Duell Oyj · OMXHEX:DUELL
Duell Oyj — FY2026 Earnings Presentation
11 slides from Duell Oyj's earnings presentation, Oct 15, 2026
Slide 1: Full-year 2026 financial report
Full-year 2026 financial report TOMI VIRTANEN, CEO CAJ MALMS TE N, CFO PELLERVO HÄMÄLÄINEN, IR 15 OCTOB ER 2026
Slide 2: Q4 2026 in brief
Q4 2026 in brief FO CU S ON SU PP LY C HAIN E FFICIE NC Y A ND IN VEN TORY LE VEL S • Financials • Net sales at previous year’s level • Profitability declined • Improved net working capital and cash flow • Markets and product categories • Solid development in Nordics and UK • Brand portfolio changes
Slide 3: Operational highlights Q4 2026
Operational highlights Q4 2026 BU ILDING STR ON GE R DU ELL F OR F UTU RE Inventory optimisation New eCommerce in Key appointments Brand renewal and Nordics consolidation Inventory levels significantly New eCommerce service Hannu Holopainen - Duell renewed brand identity lower without compromising l
Slide 4: Key figures Q4 and full-year 2026
Key figures Q4 and full-year 2026 ST REN GT HEN ING F IN AN CIAL P OS ITIO N TH RO UG H RE DUC ED IN VE NTOR IES PO SITIVE TR EN D IN 2H 20 26 SAL ES Q4 2026 FY 2026 • Net sales 31.0 MEUR (30.9) • Net sales 124.3 MEUR (126.6) Net sales Net sales • Growth 0.5% (-2.3%) • Growth -1.8% (1.6%) • Gross ma
Slide 5: Net sales development
Net sales development Q4 N ET SA LES AT PR EV IO US Y EAR ’S LEV EL Q4 2026 • Growth 0.5% and in Full-year net sales development comparable currencies -0.9% Quarterly net sales development • Nordics 50% (53) and Central Europe 50% (47) 0.5% MEUR -1.8% MEUR 40 39.5 140 • Own brands sales 14% (16) 37.
Slide 6: Profitability development
Profitability development Q4 P RO FITA BILITY LO WE R DU E TO PR OD UC T M IX AND HIGH ER L OG IS TICS C OS TS Q4 2026 • Adjusted EBITA -0.2 MEUR (1.0) Quarterly adjusted EBITA development Full-year adjusted EBITA development • Impact of brand portfolio changes in France declined net sales MEUR MEUR
Slide 7: Improved net working capital
Improved net working capital CL EAR LY L OW ER IN VEN TORY LE VE LS W HILE S ECU RIN G GO OD AVA ILABILITY NWC and Inventory % of LTM* net sales development • Systematic inventory optimisation resulted MEUR -9.2 MEUR 10 MEUR reduction in inventory levels 80 NWC • Inventory optimisation 7.5 MEUR NWC
Slide 8: Financial position
Financial position ST RO NGE R FIN ANC IAL P OSITIO N Net debt and leverage MEUR 30 -5,3 MEUR • Improved operational cashflow profile 7.3 20 19.6 20.2 MEUR (1.6), improvement of 5.7 MEUR 14.9 • Lower inventory levels 2.5 3.3 • Debt repayments continued according to plan 10 3.6 • Net cash reserves at
Slide 9: Guidance for 2027 financial year
Guidance for 2027 financial year SE PTE MB ER 2 026–AU GU ST 2027 • Duell expects market uncertainty to continue in the 2027 financial year and consumer confidence to remain low. • Net sales is estimated to be EUR 122–130 million • Adjusted EBITA is estimated to be EUR 3–5 million 9
Slide 10: Summary
Summary • Net sales at previous year’s level and profitability below previous year's level • Strengthening market position in the Nordics • Strong sales execution • New head of sales appointed • Restoring profitable growth in France • New brands added in portfolio having impact in 2027 • Renewed sal
Slide 11: Q&A
Q&A FOUR © DUELL SEASONS IN ACTION