Kjell Group Ab · OMXSTO:KJELL
Kjell Group Ab — Q1 2026 Earnings Presentation
21 slides from Kjell Group Ab's earnings presentation, Apr 24, 2026
Slide 1: Kjell Group Q1 Report 2026
Kjell Group • Q1 Report 2026 • Sandra Gadd (CEO), Fredrick Sjöholm (CFO) • 2026-04-24
Slide 2: Disclaimer
Kjell Group Q1 Report 2026 Disclaimer The presentation contains forward-looking statements. All statements other than statements of historical fact included in the Information are statements. Forward-looking statements give the Company’s current expectations and projections relating to it forward-lo
Slide 3: Introduction: Where we are and where we came from
Introduction Where we are and where we came from 2025 was a demanding year 2026 feels like an inflection point We made difficult decisions and pushed our organisation hard. There is still work to do, but the focus has shifted to building. Warehouse operations outsourced from January 2026, Low invent
Slide 4: Q1 Summary
Kjell Group Q1 Report 2026 Q1 Summary • January started the same way that December ended • March marked a clear trend reversal Critically low inventory availability Sweden in line with previous year, Norway up 9 percent, both with strengthened gross margin • Warehouse relocation completed on schedul
Slide 5: Warehouse relocation
Kjell Group Q1 Report 2026 Warehouse relocation Executed on plan – ramp-up underway • [TEXT] Move completed Ramp-up in progress One open item Relocation weekend of 22-25 Jan High inbound & outbound pressure since One (of two) packaging machine not yet executed without deviation from plan. go-live ha
Slide 6: Strategic Reset AV-Cables
Kjell Group Q1 Report 2026 Strategic Reset AV-Cables CEO of Context & decision AV-Cables has operated without the right conditions for an extended period, leading to write-downs of goodwill in Q3 2025. Divestment was evaluated but ruled out due to limited separable substance post-integration. Two op
Slide 7: Assortment programme
Kjell Group Q1 Report 2026 Assortment programme Building the right range for the long-term • [TEXT] Team & leadership Commercial direction • Andreas Thaler appointed as new Head of Assortment, • Focus on tech accessories: Charge & Connect, Networking, responsible for Sweden team and China sourcing o
Slide 8: Financial performance
Financial performance 61409 USB 3.0 Hub
Slide 9: Why we move from Registered to Active customers
Kjell Group Q1 Report 2026 Why we move from Registered to Active customers • [TEXT] • The new metric Active members in loyalty club, measures how many of our members that have made a purchase during the last twelve months. AV-Cables is not part of Kjell’s loyalty club. • Active members are a leading
Slide 10: The period in summary
Kjell Group Q1 Report 2026 The period in summary MSEK Net Sales 2,598 2,572 2,584 2,554 (MSEK) 2,489 2,455 2,379 2,305 773 697 624 594 591 561 530 487 First Net sales Apr- Net sales quarter 487.4 (561.3) mar 2,305.2 (2,553.5) Net sales growth Net sales growth -13.2% (5.1%) -9.7% (-0.7%) Q2 24 Q3 24
Slide 11: Gross margin development
Kjell Group Q1 Report 2026 Gross margin development • [TEXT] • Gross margin increased to 44.9% (42.1%) in Q1, with improvements 236 across all markets 219 • Margin expansion was driven by higher product margins, reflecting the impact of renegotiated supplier agreements and a more favorable product m
Slide 12: Operating expenses
Kjell Group Q1 Report 2026 Operating expenses Personnel costs: lower YoY following Other external expenses: lower cost FX revaluations: currency impacting less earlier restructuring. base and reclassification of warehouse positively compared to last year. Q1 includes SEK 0.4m restructuring and perso
Slide 13: Adjusted EBITA
Kjell Group Q1 Report 2026 Adjusted EBITA • Adjusted EBITA at MSEK -13.3 (-2.3) for the quarter 50 40% 37.8 40 • Adjusted EBITA margin amounted to -2.7 (-0.4) percent for the quarter 30% 30 20% 16.7 • The earnings decline was primarily driven by the sharp sales drop early in the 20 10% quarter. Impo
Slide 14: Profitability by Segment
Kjell Group Q1 Report 2026 Profitability by Segment Sweden Norway Denmark • An increased gross margin due to a higher • The increased gross margin is attributable to • An increase in gross margin due to a higher product margin and positive mix effects. the same causes as Sweden, higher product produ
Slide 15: Financial liquidity
Kjell Group Q1 Report 2026 Financial liquidity Core working capital Cash flow from operating activities Financial net debt • Core working capital increased by MSEK 16 • Cash flow from operating activities amounted • Financial net debt decreased by MSEK 205 compared to same quarter last year. to MSEK
Slide 16: Moving forward
Moving forward
Slide 17: Agenda for Q4: Preparing
Kjell Group Q1 Report 2026 Preparing Agenda for Q4 • Across the organization, a common theme has emerged: we have been operating one step behind, always catching up • Breaking that pattern requires time and forward planning, which is why we have anchored our ambitions for Q4 • Q4 will not be perfect
Slide 18: No silver bullet – a thousand small steps
Kjell Group Q1 Report 2026 No silver bullet – a thousand small steps Agenda Commercial improvements • Improvements in pricing, campaigns and product mix are being made daily, incremental but necessary Organizational changes continue • Key roles filled, leadership strengthened at HQ and store level S
Slide 19: We have everything left to prove
Kjell Group Q1 Report 2026 We have everything left to prove And we know it • January and February were tough, we will not pretend otherwise • But we are in a better place today than we have been in a long time • More people internally believe in what we are building, and that belief is showing up in
Slide 20: Q&A
Q&A 61409 USB 3.0 Hub
Slide 21: Company &
Kjell & Company