Q4 2025 Nelly Group AB (publ) Earnings Call Transcript
Key Points
- Nelly Group AB (FRA:CD20) achieved a net revenue growth of 16.4% in Q4 2025, compared to 5.5% in the same quarter last year.
- The company reported an operating profit of SEK47.8 million in Q4 2025, up from SEK36.2 million in the same quarter last year, with an improved operating margin of 12.9%.
- For the full year 2025, net revenue grew by 15.5%, and operating profit increased to SEK166.4 million, with an operating margin of 13.2%.
- The active customer base in the Nordics grew for the fifth consecutive quarter, driven by higher conversion rates.
- Nelly Group AB (FRA:CD20) achieved a historically low return rate of 22.8% in Q4 2025, down from 27.9% in the same quarter last year, positively impacting results.
- The market was challenging due to high price sensitivity among customers, leading to a preference for value-priced items and fewer items per basket.
- Intense discounting across the fashion segment, particularly in November, impacted the operating environment.
- An unusually warm start to the winter affected demand for seasonal categories like jackets and boots, requiring higher marketing intensity and discounts.
- The average order value decreased by 9.6% in the Nordics due to lower average item value and fewer items per order.
- Currency effects, particularly the depreciation of the Norwegian krone, negatively impacted the growth rate and gross margin.
Welcome to Nelly Group full-year report 2025. Today, I am pleased to present CEO, Helena Karlinder-Ostlundh; and CFO, Niklas Lingblom. (Operator Instructions)
Now I will hand over to Helena Karlinder-Ãstlundh. Please go ahead.
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Thank you very much, and welcome to our results presentation for the fourth quarter of 2025 and of course, also looking at 2025 as a whole. My name is Helena Karlinder-Ãstlundh. I am the CEO of Nelly Group, and I will be hosting today's call together with our CFO here at Nelly Group, Niklas Lingblom.
So first, as usual, let me start off by briefly giving you an overview of today's presentation. So we will once again start with a short introduction to the Nelly business in the form of a video. I will then provide some comments on the fourth quarter of 2025. And also, as I mentioned, briefly commenting on the full-year 2025. I will then hand over to Niklas, who will provide us with a
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