Q2 2026 Europris ASA Earnings Call Transcript
Key Points
- Europris ASA (FRA:2RG) reported a sales growth of 3.8% for the first half of 2026, with a 4.4% increase in constant currency.
- Norway showed strong performance with a like-for-like sales growth of 5.7%, driven by high footfall and volume-led basket growth.
- The gross margin improved due to product mix changes and unrealized currency effects, contributing to a 20.7% increase in EBIT for the first half.
- The turnaround project in Sweden is progressing well, with a 10% sales growth in non-food products, enhancing the gross margin.
- Store remodelings in Sweden have been successful, with 28 stores upgraded, leading to higher sales and better margins compared to legacy stores.
- Total sales in the second quarter decreased by 2.8%, impacted by the timing of Easter, which negatively affected sales by approximately 4.5 percentage points.
- The reduction in average price per item due to price-conscious consumers has put pressure on operating costs, particularly in distribution and handling.
- In Sweden, the temporary closure of 24 stores for remodeling negatively impacted sales, contributing to a reported decline of 9.6% in the second quarter.
- Higher operating expenses, driven by increased handling and distribution costs, have affected EBIT, which was lower than last year for the second quarter.
- The deliberate reduction in promotions of low-margin consumables in Sweden led to a decline in footfall and sales, despite improving gross margins.
Good morning, everyone, and welcome to Europris presentation of the second quarter results and the first half of 2026.
My name is Espen Eldal, and as always, joining me on stage today will be CFO Stina Byre, who will present the financial details. And after the presentation, we will host a Q&A session, which will be managed by IR officer, Trine Englokken.
Please feel free to type in your questions as we speak.
And before I start, I would like to make a special welcome to the guests we actually have physically present today. It's very nice that people still show up to these kind of events, that is appreciated.
And I would also like to thank Parietu for hosting the presentation today and the investor meetings we have later on.
I know it's a busy morning. The second quarter reporting season is kicking off today, and I guess that also many of you have started summer holidays. We're going to start it maybe today or tomorrow. So let's get started and jump into the numbers.
Total sales in the second
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