Plejd AB (publ)
Contents
Overview
Plejd in brief
Comments from the CEO
Our business
Our business
7 Loved by the electrician
8 Loved by the end customer
9 All under one roof
Sustainability report
12 Product quality and regulatory compliance
14 Ethical business practices
15 Attractive and competitive employer
Corporate governance report
18 Board of Directors
22 CEO and other senior executives
25 Auditor's report on the
Corporate Governance Statement
Financial information
26 Administration report
27 Financial statements | Group
32 Financial statements | Parent Company
36 Notes
54 Auditor's report
About the company
Plejd is a leading Nordic supplier of smart lighting and other smart products. By focusing on the user experience, Plejd makes smart solutions easy and available
to everyone.
2
PLEJD IN BRIEF
Multi-year summary | Group
2025 | 2024 | 2023 | 2022 | 2021 |
934,767 | 662,334 | 513,387 | 430,823 | 326,175 |
52.8 | 53.6 | 54.4 | 58.7 | 57.0 |
229,727 | 134,518 | 59,520 | 79,407 | 53,680 |
24.6 | 20.3 | 11.6 | 18.4 | 16.5 |
69.0 | 74.0 | 71.3 | 69.7 | 70.9 |
727 | 370 | 167 | 206 | 414 |
92,303 | 43,825 | 21,365 | 43,012 | 105,478 |
229 | 207 | 202 | 182 | 135 |
Amounts in TSEK
Net sales
Gross margin, % Operating profit (EBIT) Operating margin, % Equity/assets ratio, %
Share price as of the last balance sheet date, SEK
Cash and cash equivalents Average number of employees
Net sales
2021-2025
Market distribution
TSEK
1,000,000
662,334
513,387
430,823
326,175
900,000
800,000
700,000
600,000
500,000
400,000
300,000
200,000
934,767
Revenue growth
2025 41.1%
2024 29.0 %
2023 19.2 %
2022 32.1 %
2021 56.1 %
2025
Sweden Norway
52.1 %
37.8 %
100,000
The Netherlands 3.8 %
0
2021
2022
2023
2024
2025
Finland Germany2024
Other countries2,9 %
0,8 %
2,6 %
EBIT
2021-2025
TSEK
134,518
79,407
53,680
59,520
240,000
210,000
229,727
2025 24.6%
2024 20.3 %
2023 11.6 %
2022 18.4 %
2021 16.5 %
Operating margin
180,000
150,000
120,000
90,000
60,000
Sweden | 57.1 % |
Norway | 33.4 % |
Finland | 3.1 % |
The Netherlands 3,1 %
30,000
0
2021
2022
2023
2024
2025
Germany
Other countries
0,5 %
2,8 %
PLEJD AB | ANNU AL REPORT 2025 3
COMMENTS FROM THE CEO
Comments from the CEO
Plejd continued its strong development in 2025 with an organic growth of 41 percent. The positive trend that began towards the end of the previous year
has continued throughout the year and confirms the demand for our products and our platform.
An important part has been the launch of the thermostat TRM-01. The product quickly established itself in the market and has already become the product that accounts for the highest revenue in Norway. During the year it was also launched in Sweden, where the reception has been in line with our expectations.
The range has also been expanded with the dimmable smart plug SPD-01, which complements our offering and works as a natural entry product to our platform.
The development in our international markets has continued in a positive direction, with the
Netherlands leading the way. By gradually building up presence and distribution, we create the conditions for stable and long-term growth as new products are introduced.
Ahead of 2026, we see particularly strong potential in the LED Panel LPN-01. In combination with new software functions, it opens up for more commercial installations, an area where we see significant opportunities going forward.
I would like to thank the team for a fantastic year and look forward to an exciting 2026, continued focused on strong organic growth with increasing profitability.
Babak Esfahani
CEO of Plejd AB
PLEJD AB | ANNU AL REPORT 2025 4
Our businessOUR BUSINESS
Professional smart products
Plejd is a leading Nordic technology company developing products for smart lighting, heating and window coverings. Our product range is tailored to meet diverse needs and offering more advantages compared to traditional alternatives. With our wireless mesh technology and intuitive app, we provide the flexibility and ease of use that make Plejd the
obvious choice for both end users and electricians. Our products are designed with electricians in mind, with technology that simplifies and improves installation. With Plejd, electricians get the same
simplicity as traditional products but with many new possibilities.
The electrician is the company's primary customer
We sell our products through electrical wholesalers to electricians who, in turn, install them at both private and commercial end customers. Plejd's products create value for all parties, but we focus on the electrician.
We develop all our products and services in-house, giving us complete control from idea to finished product, ensuring the highest quality and the best user experience.
Plejd
The company sells products to the electrician through electrical wholesalers.
Electrical wholesalers
Electrical wholesalers sell the company's products online and in stores where electricians buy their electrical supplies.
Electricians
Electricians use the company's products as standard for all kinds of lighting control, control of floor heating and window coverings.
End customer
The end customers are both private and commercial installations.
PLEJD AB | ANNU AL REPORT 2025 5