Interim report
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CLAS OHLSON INTERIM REPORT Q1 2025/26 "Strong growth across the entire range" Kristofer Tonström, President and CEO First quarter • Net sales amounted to 2,814 MSEK (2,623), an increase of 7%, of which 10% relates to organic growth and -3% to currency effects • Online sales amounted to 542 MSEK (494), an increase of 10% • Operating profit amounted to 278 MSEK (203) • Profit after tax totalled 208 MSEK (146) • Earnings per share was 3.27 SEK (2.30) • Decision to revise the presentation format of the income statement from function of expense method to nature of expense method. The change will take effect from this interim report for Q1 2025/26. See more information in accounting policies, Note 1 Events after the end of the reporting period • Net sales in August amounted to 1,017 MSEK (968), an increase of 5%, of which 7% relates to organic growth and -2% to currency effects Key ratios LTM Full year May 2025 May 2024 Aug 2024 May 2024 MSEK (unless otherwise stated) - Jul 2025 - Jul 2024 - Jul 2025 - Apr 2025 Net sales 2,814 2,623 11,818 11,627 Gross margin, % 45.7 44.3 45.9 45.6 EBITA 281 206 1,260 1,185 Operating profit 278 203 1,246 1,171 Operating margin, % 9.9 7.7 10.5 10.1 Profit after tax 208 146 944 882 Earnings per share before dilution, SEK 3.27 2.30 14.88 13.91 Cash flow from operating activities 468 413 1,885 1,830 Free cash flow 306 247 1,172 1,114 Number of stores at period end 241 233 241 241 Number of Club Clas members (millions) 5.9 5.5 5.9 5.9 31 Jul 2025 31 Jul 2024 Net debt/EBITDA ratio 0.3 0.8 Net debt/EBITDA ratio, excl IFRS 16 -1.0 -0.4 Equity/assets ratio, % 37.2 32.3 3 Months Interim report Q1 1 May – 31 July 2025/26 Strong organic growth quarter +10% Operating result quarter 278 MSEK Organic growth August +7%
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CEO’S COMMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 2 Strong growth across the entire range The 2025/26 financial year has started well with an organic sales increase of 10 per cent and an operating profit which increased by 37 per cent in the first quarter. As before, we can see how our efforts to make the assortment relevant throughout the year are yielding results. We launched a large number of new products during the first months of the year, which contributed to strong sales of both the basic range and seasonal products. All in all, net sales amounted to 2,814 MSEK (2,623) in the quarter and the operating result improved to 278 MSEK (203), corresponding to an operating margin of 9.9 per cent (7.7). Free cash flow in the quarter increased to 306 MSEK (247) and earnings per share was SEK 3.27 (2.30). Committed co-workers drive profitable growth The development of the store network remains positive, with strong sales in comparable units in all markets. Our co- workers in stores have done an impressive job of taking care of all customers during the summer months and converting visits into sales with a very high level of customer satisfaction. Another example of how the organisation is constantly working to stay one step ahead is how we prepared for the summer, which enabled us to quickly fill stores with new products when demand for products such as fans and air conditioning suddenly skyrocketed. New steps for online sales Online sales is continuing to contribute to profitable growth. Through effective marketing and methodical pricing, we increased sales by almost 30 per cent via www.clasohlson.com during the quarter. We are also continuing to expand our e-com-exclusive range, which now includes more than 4,500 products. These products account for approximately one quarter of total e-com sales. We are also seeing positive development for the B2C business within the Spares Group through the sales channels Teknikdelar and Batteriexperten. Since July 2025, we have also been offering several batteries from Batteriexperten in Clas Ohlson's sales channels and look forward to creating more positive synergies in the future. It is worth noting that Spares' increasing sales to private customers, which largely consist of cables, chargers and other accessories for mobile phones, are occurring in parallel with sales in the Connect & enjoy your home product niche at Clas Ohlson reaching new record levels. Focus on factors we can influence Currency fluctuations are one of the external factors that have the greatest impact on our results. Since we have such a large share of sales in Norway, the weaker NOK has a direct impact on net sales and earnings. However, we were able to offset the negative effects of the NOK during the quarter, largely thanks to lower purchasing prices. In addition, the positive effect of a stronger SEK in relation to the US dollar, our main purchasing currency, has gradually begun to have an impact. The rapidly changing external conditions underscore the importance of continuing to work on things we can influence ourselves in order to remain competitive at all levels and thus be prepared for all situations in an uncertain market climate. Strong sales in August provide energy for the autumn With August sales for the first time exceeding 1 billion SEK, we have been able to maintain a strong sales momentum. Organic sales growth amounted to 7 per cent, driven by strong development across the entire range. We are now entering an autumn with several important sales months, followed by an intense Christmas shopping season, during which we will continue to create value for customers, employees and shareholders. Preparations to serve our customers in the best possible way are in full swing, including the refurbishment of several key stores. We will also open three new stores during the second quarter, the first of which will open tomorrow in Namsos, Norway. I look forward to this and much more! See you in stores and online! Kristofer Tonström, President and CEO Kristofer Tonström ”Online sales is continuing to contribute to profitable growth.”
