a percentage of av erage equity in the corresponding period |
50 068 / 337 893 | This metric is used to analyse profit ability over time, given the resources attributable to the Parent Company's owners. |
| Interest–bearing net cash and cash equivalents/liabilities excl FRS16 |
Interest–bearing receivables, cash and cash equivalents, re duced by interest–bearing liabilities. |
104 273–16 799–77 716 + 33 012 |
The metric shows the total debt fi nancing and is used as a complement to judge the feasibility of paying dividends, to implement stra tegic investments and to gauge the Group's ability to meet its financial obligations. |
| Operating Margin | Operating result in percent of net revenue. |
39 025 / 495 854 | This metric is used to measure oper ative profitability. |
| Equity Ration | Equity in percent of balance sheet total. |
331 980 / 579 081 | This measure shows the proportion of the company's total assets fi nanced with equity by its shareholders. A high equity ratio is an indication of financial strength. |
| Profit Margin | Result before tax in percent of net revenue. |
35 069 / 495 854 | This metric makes is possible to measure the profitability no matter tax rate |
Definitions of key financial indicators not defined by IFRS
Nilörngruppen in Brief
Nilörngruppen is a global company founded in the 1970s, with expertise in adding value to trademarks through branding in the form of labels, packaging and accessories, primarily for customers in the fashion and apparel industry. Nilörngruppen offers complete, creative and customised concepts in branding, design, product development and logistic solutions. The Group conducts business via its own subsidiaries in Sweden, Denmark, Great Britain, Germany, Belgium, Portugal, Hong Kong, India, Turkey, China, Bangladesh, Italy and Pakistan, Switzerland, Vietnam and USA.