Bjorn Borg Ab · OMXSTO:BORG
Bjorn Borg Ab — Q2 2025 Earnings Presentation
25 slides from Bjorn Borg Ab's earnings presentation, Aug 15, 2025
Slide 1: Björn Borg - train to live
BJORN BORG @ train to live
Slide 2: Björn Borg AB Investor Presentation Q2 2025
BJÖRN BORG AB Investor Presentation Q2 2025 S T O C K H O L M , A U G U S T 1 5 TH, 2 0 2 5
Slide 3: Content
Content A. Executive Summary B. Where we want to go C. How far we got in Q2 2025 1. Brand heat 2. Top line 2. Bottom line 3. Balance sheet D. Key take-aways
Slide 4: A. Executive Summary
A. Executive Summary
Slide 5: The clear highlights from our second quarter of 2025
"“The clear highlights from our second quarter of 2025 are the strong growth in our own e-commerce, up 26%, and an impressive 45% increase in sports apparel. These results demonstrate the power of our brand, the relevance of our product offering, and the strength of our digital strategies.” Henrik B
Slide 6: Björn Borg Q2 2025 – Executive summary
Björn Borg Q2 2025 – Executive summary • Overall Net sales in Q2 2025 increased by +6% to SEK 226 m. • By channel, the largest channel Wholesale increased by +9% while at the same time own e-com continued to grow with a strong +26%. Own Retail Stores experienced a decline of –20% which was mainly du
Slide 7: B. Where we want to go
B. Where we want to go
Slide 8: Our mission, business strategy and long-term financial objectives
Our mission, our business strategy and our long-term financial objectives are clearly set. BJÖRN BORG AB – WHERE WE WANT TO GO OUR MISSION OUR LONG-TERM OUR BUSINESS FINANCIAL STRATEGY OBJECTIVES • Annual sales growth of min We inspire people to be more, 10% • Increase share of on-line and through o
Slide 9: C. How far we got in Q2 2025
¢ C. How far we got in Q2 2025 q we Ww),
Slide 10: C1. Brand heat
ps) O i) cc ze) Cc O = an) - O
Slide 11: 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 – especially in our growth market Germany BJÖRN BORG AB – SPORTS BRAND KPIS Q2 2025 HIGHLIGHTS CONSIDERATION CONSIDERATION PURCHASE INTENTION HER HIM HIM +39% in DE +10% in SE +46% in DE 18.9% 84.6% 34.5% 13.6% in Q2 202
Slide 12: Purchase intent shows we can build both underwear and sports apparel
Purchase intent figures clearly shows that we can build both underwear and sports apparel BJÖRN BORG AB – BRAND HEAT KPIS 2018-2025 ALL COUNTRIES UNDERWEAR HIM APPAREL 49% 48% 50% 50% 46% 44% 44% 39% 40% 40% Purchase intent 32% 33% 33% 30% 29% 30% 28% 30% 30% 25% Purchase intent 20% 20% 16% 17% 10%
Slide 13: C2. Top line
C2. Top line
Slide 14: Growth continues, delivering a clear second quarter sales record
The growth continues in the second quarter of 2025, delivering a clear second quarter sales record. BJÖRN BORG AB – NET SALES DEVELOPMENT BY QUARTER [SEK M] 990 872 835 235 768 +19% 705 0% 198 +10% 198 +13% 181 Q4 160 285 +9% +5% 262 249 +7% 240 +4% Q3 225 +6% 226 +29% 213 162 +3% 166 Q2 148 +10% 16
Slide 15: Strong momentum overall, especially in Sweden
Strong momentum overall, especially in Sweden. Good recovery in Germany. BJÖRN BORG AB - TOTAL SALES DEVELOPMENT Q2 2025 BY COUNTRY Own subsidiaries +23% SWEDEN -11% NETHERLANDS +21% GERMANY +15% FINLAND -15% BELGIUM +32% DENMARK . Distributors +2% NORWAY -60% UK +38% OTHER Source: BB AB Investor Re
Slide 16: Own e-commerce with very strong growth; wholesale holding up
Own e-commerce with very strong growth. Wholesale still holding up well while distributors decline. BJÖRN BORG AB – CHANNEL DEVELOPMENT Q2 2025 WHOLESALE OWN E-COM OWN RETAIL DISTRIBUTORS +9% +26% -20% -11% VS Q2 2024 VS Q2 2024 VS Q2 2024 VS Q2 2024 • Wholesale e-tailers with • Own e-commerce keeps
Slide 17: Online increase mainly from own e-commerce
Online increase mainly coming from own e-commerce, while external e-tailers had a weaker second quarter vs last year. BJÖRN BORG AB – ONLINE SALES 2021-2025 [SEK M] 160,0 50% 46% 43% 45% 140,0 41% Share online 38% 40% 120,0 32% 97,2 35% 88,1 100,0 4,5 30% 76,9 4,1 80,0 25% 61,1 3,7 41,2 Marketplaces
Slide 18: Sports apparel, underwear and bags are key growth drivers
Sports apparel, underwear, and bags are the key drivers of growth this quarter BJÖRN BORG AB – CATEGORY DEVELOPMENT Q2 2025 Underwear Apparel Bags Footwear +11% +45% +38% -66%
Slide 19: C3. Bottom line
C3. Bottom line BJORN BORG @
Slide 20: Gross margin declines on category mix; operating income steady increase
Gross margin declines vs last year mainly related to the category mix. Operating income show steady increase. BJÖRN BORG AB – BOTTOM LINE KPIS Q2 2025 GROSS MARGIN [% NS] EBIT [m SEK] NET INCOME [m SEK] 76 101 102 73 70% Currency neutral 2025: 48% 15 Q4 Q4 10 17 20 60% 55% 56% 52% 51% 73 51 50% 8 Q3
Slide 21: C4. Balance sheet
C4. Balance sheet
Slide 22: Balance sheet KPIs on good levels; net debt up on Footwear integration
All balance sheet KPIs on good levels. Net debt increasing vs last year due to Footwear integration. BJÖRN BORG AB – BALANCE SHEET KPIS AS PER Q2 2025 Equity [% of assets] Net debt [SEK m] WC 12 months rolling 90 [% of GS] 60% 80 25% 80 22% 49% 50% 68 20% 50% 46% 47% 70 20% 19% 45% 20% 19% 60 40% 51
Slide 23: D. Key take-aways
D. Key take-aways BJORN BORG @
Slide 24: Key take-aways Q2 2025
Our journey continues and the key highlights this quarter are the strong development of our own e-commerce and the exceptional growth in sports apparel B J Ö R N B O R G A B – K E Y TA K E - A W AY S Q 2 2 0 2 5 We’re seeing continued strong Sports apparel continues to 1 We see clear signs of brand
Slide 25: Slide 25