Slides
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Nelly Group INVESTOR PRESENTATION Q 3 2 0 2 5 2 3 O c t o b e r 2 0 2 5
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Nelly Group Q3 2025 Presentation ir@nelly.com www.nellygroup.com Niklas Lingblom CFO Helena Karlinder-Östlundh CEO
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Today’s presentation • Introduction to NELLY • CEO’s comments on Q3 2025 • Financial summary • Q&A
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CEO’s comments Q3 2025 • High growth & solid profitability • Growing customer base & stronger brand position • Further improvement driven by assortment & effective marketing
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High growth & solid profitability • Net revenue growth 18.4% (1.4%) • Operating margin 15.3% (10.5%) • Operating profit 43.3 MSEK (25.1) • Consistent focus on expanding the profitable core business
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Winning more new and returning customers Growth in active customers • 4th consecutive quarter with active customer growth • New customer acquisition accelerated • More customers returned • NELLY brand is gaining traction 1070 1055 1032 973 943 926 911 926 928 968 1001 900 950 1000 1050 1100 1150 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 Active customers Nordics LTM (000)
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Leading assortment in key categories Growth in own brand share • 62.2% (45.2%) • Leading assortment in jeans and sneakers • Growth in knitwear, pants and shoes • Combining our own products with the best global brands 36% 41% 39% 36% 40% 44% 45% 47% 50% 55% 62% 30% 35% 40% 45% 50% 55% 60% 65% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 Own brand share (%)
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Return rate always in focus Further improvement • 26.1% (27.1%) • Constant focus required to protect • Handling of returns moved in-house • Further initiatives underway • Key as we expand our presence in other markets 38% 38% 34% 33% 33% 31% 27% 28% 25% 28% 26% 23% 28% 33% 38% 43% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 Return Rate (%)
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Gross margin improvement Healthy development • 56.8% (54.5%) • Positively impacted by growth in own brand share • Testament to our strong assortment 41% 49% 51% 50% 49% 55% 55% 53% 52% 55% 57% 35% 40% 45% 50% 55% 60% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 Gross margin (%)
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Long-term ambitions going forward Targeted growth initiatives • Assortment the most important growth driver • New global brands elevate our offering • Expanding our presence in markets with strong growth potential NELLY Flagship store Copenhagen
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CEO’s comments Q3 2025 • High growth & solid profitability • Growing customer base & stronger brand position • Further improvement driven by assortment & effective marketing
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Agenda • Introduction to NELLY • CEO’s comments on Q3 2025 • Financial summary • Q&A
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Accelerated growth rate in the third quarter 234 289 236 302 222 314 240 318 248 362 284 0 50 100 150 200 250 300 350 400 Q1 Q2 Q3 Q4 Net revenue (SEK million) 2023 2024 2025 +15.1% +11.5% +18.4%
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Solid operating profit and operating margin -34 8 13 24 1 30 25 36 20 55 43 -20% -15% -10% -5% 0% 5% 10% 15% 20% -40 -30 -20 -10 0 10 20 30 40 50 60 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 Operating profit/loss (SEK million) and Operating margin (%)
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Operating profit & margin LTM at record highs -66 -40 -15 11 46 69 81 93 112 137 155 -10% -5% 0% 5% 10% 15% 20% -100 -50 0 50 100 150 200 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 Operating profit/loss LTM (SEK million) and Operating margin LTM (%)
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(SEK million) Q3 25 Q3 24 Net revenue 283.7 239.6 Gross profit 161.2 130.7 Gross margin 56.8% 54.5% Warehousing and distribution costs -31.3 -28.0 Marketing costs -26.8 -23.8 Admin and other operating expenses -59.9 -53.8 Operating profit 43.3 25.1 Operating margin 15.3% 10.5% Q3 2025 – Income statement +18.2 Δ = delta vs. LY +30.5 -3.3 -3.0 -6.1
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Q3 2025 – Additional financial KPIs Healthy balance sheet • Operating cash flow in line with last year • Inventory build-up ahead of Q4 • Investments in IT infrastructure • Solid equity ratio and cash balance -54 77 -14 50 -5 106 -19 72 -13 104 -19 -80 -60 -40 -20 0 20 40 60 80 100 120 Q1 Q2 Q3 Q4 Cash flow from operations (SEK million) 2023 2024 2025
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Q&A
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Thanks!