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CLAS OHLSON IN BRIEF CLAS OHLSON INTERIM REPORT Q1 2025/26 3 Clas Ohlson in brief Clas Ohlson's overall purpose is to make home fixing available, sustainable and enjoyable for everyone. Today, Clas Ohlson is one of the strongest retail brands in the Nordic region, with sales through over 240 stores and e-commerce in Sweden, Norway and Finland, approximately 5,000 co-workers and net sales of approximately 12 billion SEK. Clas Ohlson's offering is based on five prioritised product niches that together build Clas Ohlson's position as a home fixing destination: Tidy up your home Light up your home Create a conscious home environment Connect and enjoy your home Fix your home Spares Group, with sales channels Teknikdelar, Batteriexperten, Spares and ZandParts, which primarily strengthens the customer offering within the Connect and enjoy your home niche, is part of the Clas Ohlson Group. Investing in Clas Ohlson Clas Ohlson is a leading retail company in the Nordic market with a large store network and rapidly growing online sales. The total market for Clas Ohlson's product range is estimated at approximately 340 billion SEK and is expected to continue to grow. In the strategy launched in 2022, we have a simple and clear path to sustainable and profitable growth. With a strong focus on operational efficiency, we want to gradually develop the company's competitive advantages in assortment, brand and customer meeting. Four reasons to invest in Clas Ohlson • Well positioned in large and growing product niches • Needs-driven assortment and high customer satisfaction • Central store locations, full-scale e-commerce and effective marketing • Strong financial position and focus on increasing earnings per share over time Strategic focus areas 1. Relevant assortment all year round via prioritised product niches 2. A profitable and growing online business 3. Building and operating a robust store network 4. A competitive cost base 5. Efficient customer communication 6. A strong organisation with sustainability integrated into the core business Financial targets Growth Sales are to increase organically by 5 per cent per year Profitability The operating margin is to amount to between 7-9 per cent per year Capital structure Net debt in relation to EBITDA (excluding the effect of IFRS 16) to be below two (2) times Dividend policy The dividend is to comprise at least 50 per cent of earnings per share after tax, considering the company’s financial position Sustainability targets Planet Climate neutral and fully circular by 2045, climate neutral in own operations by 2026. Joined the Science Based Targets initiative People A sustainable and long-term employer with engaged co- workers Society Contribute to a fair and prosperous society for future generations 1.1% 10.9% 10.5% 0.0% 5.0% 10.0% 15.0% 22/23 23/24 24/25 Organic growth Organic growth Financial target 3.4% 7.0% 10.1% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 22/23 23/24 24/25 Operating margin Operating margin Financial target 0.2 -0.2 -0.8-1.0 -0.5 0.0 0.5 1.0 1.5 2.0 2.5 22/23 23/24 24/25 Net debt/EBITDA ratio Net debt/EBITDA (excl IFRS 16) Financial target 53% 53% 50% 40% 45% 50% 55% 60% 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 22/23 23/24 24/25 Dividend per share Dividend per share, SEK Share of profit
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 4 Financial development Net sales First quarter (1 May - 31 July 2025) Net sales amounted to 2,814 MSEK (2,623), an increase of 7 per cent, of which 10 per cent relates to organic growth and -3 per cent to currency effects. Online sales amounted to 542 MSEK (494), an increase of 10 per cent. At the end of the quarter, the total number of stores was 241, which was an increase of a net 8 stores compared with the year-earlier period. For more information on the store network, see page 23. Net sales per quarter MSEK Strong organic growth quarter +10% Distribution of net sales 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 Q1 Q2 Q3 Q4 22/23 23/24 24/25 25/26 May 2025 May 2024 MSEK - Jul 2025 - Jul 2024 SEK organic² Sweden 1,320 1,207 9 9 Norway 1,163 1,046 11 17 Finland 259 258 1 4 Other markets 72 112 -35 -35 Total¹ 2,814 2,623 7 10 Of which online sales 542 494 10 11 ²Split between increase in comparable units 7 per cent and change in store network 3 per cent for the period May-July 2025 3 Months Percentage change ¹Spares Group's sales are reported under each geographic market and included in organic growth
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 5 Result First quarter Operating profit amounted to 278 MSEK (203) and the increase is mainly attributable to higher sales combined with improved gross margin. Operating margin was 9.9 per cent (7.7). Goods for resale amounted to -1,528 MSEK (-1,461), an increase reflecting higher volumes. Gross margin increased by 1.4 percentage points to 45.7 per cent (44.3), mainly attributable to lower sourcing costs. The currency impact was marginally positive, with negative effects from sales currencies being offset by more favorable purchase currencies and positive hedge effects*. Personnel expenses amounted to -566 MSEK (-536). The increase in personnel expenses is mainly attributable to salary increases and new stores. Other external expenses amounted to -261 MSEK (-237). The increase is mainly attributable to marketing activities and new stores. Depreciation and amortisation of tangible and intangible assets amounted to -181 MSEK (-187). Net financial expenses amounted to -12 MSEK (-16). Tax for the quarter amounted to -58 MSEK (-41), as a result of the higher profit. Profit after tax for the quarter amounted to 208 MSEK (146). Earnings per share amounted to SEK 3.27 (2.30). *Operating profit was affected by the outcome of currency hedges, see Note 6 for more information Operating profit and operating margin Earnings per share 0.0 2.0 4.0 6.0 8.0 10.0 12.0 -100 0 100 200 300 400 500 600 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 22/23 23/24 24/25 25/26 Operating profit, MSEK Operating margin, % (LTM) 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 -1.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 22/23 23/24 24/25 25/26 Earnings per share, SEK Earnings per share (LTM), SEK Operating margin quarter +9.9%
