Bjorn Borg Ab · OMXSTO:BORG
Bjorn Borg Ab — Q4 2025 Earnings Presentation
17 slides from Bjorn Borg Ab's earnings presentation, Feb 13, 2026
Slide 1: Train to live
BJORN BORG @ train to live
Slide 2: Björn Borg AB Q4 2025
BJÖRN BORG AB Q4 2025 Henrik Bunge, CEO Jens Nyström, CFO
Slide 3: CEO quote: own e-commerce, Sports Apparel and operating profit growth
" While own e-commerce grew by 24% and Sports Apparel by 18%, the real highlight in the quarter was a 28% increase in operating profit” Henrik Bunge, CEO BJÖRN BORG AB
Slide 4: Record-breaking Q4 with moderate sales growth and significant profitability improvement
Record-breaking Q4 with moderate sales growth and significant profitability improvement Net sales Gross profit Operating profit SEK 238 m 54.0% SEK 22 m +1.5% +0.7 pp +28% vs Q4 2024 vs Q4 2024 vs Q4 2024 4
Slide 5: Our mission, business strategy, and long-term financial objectives are clearly set
Our mission, business strategy, and long-term financial objectives are clearly set Mission Financial objectives Business strategy Strenghten online presence, We inspire people to be more, increase share of online sales through our belief that 10% Sales growth and business with e-tailers. sports can
Slide 6: Our brand journey continues in the right direction with strong brand heat signs
Our brand journey continues in the right direction with strong brand heat signs – Consideration is growing rapidly BJÖRN BORG AB – SPORTS BRAND KPIS Q4 2025 HIGHLIGHTS CONSIDERATION CONSIDERATION CONSIDERATION HER HIM HIM +78% in DE +14% in SE +9% in NL 17.6% 86.4% 52.3% 9.9% in Q4 2024 76% in Q4 20
Slide 7: Consideration: we are #3 compared with the biggest sports brands
Consideration = We are #3 when comparing ourselves to the biggest sports brands in the world XTREME BRAND TRACK DATA 2025 – CONSIDERATION HIM & HER ALL MARKETS FULL YEAR 2025 88% 81% 53% 51% 41% 40% 37% 36% 35% 18% 16% 15% 13% 8% 5% 1% Source: Brand Track Data from weekly end consumer surveys done b
Slide 8: Fourth quarter sales record of SEK 238 m and full year net sales above SEK 1 billion
The growth continues, delivering a fourth quarter sales record of SEK 238 m and full year net sales above SEK 1 billion. BJÖRN BORG AB – NET SALES DEVELOPMENT BY QUARTER [SEK M] 1 044 990 872 238 835 +2% 235 768 +19% 705 0% 198 +10% 198 +13% 181 300 Q4 160 +5% 285 +9% +5% 262 249 +7% 240 +4% Q3 225
Slide 9: Loungewear and socks developing well, Sports Apparel main growth driver
Loungewear and socks are developing well, and Sports Apparel continues to be the main growth driver. BJÖRN BORG AB – CATEGORY DEVELOPMENT Q4 2025 Loungewear Apparel Socks +14% +18% +13%
Slide 10: Strong momentum in Sweden, Finland and Denmark; Belgium and distributors struggling
Strong momentum in Sweden, Finland and Denmark, while Belgium and external distributors are struggling. BJÖRN BORG AB - TOTAL SALES DEVELOPMENT Q4 2025 BY COUNTRY OWN SUBSIDIARIES +6% SWEDEN -7% NETHERLANDS +21% GERMANY +25% FINLAND -11% BELGIUM +9% DENMARK DISTRIBUTORS -38% NORWAY -41% UK +39% OTHE
Slide 11: Own e-commerce with continued strong growth, wholesale holding on well
Own e-commerce with continued strong growth and wholesale holding on well. Distributors and own retail decline. BJÖRN BORG AB – CHANNEL DEVELOPMENT Q4 2025 WHOLESALE OWN E-COM OWN RETAIL DISTRIBUTORS +2% +24% -24% -31% vs Q4 2024 vs Q4 2024 vs Q4 2024 vs Q4 2024 • Wholesale e-tailers growth • Own e-
Slide 12: Gross margin and operating income improving vs last year
Both gross margin and operating income improving vs last year; positive FX development and controlled OPEX. BJÖRN BORG AB – BOTTOM LINE KPIs Q4 2025 GROSS MARGIN [% NS] EBIT [m SEK] +0.7 pp +28% 54,0% 21,6 53,3% 16,8 Q4 2024 Q4 2025 Q4 2024 Q4 2025
Slide 13: Top-line growth and disciplined cost management drive profitability improvement
Top-Line growth and disciplined cost management drive strong profitability improvement BJÖRN BORG AB – P&L Q4 2025 Change vs Q4 2025 Change vs 2024 Fy 2025 2024 Sales SEK 238 m +5% SEK 1 044 m +8% Gross margin 54,0% +0.7 pp 51,8% -0.8 pp Operating expenses SEK 114 m -1% SEK 457 m +3% Ebit SEK 22 m +
Slide 14: All balance sheet KPIs on good levels; net debt up due to Footwear integration
All balance sheet KPIs on good levels. Net debt increasing vs previous years due to Footwear integration BJÖRN BORG AB – BALANCE SHEET KPIS AS PER Q4 2025 Equity [% of assets] Net debt [SEK m] Working capital [% of GS] +0.5 pp +1.9 pp SEK+41 m 50,2% 50 21,9% 20,0% 49,7% 9 Q4 2024 Q4 2025 Q4 2024 Q4
Slide 15: Key take-aways
Key take-aways
Slide 16: Key highlights: strong own e-commerce and continued strong Sports Apparel growth
Key highlights this quarter include strong own e- commerce development and continued strong Sports Apparel growth B J Ö R N B O R G A B – K E Y TA K E - A W AY S Q 4 2 0 2 5 Very strong own e-com Sports apparel continues to 1 All brand indicators in 2 3 Germany are progressing development in the qua
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