Slides
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Q1 report 03 September 2026 Kristofer Tonström President & CEO Pernilla Walfridsson CFO 1
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Agenda • Business update • Financial development • Events after the reporting period • Summary • Q&A 2
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3 Highlights Q1 2026/27 ✓ Total sales 3,278 MSEK, organic +11% ✓ Operating profit at 393 MSEK ✓ Operating margin +12.0% ✓ Operating cash flow 663 MSEK (468) ✓ ROCE: 34.9% ✓ EPS: 4.75 SEK (3.27) ✓ Strong start to Q2: +8% organic growth in August
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4 Business update
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The updated financial targets – next three years 5 Operating margin ~12% An operating margin of around 12 per cent per year Dividend policy >50% Dividends are to comprise at least 50 per cent of earnings per share after tax, with consideration to the financial position Sales growth 5% An organic sales growth of 5 per cent per year Return on capital employed (ROCE) of around 30 per cent per year ROCE* ~30% *Operating profit plus financial income as a percentage of average capital employed. Average capital employed is calculated as the sum of capital employed over the last twelve months divided by twelve.
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Strong, growing and profitable e-com Curated multi-niche assortment with A-brands and own brands Our competitive strengths 6 Strong brand with appeal in broad target audience Priority on customer meeting and providing qualified service Store network at attractive and accessible locations High degree of assortment renewal and reinvention Integrated omnichannel
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Successful product launches and strengthened online presence in Q1 7 • Some 30 robotic lawn mowers in the assortment • Scaled up from 5 to 12 brands • Rapid sales growth +18% organic online growth +22% share of sales
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Customer relevance and satisfaction 8 Q: How affordable do you think the following brands are? Source: Clas Ohlson survey, January 2024Q: How affordable do you think the following brands are? Source: Clas Ohlson surveys, August 2026 6% 4% 57% 63% 37% 33% Low price competitors average (SE) Clas Ohlson (SE) Not affordable Neither affordable nor expensive Affordable 0 50000 100000 150000 200000 3 3.5 4 4.5 5 No of reviews Score 1-5 Product reviews Affordability Net promoter score 40 45 50 55 60 NPS
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All consumer missions are growing 9 Spareparts Tidy up & Organise Light up & Decorate Home comfort & Prepping Tech, Connect & Entertain Fix & Repair Adjacent product segments
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10 Financial development
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11 Sales development above targets Total sales, MSEK• Total sales up 16% to 3,278 MSEK, of which 11% organic, 3% acquisitions and 2% currency effects • Online sales up 35% to 734 MSEK, of which 15% acquisitions • The store network increased by 9 stores compared to the previous year Online sales, MSEK Online share of total sales (R12), % Q1 2,623 2,814 3,278 Q1 24/25 Q1 25/26 Q1 26/27 494 542 734 Q1 24/25 Q1 25/26 Q1 26/27 79 21 Stores Online
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Positive development in all markets 12 Sweden Norway Finland Organic growth: Q1: +11% Q1: +10% Q1: +9% 1,207 1,320 1,531 Q1 24/25 Q1 25/26 Q1 26/27 MSEK 1,046 1,163 1,363 Q1 24/25 Q1 25/26 Q1 26/27 MSEK 258 259 284 Q1 24/25 Q1 25/26 Q1 26/27 MSEK
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0.94 0.95 0.94 0.94 0.94 0.94 0.94 0.92 0.92 0.94 0.96 0.98 1.01 0.99 1.001.00 0.99 0.98 0.97 0.96 0.97 0.99 0.98 0.98 0.96 0.95 0.93 0.94 0.95 0.94 0.90 0.92 0.94 0.96 0.98 1.00 1.02 May June July Aug Sept Oct Nov Dec Jan Feb March April May June July 2025/26 2026/27 NOK/SEK Act LY13 Macro trends with business impact 9.14 9.67 8 9 10 11 12 2022 2023 2024 2025 2026 USD/SEK* Factors impacting Clas Ohlson: • Container shipping costs and raw material and commodity prices • Currency effects - sales instant effects and purchasing with a time lag • Hedging policy/effects • Pricing effects * Monthly