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 6 Financial position and cash flow Cash flow from operating activities during the quarter amounted to 468 MSEK (413), driven by higher profits and reduced capital tied up in inventories. Free cash flow, i.e. cash flow after investing activities including amortisation of lease liabilities, during the quarter amounted to 306 MSEK (247). Cash flow for the period, after investing and financing activities, amounted to 306 MSEK (247). At the end of the quarter, the inventory value was 2,508 MSEK (2,606). Inventory is lower than in the previous year, primarily due to increased efficiency in inventory management and higher sales during the quarter. This has been partly offset by the addition of new stores and an expanded product mix. The Group’s net debt, meaning interest bearing liabilities less cash and cash equivalents, amounted to 566 MSEK (1,324). Excluding the effect of IFRS 16 the Group’s net cash position was 1,318 MSEK (417). Excluding the effect of IFRS 16 net debt in relation to EBITDA was -1.0 times (-0.4). Credits granted and loan commitments amounted to 758 MSEK, of which 0 MSEK had been utilised. The total credit facility was reduced by 250 MSEK during the quarter. The company’s financial position remains strong and the equity/assets ratio was 37 per cent (32). Free cash flow Capital structure Return on capital employed Investments Investments during the quarter amounted to 32 MSEK (33). Of these, 12 MSEK (26) related to investments in new or refurbished stores. Investments in IT systems amounted to 9 MSEK (4). Investments in the distribution center amounted to 7 MSEK during the quarter. -600 -400 -200 0 200 400 600 800 1,000 1,200 1,400 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 22/23 23/24 24/25 25/26 Free cash flow, MSEK -1.20 -1.00 -0.80 -0.60 -0.40 -0.20 0.00 0.20 0.40 0.60 0.80 1.00 -1,500 -1,000 -500 0 500 1,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 22/23 23/24 24/25 25/26 Net debt excl IFRS 16, MSEK Net debt/EBITDA ratio excl IFRS 16 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 22/23 23/24 24/25 25/26 Average capital employed, MSEK Return on capital employed, % (LTM)
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 7 Events after the end of the reporting period Sales in August Net sales amounted to 1,017 MSEK (968), an increase of 5 per cent, of which 7 per cent relates to organic growth2 and -2 per cent to currency effects. Compared with the same month of the preceding year, the store network increased by a net of 9 stores. The total number of stores at the end of the period was 241 (232). For more information about the store network, refer to page 23. Other information Parent Company Parent Company net sales for the financial year amounted to 2,179 MSEK (1,983) and profit after financial items amounted to 209 MSEK (141). The increase in operating profit is primarily attributable to higher sales. Investments during the year amounted to 27 MSEK (22). Employees The number of employees in the Group was approximately 5,000. Recalculated to average full-time equivalents (FTEs) in the quarter, this corresponds to an average of 3,256 (3,232). The difference compared to the year-earlier period is mainly related to new stores. Seasonal fluctuations Clas Ohlson’s market and operations are influenced by consumer purchasing behaviour. The company’s product range is particularly well suited to Christmas preparations and Christmas shopping, which means that the third quarter (November-January) is generally the strongest quarter of the financial year. This is followed by the second and first quarters and, finally, the fourth quarter, which is the weakest in terms of sales and profit. Audit This report is unaudited. Clas Ohlson AB (publ) Insjön, 10 September 2025 Kristofer Tonström President and CEO MSEK Aug 2025 Aug 2024 SEK organic² May-Aug 2025 May-Aug 2024 SEK organic² Sweden 468 432 8 8 1,788 1,639 9 9 Norway 414 394 5 8 1,577 1,441 9 14 Finland 104 107 -2 0 364 365 0 3 Other markets 31 35 -12 -12 103 147 -30 -30 Total¹ 1,017 968 5 7 3,832 3,592 7 9 Percentage change Percentage change ¹Spares Group's sales are reported under each geographic market and included in organic growth ²Split between increase in comparable units 4 per cent and change in store network 2 per cent for the month of August Split between increase in comparable units 6 per cent and change in store network 3 per cent for the period May-August 2025
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 8 Consolidated income statement Consolidated comprehensive income statement LTM Full year May 2025 May 2024 Aug 2024 May 2024 MSEK Note - Jul 2025 - Jul 2024 - Jul 2025 - Apr 2025 Net sales 3 2,814.5 2,623.2 11,817.9 11,626.7 Goods for resale -1,528.3 -1,460.6 -6,388.5 -6,320.8 Personnel expenses -566.5 -535.8 -2,371.4 -2,340.7 Other external expenses -261.0 -236.9 -1,067.6 -1,043.6 Depreciation/amortisation of tangible and intangible assets -181.0 -187.3 -741.4 -747.7 Other operating income and expenses 4 -0.1 0.1 -2.9 -2.7 Total expenses -2,536.9 -2,420.5 -10,571.9 -10,455.5 Operating result 277.6 202.8 1,246.0 1,171.2 Financial income 6.3 2.2 20.4 16.3 Financial expenses -18.6 -17.8 -70.4 -69.6 Profit after financial items 265.3 187.1 1,196.1 1,117.9 Income tax -57.6 -41.3 -252.0 -235.7 Profit for the period 207.7 145.8 944.1 882.2 Profit for the period attributable to: Owners of the Parent Company 207.7 145.8 944.1 882.2 Non-controlling interests - - - - 3 Months LTM Full year May 2025 May 2024 Aug 2024 May 2024 MSEK Note - Jul 2025 - Jul 2024 - Jul 2025 - Apr 2025 Profit for the period 207.7 145.8 944.1 882.2 Other comprehensive income, net of tax: Items that have been or may be reclassified subsequently to income statement: Exchange rate differences 9.5 -6.5 -27.3 -43.3 Cash flow hedging 6 1.2 -0.6 -26.0 -27.8 Total 10.7 -7.0 -53.3 -71.1 Items that will not be reclassified subsequently to income statement: Change in fair value of financial assets 6 0.0 -4.0 -2.3 -6.3 Total 0.0 -4.0 -2.3 -6.3 Other comprehensive income, net of tax 10.7 -11.1 -55.6 -77.4 Comprehensive income for the period 218.5 134.8 888.5 804.8 Comprehensive income attributable to: Owners of the Parent Company 218.5 134.8 888.5 804.8 Non-controlling interests - - - - 3 Months
