Half Year 2026 Pierce Group AB (publ) Earnings Call Transcript
Key Points
- Adjusted EBIT improved to SEK34 million in Q2 2026, with margin up to 6.4% from 6.2% year-over-year.
- Sales reached an all-time high of SEK537 million in Q2, growing 3% year-over-year despite operational disruptions.
- Strong financial position with SEK319 million in cash and an undrawn SEK150 million credit facility.
- Pierce 2.0 transformation has driven a 90% increase in sales per white-collar FTE, demonstrating scalability.
- Expansion into new markets and verticals (mountain bike, scooter) shows promising early results with minimal additional resources.
- WMS transition caused significant operational challenges, including a two-day sales backlog and reduced availability, impacting Q2 sales and costs.
- Gross margin declined to 43.1% from 43.7% due to mix effects and active pricing strategy.
- Private brand share fell to 35% from 37% a year ago, with growth slower than targeted due to product portfolio changes.
- Transformation costs of approximately SEK6 million in Q2 and expected to continue, delaying full EBIT improvement.
- E-commerce platform rollout is behind schedule, with larger markets delayed to December/January to avoid disrupting Black Friday sales.
Welcome to Pierce Group Q2 Report 2026 presentation. (Operator Instructions)
Now I will hand the conference over to the speaker, CEO, Goran Dahlin; and CFO, Fredrik Kjellgren. Please go ahead.
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Good morning, everyone, and welcome to Pierce Group's presentation of our results for the second quarter of 2026. I'm Goran Dahlin, CEO of Pierce Group and I'm joined today by Fredrik Kjellgren, our CFO. And thank you for joining us.
So today we will begin with a brief recap of who we are and where we stand in the European market, followed by a summary of our financial performance in the quarter. Then we will provide updates on our ongoing transformation and strategic initiatives before we look ahead to our outlook and growth drivers for the coming quarters. We'll close with a Q&A session at the end.
Pierce Group, we are Europe's number one online destination for motorcycle gear and equipment. We were founded in 2008. And we are the leading
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