average, The Riksbank/Nasdaq Proactive measures: • Pricing – continuously optimising prices • Sourcing – diversified sourcing strategy • Flexible freight contracts • Optimise sales mix – private label, product and category mix • Products and packaging * Shanghai Containerised Freight Index Spot prices for 40t containers from Asia to Gothenburg $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 2019-05 2019-07 2019-09 2019-11 2020-01 2020-03 2020-05 2020-07 2020-09 2020-11 2021-01 2021-03 2021-05 2021-07 2021-09 2021-11 2022-01 2022-03 2022-05 2022-07 2022-09 2022-11 2023-01 2023-03 2023-05 2023-07 2023-09 2023-11 2024-01 2024-03 2024-05 2024-07 2024-09 2024-11 2025-01 2025-03 2025-05 2025-07 2025-09 2025-11 2026-01 2026-03 2026-05 2026-07 *
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• Lower purchasing currencies • Improved purchasing prices • Higher sales currency NOK Improved gross margin 14 46.2% 44.3% 45.7% 47.5% 30% 32% 34% 36% 38% 40% 42% 44% 46% 48% 50% Q1 2023/24 Q1 2024/25 Q1 2025/26 Q1 2026/27
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Financial overview 15 Q1 Q1 MSEK 26/27 25/26 Operating profit 393 278 Profit after financial items 383 265 Profit after tax 302 208 EPS before dilution, SEK 4.75 3.27 189MSEK (181 MSEK) Depreciation/amortisation of tangible and intangible assets, Q1 637MSEK (566MSEK) Personnel expenses, Q1 338MSEK (261 MSEK) Other external expenses, Q1 12.0% (9.9%) EBIT margin, Q1
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16 Well balanced inventory • Inventory level: 2,671 MSEK (2,508) at the end of the period MSEK 2,508 2,866 2,281 2,480 2,671 Q1 25/26 Q2 25/26 Q3 25/26 Q4 25/26 Q1 26/27
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Q1 Q1 MSEK 26/27 25/26 Cash flow from operating activities, before change in working capital 512 378 Change in working capital 151 90 Cash flow from operating activities 663 468 Cash flow from investing activities -166 -31 Cash flow from financing activities -133 -131 Cash flow for the period 363 306 17 Solid cash flow and financial position 34.9% (34.1%) ROCE (end of Q1) 600MSEK Of which utilised 0 MSEK Approved credit facilities 363MSEK (306 MSEK) Free cash flow Q1
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18 Events after the reporting period
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19 August sales development • Total sales up 13% to 1,154 MSEK, of which 8% organic, 3% acquisitions and 3% currency effects ‒ Sweden +8% organic ‒ Norway +8% organic ‒ Finland +7% organic ‒ Other markets +9% organic • Store network increased by 9 stores compared to end of August last year MSEKT otal 968 1,017 1,154 Aug 24/25 Aug 25/26 Aug 26/27
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20 Summary
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Clear path to continued growth and value creation 21 Needs-driven product assortment and high customer satisfaction. Well positioned in large and growing product niches. Central store locations, full-scale e-commerce and effective marketing. Strong financial position and focus on increasing earnings per share over time. ~350 BnSEK market size ~85% brand awareness ~30% annual assortment renewal 56 NPS (scale -100 to 100) 250 stores 21% share of online sales 268 395* 1,114 1,268** 22/23 23/24 24/25 25/26 8.8 20.9 30.7 34.1 22/23 23/24 24/25 25/26 2.85 8.03 13.91 18.40 1.50 4.25 7.00 14.00*** 22/23 23/24 24/25 25/26 Free cash flow Return on capital employed, % Earnings per share/ dividend per share, SEK *) free cash flow affected by acquisition of Spares of -436 MSEK **) free cash flow affected by acquisitions of Phonelife and Reservdelaronline of -131 MSEK ***)proposed dividend
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1l Multiple levers to drive sustained compounding growth Leveraging our competitive strengths 22 Assortment Customer meetingBrand Selective M&A • Assortment renewal • New product niches • Private label • Group synergies • Pricing and campaign • New stores and rebuilds • E-com penetration • Profitable omnichannel offering • Customer-centric service culture • Marketing efficiency • Grow in existing and new target audiences • Strong brand assets in the group Operational efficiency
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23 Q&A
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