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 9 Consolidated statement of Group financial position 31 Jul 31 Jul 30 Apr MSEK Note 2025 2024 2025 Assets Goodwill 5 405.4 400.4 405.4 Trademarks 23.5 30.8 25.4 Customer relationships 14.4 21.0 16.1 IT- and software costs 79.8 82.0 75.6 Land and buildings 191.6 216.4 197.7 Equipment, tools, fixtures and fittings 412.9 417.3 414.5 Right-of use assets 1,707.2 1,685.5 1,670.5 Securities held as fixed assets 6 - 2.3 - Deferred tax assets 73.6 72.1 75.0 Other non-current receivables 118.6 0.8 0.7 Total non-current assets 3,026.9 2,928.5 2,880.9 Inventories 2,508.4 2,606.0 2,414.5 Accounts receivable 46.5 40.3 67.7 Tax assets 5.0 10.7 5.1 Other receivables 26.3 19.2 7.6 Prepaid expenses and accrued income 6 129.2 126.5 102.3 Cash and cash equivalents 1,317.5 417.4 1,010.7 Total current assets 4,032.9 3,220.2 3,608.0 Total assets 7,059.9 6,148.7 6,488.9 Equity and liabilities Share capital 82.0 82.0 82.0 Other contributed capital 90.4 90.4 90.4 Other reserves -107.3 -53.9 -118.0 Profit brought forward including profit for the year 2,558.5 1,868.2 2,345.8 Non-controlling interests - - - Total equity 2,623.7 1,986.7 2,400.3 Non-current lease liabilities, interest bearing 1,350.9 1,199.5 1,193.9 Deferred tax liabilities 195.9 160.4 196.6 Other non-current liabilities 5 40.5 40.2 40.6 Total non-current liabilities 1,587.4 1,400.0 1,431.1 Current lease liabilities, interest bearing 532.8 542.1 507.4 Accounts payable 1,121.2 1,137.9 978.9 Tax liability 57.4 59.6 71.5 Other current liabilities 417.3 353.9 266.9 Accrued expenses and prepaid income 6 637.5 594.6 748.4 Contract liabilities 82.6 73.9 84.5 Total current liabilities 2,848.8 2,762.0 2,657.5 Total equity and liabilities 7,059.9 6,148.7 6,488.9
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 10 Consolidated condensed statement of cash flow Consolidated statement of changes in equity Full year May 2025 May 2024 Aug 2024 May 2024 MSEK Note - Jul 2025 - Jul 2024 - Jul 2025 - Apr 2025 Operating profit 277.6 202.8 1,246.0 1,171.2 Adjustment for non-cash items 183.6 190.1 771.9 778.5 Interest received 6.3 2.2 20.4 16.3 Interest paid -18.6 -17.8 -70.4 -69.6 Tax paid -71.0 -31.2 -220.1 -180.3 Cash flow from operating activities before changes in working capital 378.0 346.1 1,748.2 1,716.3 Changes in working capital 89.9 67.1 136.6 113.7 Cash flow from operating activities 467.9 413.2 1,884.7 1,830.0 Investments in intangible assets -9.1 -3.5 -36.5 -30.9 Investments in tangible assets -22.4 -29.6 -113.9 -121.2 Acquisition of subsidiaries 5 - - -4.6 -4.6 Sale of equipment - 0.1 -0.0 0.1 Cash flow from investing activities -31.5 -33.1 -155.0 -156.6 Repayment of lease liabilities -130.6 -132.7 -557.2 -559.3 Dividend to shareholders - - -269.5 -269.5 Cash flow from financing activities -130.6 -132.7 -826.7 -828.8 Cash flow for the period 305.8 247.4 903.0 844.7 Cash and cash equivalents at the start of the period 1,010.7 170.7 417.4 170.7 Exchange rate differences in cash and cash equivalents 1.0 -0.7 -2.9 -4.7 Cash and cash equivalents at the end of the period 1,317.5 417.4 1,317.5 1,010.7 3 Months LTM May 2025 May 2024 MSEK - Jul 2025 - Jul 2024 Equity brought forward 2,400.3 1,849.3 Employee stock option plan: Value of employees' service 4.9 2.6 Comprehensive income for the period 218.5 134.8 Equity carried forward 2,623.7 1,986.7 Of which equity attributable to non-controlling interests 0.0 0.0
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 11 Parent Company income statement and statement of comprehensive income Parent Company condensed statement of financial position LTM Full year May 2025 May 2024 Aug 2024 May 2024 MSEK - Jul 2025 - Jul 2024 - Jul 2025 - Apr 2025 Net sales 2,179.2 1,982.5 9,087.7 8,890.9 Goods for resale -1,380.6 -1,277.7 -5,782.1 -5,679.2 Personnel expenses -354.2 -336.3 -1,430.0 -1,412.1 Other external expenses -212.2 -194.1 -846.0 -827.8 Depreciation/amortisation of tangible and intangible assets -25.6 -32.2 -120.5 -127.1 Other operating income and expenses - -0.0 -1.6 -1.6 Total expenses -1,972.6 -1,840.3 -8,180.1 -8,047.8 Operating result 206.6 142.2 907.6 843.1 Results from participation in group companies - - 176.3 176.3 Financial income 6.5 2.8 22.8 19.0 Financial expenses -3.8 -3.8 -21.3 -21.2 Profit after financial items 209.4 141.1 1,085.3 1,017.1 Appropriations - - -203.6 -203.6 Profit before tax 209.4 141.1 881.7 813.5 Income tax -45.6 -30.7 -148.7 -133.9 Profit for the period 163.8 110.4 733.0 679.6 - -4.0 -2.3 -6.3 0.0 -4.0 -2.3 -6.3 163.8 106.4 730.7 673.3 Items that have been or may be reclassified subsequently to income statement: Change in fair value of financial assets Other comprehensive income, net of tax Comprehensive income for the period 3 Months Parent statement of comprehensive income 31 Jul 31 Jul 30 Apr MSEK 2025 2024 2025 Assets Intangible assets 73.9 77.5 69.7 Tangible assets 434.4 442.8 436.9 Financial assets 537.5 533.5 537.0 Inventories 1,803.8 1,846.7 1,692.7 Current receivables 183.0 229.0 353.6 Cash and cash equivalents 1,260.5 344.5 959.0 Total assets 4,293.2 3,474.0 4,049.1 Equity and liabilities Equity 1,561.7 1,083.9 1,393.0 Untaxed reserves 906.0 708.4 906.0 Non-current liabilities 40.5 40.1 40.5 Current liabilities 1,785.0 1,641.7 1,709.6 Total equity and liabilities 4,293.2 3,474.0 4,049.1
