Clas Ohlson Ab Class B · OMXSTO:CLAS_B
Clas Ohlson Ab Class B — Q1 2026 Earnings Presentation
25 slides from Clas Ohlson Ab Class B's earnings presentation, Sep 10, 2025
Slide 1: Q1 report
Q1 report 10 September 2025 Kristofer Tonström President & CEO Pernilla Walfridsson CFO 1
Slide 2: Agenda
• Business update • Financial development Agenda • Events after the reporting period • Summary • Q&A 2
Slide 3: Highlights Q1 2025/26
✓ Q1 total sales 2,814 MSEK, organic +10% ✓ Q1 operating profit at 278 MSEK ✓ operating margin +9.9% Highlights ✓ Operating cash flow 468 MSEK (413) Q1 2025/26 ✓ Solid financial position: net debt/EBITDA -1.0* ✓ EPS: 3.27 SEK (2.30) ✓ Solid start to Q2 with +7% organic growth in August *Excl IFRS 16
Slide 4: Business update
Business update 4
Slide 5: Strategic position
Strategic position Competitive advantages Leveraging competitive advantages • • • • • • Tidy up Light up Create a conscious Connect & enjoy Fix your your home. your home. home environment. your home. home. 5
Slide 6: Financial targets and framework
Sales Operating margin Financial targets and framework 5% Clas Ohlson targets to achieve 7-9% The company is targeting an organic sales growth of a reported operating margin* 5% per year of 7-9% per year * i.e incl IFRS16 Dividend policy Net debt/EBITDA* >50% Dividends are to comprise at <2x Net deb
Slide 7: Strategy execution – overview Q1 25/26
Strategy execution – overview Q1 25/26 A relevant assortment all year round A profitable and growing Building and operating a via prioritised niches. online business. robust store network. ✓ Continued high pace in assortment ✓ All B2C channels show positive ✓ Strong LFL development renewal developme
Slide 8: Customer relevance and satisfaction
Customer relevance and satisfaction Product reviews Affordability Q: How affordable do you think the following brands are? Net promoter score 5 200000 60 4,5 150000 55 4 100000 3% 61% 36% Clas Ohlson 50 3,5 50000 45 3 0 40 Low price 5% 54% 41% competitors average No of reviews Score 1-5 Not affordab
Slide 9: All prioritised niches are growing
All prioritised niches are growing Tidy up Light up Create a conscious Connect & enjoy Fix your your home. your home. home environment. your home. home. Adjacent product segments Spare parts 9
Slide 10: Financial development
Financial development 10
Slide 11: Changes to our reporting as from Q1 2025/26
Changes to our reporting as from Q1 2025/26 • ✓ ✓ ✓ • Up to and including Q4 2024/25, costs related to handling and distributing products at DC, in stores and at HQ have been included in cost of goods sold. As from Q1 2025/26, these costs are allocated to: o personnel expenses o other external expen
Slide 12: Sales development well above targets
Sales development well above targets Q1 Total sales, MSEK Online sales, MSEK • Total sales up 7% to 2,814 MSEK, of which 10% organic, currency effects -3% • Online sales up 10% to 542 MSEK Online share of total sales (R12), % 12
Slide 13: Positive development in all home markets
Positive development in all home markets Sweden Norway Finland Organic growth: Q1: +9% Q1: +17% Q1: +4% 13
Slide 14: Macro trends with business impact
Macro trends with business impact Spot prices for 40t containers from Asia to Gothenburg $18 000 Factors impacting Clas Ohlson: $16 000 $14 000 • Container shipping costs and raw material and commodity prices $12 000 $10 000 • Translation/transaction effects - sales instant effects and purchasing $8
Slide 15: Significantly improved gross margin
Significantly improved gross margin • Lower purchasing costs 47% • Slightly positive currency effects 46% 45% 44% 43% 42% Q1 2022/23 Q1 2023/24 Q1 2024/25 Q1 2025/26 15
Slide 16: Financial overview
Personnel expenses, Q1 Financial overview 566 (536 MSEK) MSEK Q1 Q1 Other external expenses, Q1 MSEK 25/26 24/25 Operating profit 278 203 261 (237 MSEK) MSEK Depreciation/amortisation of Profit after financial items 265 187 tangible and intangible assets, Q1 181 Profit for the period 208 146 MSEK EP
Slide 17: Well balanced inventory
Well balanced inventory • Inventory level: 2,508 MSEK (2,606) at the end of the period 17
Slide 18: Strong cash flow and solid financial position
Strong cash flow and solid financial position Q1 Q1 Approved credit facilities* 758 MSEK 25/26 24/25 MSEK Cash flow from operating activities, before 378 346 Of which utilised 0 MSEK change in working capital Change in working capital 90 67 Net debt/EBITDA excl. IFRS 16 Cash flow from operating acti
Slide 19: Events after the reporting period
Events after the reporting period 19
Slide 20: August sales development
August sales development MSEK • Total sales up 5% to 1,017 MSEK, of which 7% organic, currency effects -2% Total ‒ Sweden +8% organic ‒ Norway +8% organic ‒ Finland +0% organic ‒ Other markets -12% organic • Store network increased by 9 stores compared to end of August last year 20
Slide 21: Summary
Summary 21
Slide 22: Clas Ohlson’s current market opportunity
Clas Ohlson’s current market opportunity: ~340 BSEK*, and growing ~ 340 ~3.4% ~ 86% ~5.9m ~22m bnSEK market brand Club Clas share awareness population members TAM 22 * source: Eidra Consulting (formerly Cupole)
Slide 23: Clear path to continued growth and value creation
Clear path to continued growth and value creation • Well positioned in large and growing product niches ‒ Profitable growth in all product niches and sales channels • Needs-driven product assortment and high customer satisfaction ‒ Continued renewal of assortment • Central store locations, full-scal
Slide 24: Q&A
Q&A 24
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