Nimbus Group AB (BOAT) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Nimbus Group quarter four report. This is Johan Inden speaking and with me to present today I have Rasmus Alvemyr on my side and we'll get going with the report. Well, first of all, I want to say that we continue operating in a soft market. We see that in our numbers. If you compare quarter to quarter, we are lower on sales and we have increased losses. At the same time, and as we will present through the presentation, we are executing a number of decisive measures now to turn the trend. Those are both on the commercial side with new product launches, restructure of our organization, but also on the cost and the efficiency side. And through the presentation, we'll take you through the measures we are taking. But let's start by summarizing the numbers and give you some additional information on where we stand. First of all, fourth quarter done on full year in summary. Net sales in the fourth quarter amounted to 233 million SEC. That's a delta of 40 million SEC less than last year. And as we have pointed out through our presentation and also consistent with Q3, the North America market is the lion's share of the losses. And if we look at the full year, 2025, net sales amounted to 1.366 million SEC. As compared to the 1.619 for last year, that's a delta of 253 million SEC. If you look at the gross profit, we are delivering a gross profit of 6 million SEC. And if you look at the delta towards last year of 28, The majority of the reduction in gross profit is related to running with overcapacity in our factory, but also related to the commercial side where we are still selling out inventory and therefore have rebate structures out on those sales. So that is pressuring our gross margins right now. And if you look at them, the quarter EBITDA results, it's minu...