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 12 Key ratios The quarterly overview is available on about.clasohlson.com/en/investors/financial-data/ LTM Full year May 2025 May 2024 Aug 2024 May 2024 - Jul 2025 - Jul 2024 - Jul 2025 - Apr 2025 Sales growth, % 7.3 19.6 10.8 13.6 Organic growth, % 9.8 10.4 10.8 10.5 Gross margin, % 45.7 44.3 45.9 45.6 Operating margin, % 9.9 7.7 10.5 10.1 EBITA, MSEK 281.1 206.2 1,259.8 1,184.9 Return on capital employed, % – – 31.6 30.7 Return on equity, % – – 41.0 41.0 Equity/assets ratio, % 37.2 32.3 37.2 37.0 Equity/assets ratio, excl IFRS 16, % 51.5 46.2 51.5 51.0 Net debt/EBITDA – – 0.3 0.4 Net debt/EBITDA, excl IFRS 16 – – -1.0 -0.8 Average number of employees 3,256 3,232 3,097 3,109 Number of Club Clas members (millions) 5.9 5.5 5.9 5.9 Share of Online sales, % 19.2 18.8 19.3 19.2 Store network¹ Share of sales Sweden, % 46.9 46.0 46.3 46.1 Share of sales Norway, % 41.3 39.9 40.6 40.2 Share of sales Finland, % 9.2 9.8 10.1 10.2 Share of sales Other markets, % 2.6 4.3 3.0 3.4 Sales per sq.m in stores, SEK thousand 9.0 8.6 38.1 37.7 Number of stores at period end 241 233 241 241 ¹Spares Group's sales are reported under each geographic market Data per share Number of shares before dilution 63,452,804 63,357,289 63,441,290 63,417,215 Number of shares after dilution 63,911,214 63,480,295 63,880,305 63,810,628 Number of shares at period end 63,452,804 63,357,289 63,452,804 63,452,804 Earnings per share before dilution, SEK 3.27 2.30 14.88 13.91 Earnings per share after dilution, SEK 3.25 2.30 14.78 13.82 Comprehensive income per share, SEK 3.44 2.13 14.00 12.69 Cash flow per share*, SEK 7.37 6.52 29.71 28.86 Equity per share, SEK 41.35 31.36 41.35 37.83 3 Months *From operating activities
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 13 Notes to consolidated financial statements Note 1 Accounting policies Clas Ohlson applies International Financial Reporting Standards (IFRS) as well as interpretations from the IFRS Interpretations Committee (IFRS IC) adopted by the EU. This interim report has been prepared in accordance with the Swedish Annual Accounts Act, IAS 34 Interim Financial Reporting, and RFR 1 Supplementary Accounting Rules for Groups. Disclosures according to IAS 34 Interim Financial Reporting are provided both in notes and elsewhere in the interim report. The parent company's reporting is prepared according to the Swedish Annual Accounts Act and the Swedish Financial Reporting Board's recommendation RFR 2, accounting for legal entities. The same accounting principles as for the Group are applied except in cases specified under the section "Parent Company’s Accounting Principles" in the Annual Report for 2024/25. For the Group's financial statements, the same accounting principles and calculation methods are applied as in the Annual Report for 2024/25. No new or revised IFRS standards and interpretations that apply from May 1, 2025, have had any significant effect on the Group's financial reports. Change in the presentation of the financial statements In conformity with IAS 1 “Presentation of Financial Statements”, Clas Ohlson Group has revised its presentation of income statement from the function of expense method to the nature of expense method. The change will be effective from this interim report. This change has been made to better reflect how management reviews and manages operational performance, meaning simplified processes and ways of working. Furthermore, this is expected to enable clearer information regarding significant cost categories. To ensure comparability, the income statement for comparative period and quarters 2024/25 have been restated to reflect this change. Restated figures are presented below, as well as for additional periods and for the parent company on Clas Ohlson’s website about.clasohlson.com The switch from the function of expense method to nature of expense method has no impact on Clas Ohlson’s net sales and operating result, and consequently no impact on the company’s financial targets. The main effects are attributable to the reallocation of sourcing and supply costs and affects gross margin. Costs related to the handling and distribution of products were previously included in cost of goods sold under the function of expense method. Following the transition, these costs have been reallocated primarily to the categories of personnel expenses, other external expenses, and depreciation/amortisation and impairment of tangible and intangible assets. 2024/25 2024/25 Q4 Q3 Q2 Q1 Full year Feb 2025 Nov 2024 Aug 2024 May 2024 May 2024 MSEK (Restated) - Apr 2025 -Jan 2025 -Oct 2024 - Jul 2024 - Apr 2025 Net sales 2,343.0 3,859.5 2,800.9 2,623.2 11,626.7 Goods for resale -1,220.9 -2,128.3 -1,511.0 -1,460.6 -6,320.8 Personnel expenses -582.4 -671.1 -551.5 -535.8 -2,340.7 Other external expenses* -246.6 -317.3 -242.7 -236.9 -1,043.6 Depreciation/amortisation of tangible and intangible assets* -184.0 -189.3 -187.2 -187.3 -747.7 Other operating income and expenses -0.7 -1.0 -1.2 0.1 -2.7 Total expenses -2,234.5 -3,307.0 -2,493.6 -2,420.5 -10,455.5 Operating result 108.5 552.5 307.4 202.8 1,171.2 Financial income 5.9 6.1 2.1 2.2 16.3 Financial expenses -17.4 -17.2 -17.2 -17.8 -69.6 Profit after financial items 97.0 541.5 292.2 187.1 1,117.9 Income tax -17.2 -115.1 -62.1 -41.3 -235.7 Profit for the period 79.8 426.4 230.1 145.8 882.2 Profit for the period attributable to: Owners of the Parent Company 79.8 426.4 230.1 145.8 882.2 Non-controlling interests - - - - - *Depreciation for the third quarter has been reclassified by 7.5 MSEK to -189.3 MSEK, compared to the previously reported amount of -196.8 MSEK. The reclassification has resulted in a corresponding adjustment to other external costs. This reclassification has had no impact on the quarterly result.
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 14 2024/25 2024/25 Q4 Q3 Q2 Q1 Full year Feb 2025 Nov 2024 Aug 2024 May 2024 May 2024 Gross profit, MSEK - Apr 2025 -Jan 2025 -Oct 2024 - Jul 2024 - Apr 2025 Net sales 2,343.0 3,859.5 2,800.9 2,623.2 11,626.7 Goods for resale -1,220.9 -2,128.3 -1,511.0 -1,460.6 -6,320.8 Gross profit 1,122.1 1,731.2 1,289.9 1,162.7 5,305.9 Gross margin, % Gross profit 1,122.1 1,731.2 1,289.9 1,162.7 5,305.9 Net sales 2,343.0 3,859.5 2,800.9 2,623.2 11,626.7 Gross margin 47.9% 44.9% 46.1% 44.3% 45.6% Note 2 Risks and uncertainties Clas Ohlson's operations involve exposure to risks that, to varying degrees, can negatively impact the Group. These risks are categorized as strategic, operational, financial and sustainability risks. The risk landscape can change rapidly, and work is continuously being done to update risk assessments and ensure effective management. Through proactive risk management, risks can be transformed into opportunities and contribute value to the business. For a detailed description of the Group's significant risk and uncertainty factors, please refer to the section 'Risks and Uncertainties' in the Annual Report for 2024/25, pages 55-59. During the quarter, no significant changes have occurred in the Group's risk profile.
