New Wave Group Annual Report 2025 2025 | Page 93

NWG // FINANCIAL INFORMATION
Net sales
Net sales amounted to SEK 10,019 million( 9,529), corresponding to an increase of 5.1 %. In local currencies, sales increased by 9.5 %, of which 5.0 % was organic growth and 4.5 % acquisition-driven growth. Currency translation effects had a negative impact of approximately SEK – 413 million. The acquisition of Cotton Classics contributed positively from September onward.
Sales increased in all regions in local currencies, but currency translation from primarily USD and EUR into SEK resulted in a significant negative effect on reported sales.
The profile channel continued to account for approximately two thirds of total sales, while retail represented one third, in line with the previous year.
Gross profit
The gross margin amounted to 49.0 %( 49.4). The lower margin is attributable to the acquisition of Cotton Classics. Adjusted for acquisitions, the comparable gross margin for 2025 was 50.1 %.
Personnel expenses, external expenses and depreciation
Personnel expenses and external expenses increased compared with 2024. The increase is mainly attributable to:
# Higher personnel expenses due to general salary increases and new initiatives
# Temporary additional costs related to warehouse automation, including additional warehouse space and hired temporary staff
# IT related expenses stemming from investments in the new ERP-system
# Costs related to Cotton Classics, consolidated from September
Depreciation and amortization increased as a result of investments primarily connected to warehouse automation and warehouse facilities.
Five Year Summary
SEK million 2025 2024 2023 2022 2021
Net sales
10,019
9,529
9,513
8,844
6,719
Goods for resale
-5,108
-4,823
-4,730
-4,468
-3,489
Gross profit
4,912
4,706
4,783
4,375
3,229
Other operating income
100
95
131
124
112
External costs
-1,868
-1,749
-1,663
-1,470
-1,068
Personnel costs
-1,534
-1,430
-1,353
-1,205
-1,017
Amortizations, depreciations and write-downs
-339
-308
-263
-249
-227
Other operating costs
-129
-49
-55
-67
-22
Share of associated companies’ result
0
-3
-3
-2
-1
Operating result
1,141
1,262
1,577
1,505
1,006
Net financial items
-108
-129
-138
-55
-43
Result before tax
1,033
1,133
1,439
1,450
963
Tax expense
-250
-254
-320
-281
-203
Result for the year
783
880
1,119
1,169
760
Gross profit margin, %
49.0
49.3
50.3
49.5
48.1
Operating margin, %
11. 4
13.2
16.6
17.0
15.0
Equity ratio, %
53.0
63.7
60.2
53.8
59.6
Net debt to equity ratio, %
45.2
25.0
31.2
39.3
23.2
Net debt in relation to working capital, %
53.0
32.9
37.0
44.4
35.4
Average number of employees
2,603
2,451
2,450
2,312
2,060
Total assets, SEK million
12,883
11,326
10,739
10,944
7,661
ANNUAL REPORT // 093