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 15 Note 3 Segment reporting and distribution of sales The Group’s operations are divided into segments based on how the Group’s senior executives follow up performance and assigns resources. As of financial year 2023/24, Clas Ohlson Group comprises one retail segment. The categorization reflects the Group’s organization and shared processes such as purchasing, logistics, sales, etc. Internal monthly follow up focuses on the Group as a whole, with complementary geographic sales and non-current assets information. The performance measure presented represent the key performance measures by which the operations are evaluated. Note 4 Other operating income and operating expenses May 2025 May 2024 MSEK - Jul 2025 - Jul 2024 Net sales 2,814.5 2,623.2 Net sales by geographic markets: Sweden 1,320.0 1,206.8 Norway 1,162.7 1,046.4 Finland 259.4 257.9 Other markets 72.3 112.1 Net sales by stores and online: Stores 2,272.7 2,129.6 Online 541.8 493.6 Depreciation, amortisation and write-down: intangible and tangible assets -41.8 -49.0 Depreciation: right-of use assets -139.2 -138.3 Operating profit 277.6 202.8 Net financial items -12.3 -15.6 Profit after financial items 265.3 187.1 Tax -57.6 -41.3 Profit for the period 207.7 145.8 Assets Non-current assets (excl. deferred tax) 2,953.3 2,856.4 Sweden 1,968.0 1,679.0 Norway 748.3 867.0 Finland 235.2 304.9 Other countries 2.0 5.5 Current assets 4,032.9 3,220.2 Investments Intangible assets -9.1 -3.5 Tangible assets -22.4 -29.6 3 Months Segment Retail LTM Full year May 2025 May 2024 Aug 2024 May 2024 MSEK - Jul 2025 - Jul 2024 - Jul 2025 - Apr 2025 Other operating income Profit on sale of tangible assets - 0.1 0.1 0.2 Total - 0.1 0.1 0.2 Other operating expenses Loss on sale or disposal of tangible assets -0.1 -0.0 -3.0 -2.9 Total -0.1 -0.0 -3.0 -2.9 3 Months
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 16 Note 5 Business acquisitions No acquisitions were made during the financial year. During the fiscal year 2023/24, Spares Europe AB and its subsidiaries were acquired. At the acquisition date, 91.4% of the shares in Spares Europe AB were acquired. A call and put option for the remaining shares was agreed upon, which can be exercised by either Clas Ohlson or the other shareholders after the financial year 2025/26. Consequently, a liability to the other shareholders amounting to 40.5 MSEK has been recognized, as detailed in Note 6. Note 6 Financial Instruments The valuation at fair value is determined based on the valuation levels in IFRS 13: Level 1 (quoted market prices), Level 2 (observable data), and Level 3 (unobservable inputs). Financial assets and liabilities Derivatives and hedging instruments Derivatives and hedging instruments consists entirely of forward contracts used for hedging purposes. All derivatives are measured at fair value, determined by using the exchange rate for currency forwards on the balance sheet date (Level 2). Forward contracts are continuously entered into with a maturity of three to nine months. The company hedges half of the expected flow in each currency on an ongoing basis. Forward contracts with negative market values are reported under current liabilities, while forward contracts with positive market values are reported under current assets. Forward contracts As of the balance sheet date, outstanding cash flow hedges existed as shown in to the following table per currency pair. Currency hedging results Spot exchange rates during the quarter for key currencies averaged 0.94 for NOK and 9.60 for USD compared with 0.99 and 10.63 respectively in the year-earlier period. Currency hedging in NOK that expired during the quarter resulted in a positive impact of 12 MSEK (-4) on earnings. Currency hedging in USD resulted in a increase of inventory value by 27 MSEK (-4). 31 Jul 31 Jul MSEK Level 2025 2024 Financial assets measured at fair value Shares Mathem 3 0.0 2.3 Derivatives and hedging instruments 2 3.7 12.9 Financial liabilities measured at fair value Derivatives and hedging instruments 2 25.2 1.6 Financial liabilities measured at amortised cost Call and put option* 40.5 40.1 *The acquisition of Spares Group 31 Jul 31 Jul Sell/buy 2025 2024 NOK/SEK -4.4 1.0 NOK/USD -17.1 10.2 Total -21.5 11.2 The amount for forward contracts NOK/USD are allocated as follows: NOK/SEK -1.4 1.0 SEK/USD -15.7 9.2 Total -17.1 10.2
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 17 Alternative performance measures Below is a reconciliation of alternative performance measures (APMs), which are not defined in accordance with IFRS, to the closest reconcilable items in the financial statements. Clas Ohlson believes that the APMs are relevant to the users of the financial statements as a supplement to assess Clas Ohlson's performance. Management uses these APMs to evaluate current operations compared with previous results, for internal planning and forecasting, and for calculating certain performance-related remuneration. The presentation of APMs has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial measures prepared in accordance with IFRS. The APMs presented in this quarterly report may differ from similarly titled measures used by other companies. Key ratio Definition Purpose Return on equity Net profit for the period expressed as a percentage of average equity. Average equity is calculated as the total equity for the most recent 12 months divided by 12. Return on equity is a measure of profitability in relation to the book value of equity. Return on equity is also a measure of how investments are used to generate increased income. Return on capital employed Operating profit plus financial income expressed as a percentage of average capital employed. Average capital employed is calculated as the total capital employed for the most recent 12 months divided by 12. Return on capital employed is a measure of profitability after taking into account the amount of capital used. A higher return on capital employed indicates that capital is being used more efficiently. Gross margin Gross profit divided by net sales for the period. The gross margin shows the difference between net sales and the cost of goods sold as a percentage of net sales. The gross margin is affected by a number of factors, such as product mix, price developments and cost changes. Gross profit Gross profit is calculated as the total of net sales less cost of goods for resale. Gross profit shows the difference between net sales and cost of goods for resale. Gross profit is affected by a number of factors, such as product mix, price developments and cost changes. EBITDA Operating profit/loss before interest, tax, depreciation and amortisation. EBITDA shows profitability before depreciation, amortisation, interest and income tax. EBITDA excl IFRS 16 Operating profit/loss before interest, tax, impairment, depreciation and amortisation excluding effect on operating expenses according to IFRS 16. Facilitates comparability of the operational performance excluding the accounting effects arising from the application of IFRS 16. EBITA Operating profit before interest, tax, impairment and amortisation of acquisition related intangible assets. EBITA shows profitability before amortisation and impairment of acquisition-related intangible assets, interest and income tax. Equity per share Equity divided by the number of shares outstanding at the end of the period. Equity per share measures a company's net worth per share and determines whether a company is increasing shareholder wealth over time. Free cash flow Cash flow after investing activities including amortisation of lease liabilities. Free cash flow provides a measure of the current net flow from operating activities, to be used for future investments, dividends, etc. Sales growth Net sales in relation to net sales during the year-earlier period. The change in net sales reflects the company's realised sales growth over time. Online sales growth Online net sales in relation to online net sales during the year-earlier period. The change in online net sales reflects the company's realised online net sales growth over time.
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 18 Key ratio Definition Purpose Cash flow from operating activities per share Cash flow from operating activities divided by the average number of shares before dilution. Cash flow from operating activities per share measures the cash flow generated by the company per share before capital expenditure and cash flows attributable to the company's financing. Net debt Interest-bearing liabilities less cash and cash equivalents. Net debt shows the company's indebtedness over time. Net debt excl IFRS 16 Interest-bearing liabilities excluding interest-bearing lease liabilities less cash and cash equivalents. Facilitates comparability of the operational performance excluding the accounting effects arising from the application of IFRS 16. Net debt/EBITDA Net debt divided by EBITDA for the last 12 months. Net debt/EBITDA measure the Group’s financial strength and its ability to manage debt in relation to operating cash flow generation. Net debt/EBITDA excl. IFRS 16 Net debt divided by EBITDA for the last 12 months, excluding interest-bearing lease liabilities and the impact on operating expenses related to IFRS 16. Facilitates comparability of operational performance by excluding accounting effects arising from IFRS 16. Organic growth Sales growth in local currencies, excluding acquisitions. Facilitates comparability of sales between periods. Working capital The total of current assets, minus cash and cash equivalents (inventories and current receivables), less current non-interest bearing liabilities. Working capital is used to measure the firm's ability to meet short-term capital requirements. Operating margin Operating profit divided by net sales for the period. The operating margin shows the operating profit as a percentage of net sales and indicates the operational profitability. Operating profit excl IFRS 16 Operating profit comprises profit before financial items and tax excluding effects on operating expenses according to IFRS 16. Facilitates comparability in analyses that include years before IFRS 16 was applied. Equity/assets ratio Equity at the end of the period divided by the balance sheet total (total assets). A high equity/assets ratio provides the financial room for manoeuvre and independence needed to conduct business and manage fluctuations in working capital, as well as the ability to take advantage of business opportunities. Equity/assets ratio excl IFRS 16 Equity at the end of the period divided by the balance sheet total (total assets) excluding effects relating to equity and interest bearing lease assets according to IFRS 16. Facilitates comparability of the operational performance excluding the accounting effects arising from the application of IFRS 16. Capital employed Balance sheet total (total assets) less current liabilities and non-current liabilities, non-interest bearing liabilities. Capital employed measures a company's ability to meet the needs of its business beyond cash and cash equivalents. Total comprehensive income Total comprehensive income divided by average number of shares before dilution. Total comprehensive income per share shows the total comprehensive income in relation to the average number of shares before dilution Earnings per share (before and after dilution) Profit for the period divided by the number of shares (before and after dilution). Defined in accordance with IFRS.
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 19 R12 Helår May 2025 May 2024 Aug 2024 May 2024 Return on equity, % - Jul 2025 - Jul 2024 - Jul 2025 - Apr 2025 Net profit for the period, MSEK – – 944.1 882.2 Average equity, MSEK – – 2,303.0 2,150.9 Return on equity – – 41.0% 41.0% 3 Months Return on capital employed, % Operating profit, MSEK – – 1,246.0 1,171.2 Interest income, MSEK – – 20.4 16.3 Average capital employed, MSEK – – 4,012.0 3,873.3 Return on capital employed – – 31.6% 30.7% Gross margin, % Gross profit, MSEK 1,286.2 1,162.7 5,429.4 5,305.9 Net sales, MSEK 2,814.5 2,623.2 11,817.9 11,626.7 Gross margin 45.7% 44.3% 45.9% 45.6% Gross profit, MSEK Net sales 2,814.5 2,623.2 11,817.9 11,626.7 Goods for resale -1,528.3 -1,460.6 -6,388.5 -6,320.8 Gross profit 1,286.2 1,162.7 5,429.4 5,305.9 Equity per share, SEK Total equity, MSEK 2,623.7 1,986.7 2,623.7 2,400.3 Number of shares at end of period (millions of share) 63.45 63.36 63.45 63.45 Equity per share 41.35 31.36 41.35 37.83 EBITDA, MSEK Operating profit 277.6 202.8 1,246.0 1,171.2 Depreciation, amortisation and write-down 181.0 187.3 741.4 747.7 EBITDA 458.6 390.0 1,987.5 1,918.9 EBITDA excl IFRS 16, MSEK Operating profit excl IFRS 16 261.6 185.6 1,171.5 1,095.5 Depreciation, amortisation and write-down excl IFRS 16 41.8 49.0 185.9 193.1 EBITDA excl IFRS 16 303.4 234.6 1,357.4 1,288.6 EBITA, MSEK Operating profit 277.6 202.8 1,246.0 1,171.2 Amortisation on acquisition-related intangible assets 3.5 3.5 13.8 13.8 EBITA 281.1 206.2 1,259.8 1,185.0 Free cash flow, MSEK Cash flow from operating activities 467.9 413.2 1,884.7 1,830.0 Cash flow from investing activities -31.5 -33.1 -155.0 -156.6 Lease payments -130.6 -132.7 -557.2 -559.3 Free cash flow 305.8 247.4 1,172.5 1,114.1 Net sales growth, % Net sales actual period, MSEK 2,814.5 2,623.2 11,817.9 11,626.7 Net sales previous period, MSEK 2,623.2 2,193.1 10,662.0 10,231.9 Net sales growth 7.3% 19.6% 10.8% 13.6%
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 20 R12 Helår May 2025 May 2024 Aug 2024 May 2024 Net sales growth online, % - Jul 2025 - Jul 2024 - Jul 2025 - Apr 2025 Net sales online actual period, MSEK 541.8 493.6 2,279.2 2,231.0 Net sales online previous period, MSEK 493.6 253.1 1,793.7 1,553.2 Net sales growth online* 9.8% 95.0% 27.1% 43.6% 3 Months *As from November 2024, acquired net sales from the Spares Group are included Cash flow from operating activities per share, SEK Cash flow from operating activities, MSEK 467.9 413.2 1,884.7 1,830.0 Number of shares before the dilution (millions of share) 63.45 63.36 63.44 63.42 Cash flow from operating activities per share 7.37 6.52 29.71 28.86 Net debt, MSEK Interest bearing liabilities - - 1,883.8 1,701.3 Cash and cash equivalents - - 1,317.5 1,010.7 Total Net debt - - 566.2 690.6 Net debt excl IFRS 16, MSEK Interest bearing liabilities excl lease liabilities - - 0,0 0,0 Cash and cash equivalents - - 1,317.5 1,010.7 Total Net debt excl IFRS 16 - - -1,317.5 -1,010.7 Net debt/EBITDA ratio Net debt, MSEK - - 566.2 690.6 EBITDA, MSEK - - 1,987.5 1,918.9 Total Net debt/EBITDA - - 0.3 0.4 Net debt/EBITDA excl IFRS 16 ratio Net debt excl IFRS 16, MSEK - - -1,317.5 -1,010.7 EBITDA excl IFRS 16, MSEK - - 1,357.4 1,288.6 Total Net debt/EBITDA excl IFRS 16 - - -1.0 -0.8 Organic growth, % Net sales (recalculated to the previous year's exchange rate), MSEK 2,880.5 2,422.0 11,200.9 10,921.7 Net sales previous period, MSEK 2,623.2 2,193.1 10,104.6 9,884.6 Organic growth* 9.8% 10.4% 10.8% 10.5% *As from November 2024, Spares Group's monthly sales are included in the organic growth Working capital, MSEK Total current assets 4,032.9 3,220.2 4,032.9 3,608.0 -Cash and cash equivalents -1,317.5 -417.4 -1,317.5 -1,010.7 -Current liabilities, non-interest bearing -2,315.9 -2,219.9 -2,315.9 -2,150.1 Working capital 399.5 582.9 399.5 447.2
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FINANCIAL STATEMENTS CLAS OHLSON INTERIM REPORT Q1 2025/26 21 R12 Helår May 2025 May 2024 Aug 2024 May 2024 Operating margin, % - Jul 2025 - Jul 2024 - Jul 2025 - Apr 2025 Operating profit, MSEK 277.6 202.8 1,246.0 1,171.2 Net sales, MSEK 2,814.5 2,623.2 11,817.9 11,626.7 Operating margin 9.9% 7.7% 10.5% 10.1% 3 Months Operating profit excl IFRS 16, MSEK Operating profit 277.6 202.8 1,246.0 1,171.2 IFRS 16-effect -16.0 -17.2 -74.5 -75.7 Operating profit excl IFRS 16 261.6 185.6 1,171.5 1,095.5 Equity/assets ratio, % Total equity, MSEK 2,623.7 1,986.7 2,623.7 2,400.3 Total assets, MSEK 7,059.9 6,148.7 7,059.9 6,488.9 Equity/Assets ratio 37.2% 32.3% 37.2% 37.0% Equity/assets ratio excl IFRS 16, % Total equity excl IFRS 16, MSEK 2,709.6 2,081.6 2,709.6 2,483.3 Total assets excl IFRS 16, MSEK 5,262.0 4,502.0 5,262.0 4,870.7 Equity/assets ratio excl IFRS 16 51.5% 46.2% 51.5% 51.0% Capital employed, MSEK Total assets 7,059.9 6,148.7 7,059.9 6,488.9 Non-current liabilities, non-interest bearing -236.5 -200.5 -236.5 -237.2 Current liabilities, non-interest bearing -2,315.9 -2,219.9 -2,315.9 -2,150.1 Capital employed 4,507.5 3,728.3 4,507.5 4,101.6 Total comprehensive income per share, SEK Total comprehensive income for the period, MSEK 218.5 134.8 888.5 804.8 Average number of shares before dilution (millions of share) 63.45 63.36 63.44 63.42 Total comprehensive income per share 3.44 2.13 14.00 12.69 Earnings per share (before and after dilution), SEK Net profit for the period, MSEK 207.7 145.8 944.1 882.2 Number of shares before dilution (millions of share) 63.45 63.36 63.44 63.42 Number of shares after dilution (millions of share) 63.91 63.48 63.88 63.81 Number of shares before dilution 3.27 2.30 14.88 13.91 Number of shares after dilution 3.25 2.30 14.78 13.82
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THE SHARE CLAS OHLSON INTERIM REPORT Q1 2025/26 22 The share Clas Ohlson Series B shares have been listed on Nasdaq Stockholm since 1999 and are included in the Consumer Services sector index. On 31 July 2025, the share price was SEK 341 and the total market capitalisation amounted to 21,637 MSEK. Number of shares The number of registered shares totalled 65,600,000 (5,760,000 Series A shares and 59,840,000 Series B shares), unchanged from the preceding year. On 31 July 2025 the company held 2,147,196 shares (2,242,711) corresponding to 3.3 per cent of the total number of registered shares. At the end of the period, the number of shares outstanding, net after buy- back, was 63,452,804 (63,357,289). Dividend policy Clas Ohlson’s dividend policy is that the dividend is to comprise at least 50 per cent of earnings per share after tax, taking into account the company’s financial position. The board proposes a dividend for the financial year 2024/25 of SEK 7 per share, divided into two payments of SEK 3.50 respectively. Payment is proposed to take place in September and January. Largest shareholders per 31 July 2025 Owner CLAS A CLAS B Capital Votes Haid family 3,023,880 11,837,913 22.7% 35.8% Tidstrand family 2,736,120 6,704,828 14.4% 29.0% Nordea Funds 6,299,747 9.6% 5.4% American Century Investment Management 1,665,219 2.5% 1.4% Swedbank Robur Fonder 1,500,478 2.3% 1.3% Total top 5 5,760,000 28,008,185 51.5% 72.9% Other shareholders 31,831,815 48.5% 27.1% Total 5,760,000 59,840,000 100.0% 100.0% Shares owned by Clas Ohlson 2,147,196 3.3% 1.8% Share data Listing Nasdaq Stockholm Mid Cap Ticker Clas B Industry Consumer Services ISIN code SE0000584948
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CLAS OHLSON I KORTHET Update on store network Clas Ohlson’s ongoing review of the store network takes into consideration the market conditions, new customer behaviour patterns, demand projections and contracts signed with property owners. On the reporting date, the number of contracted forthcoming store openings was 5 and the total number of stores was 241 (232). Openings/closings after the reporting period • Norway, Namsos, Bråholmen Handelspark, scheduled to open 11 September 2025 • Norway, Stavanger, Jærhagen, scheduled to open October 2025 • Finland, Vantaa, Tammisto, scheduled to open October 2025 • Norway, Os, Amfi Os, scheduled to open spring 2026 • Sweden, Kalmar, Kvarteret Giraffen, scheduled to open spring 2026 Stores per market on the reporting date Sweden 104 Norway 100 Finland 37 This is information that Clas Ohlson AB (publ) is obliged to publish pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out below, on 10 September 2025 at 7:00 a.m. (CEST). This Year-end Report is an English translation of the Swedish original. In the event of any discrepancies, the Swedish version shall govern. Financial calendar Q1 presentation 10 September 09.00 CEST The report will be presented at 9:00 a.m. via a webcast teleconference. For more information, visit https://about.clasohlson.com 12 September 2025 Annual General Meeting Contact person: Niklas Carlsson, Head of Communications and IR, +46 247 444 29, niklas.carlsson@clasohlson.se 10 December 2025 Six-month Report 2025/26 11 March 2026 Nine-month Report 2025/26 3 June 2026 Year-end Report 2025/26