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Group sales for the first half increased by 3.8%, and together with a higher
gross margin, this resulted in EBIT growth of 20.7%.
Norway had flat sales development in the second quarter, negatively impacted by
the timing of Easter of around 5.5 pp. For the first half, sales increased by
6.0%, driven by higher footfall and volume-led basket growth among price
-conscious consumers. Higher volumes also led to increased distribution and
handling costs.
Sweden had sales decline of 3.9% in local currency in the second quarter,
including a negative timing effect from Easter estimated at around 2.5 pp, in
addition to negative impact from temporary store closures related to the store
remodelling programme. First half sales were up 0.7% in local currency, which
included negative impact from 24 temporary store closures.
As part of ÖoB’s turnaround, the campaign mix has been shifted to less of low
-margin consumables to more of non-food items and seasonal products - weighing
on footfall and sales short-term, but supporting gross margin and basket value.
The Swedish consumers responded positively to the seasonal range that has been
aligned with Europris’ offering in Norway.
Financial highlights - second quarter
· Total sales amounted to NOK 3,694 million (3,802), representing a reported
decrease of 2.8% and 1.1% in constant currency
· Like-for-like sales were down 0.9% for the Europris chain and 3.3% for the
ÖoB chain in local currency
· Gross profit increased to NOK 1,567 million (1,544), with a gross margin of
42.4% (40.6%)
· EBIT declined to NOK 394 million (423), corresponding to an EBIT margin of
10.7% (11.1%)
· Net profit attributable to owners of the parent company amounted to NOK 245
million (276)
· Earnings per share were NOK 1.50 (1.69)
Financial highlights - first half
· Total sales amounted to NOK 6,994 million (6,740), representing a reported
growth of 3.8% and 4.4% in constant currency
· Like-for-like sales were up 5.7% for the Europris chain and 1.5% for the ÖoB
chain in local currency
· Gross profit increased to NOK 2,869 million (2,681), with a gross margin of
41.0% (39.8%)
· EBIT increased to NOK 465 million (386), corresponding to an EBIT margin of
6.7% (5.7%)
· Net profit attributable to owners of the parent company amounted to NOK 249
million (196)
· Earnings per share were NOK 1.52 (1.20)
· Cash flow from operating activities was positive at NOK 427 million
(negative at 40)
· Net debt excluding lease liabilities amounted to NOK 1,627 million (1,843)
Comment from CEO Espen Eldal:
"Europris continues to deliver where it matters most. Norway remains the engine
of the group, driven by volume, footfall and a clear price position - exactly
what we would expect in a market where consumers remain value-conscious. Growth
over the first half confirms that our model is working, even as short-term
effects such as Easter timing move quarterly numbers around.
In Sweden, we are executing a multi-year plan, and the second quarter shows the
plan is on track. Non-food sales are up 10% and the gross margin improves,
exactly the shift we said we would deliver as ÖoB moves toward the categories
where we can win profitably. With 28 of 92 stores now remodelled, and close to
half by Christmas, the foundation for sustained improvement is being built store
by store."
Outlook
Macroeconomic conditions in Norway and Sweden remain mixed. In Norway, Norges
Bank raised the policy rate by 25 basis points to 4.25% in May as core inflation
remains above target, and has indicated the possibility of further rate
increases during the second half of the year. Combined with continued
geopolitical uncertainty and volatility in energy and commodity markets, this
may weigh on consumer confidence and spending patterns. In Sweden, core
inflation remains below target, and the policy rate is currently 1.75% with no
immediate prospect of rate increases.
Consumers are expected to see real wage growth in both countries in 2026 but are
nevertheless expected to remain price conscious with a sharp focus on value-for
-money and promotional activities. Europris and ÖoB remain well positioned in
this environment through their low-price concepts, broad assortments and strong
promotional capabilities.
Cost visibility remains limited, particularly for energy, freight and certain
input categories. Further volatility cannot be excluded, but any impact on these
cost items is expected to affect the market broadly. The group continues to
mitigate cost increases where possible through sourcing initiatives, pricing
measures, and improved operational efficiency.
In Sweden, the ÖoB turnaround programme is progressing according to plan. The
store remodelling programme is expected to continue to weigh on profitability in
the near term, while supporting the longer-term earnings capacity of the chain.
The group maintains its expectation of a gradual improvement in financial
performance from 2027 onwards and reiterates its ambition to grow ÖoB sales to
SEK 5 billion with an EBIT margin of 5% by the end of 2028.
Practicalities:
The quarterly report, presentation materials and spreadsheet with key figures
will also be available on the website https://investor.europris.no. CEO Espen
Eldal and CFO Stina C Byre will present the group’s results at 08:30 CEST at
Pareto Securities’ office, Dronning Mauds gate 3, Vika in Oslo. The presentation
will be held in English and transferred via live webcast and will be made
available through the website at https://investor.europris.no. It will be
possible to ask questions via the web.
For further information, please contact:
Espen Eldal, CEO, +47 48 29 24 24, espen.eldal@europris.no
Stina C Byre, CFO, +47 41 10 58 08, stina.byre@europris.no
Trine Engløkken, Head of IR, +47 94 05 09 37, trine.englokken@europris.no
About Europris:
The group comprises Norway’s leading variety retail chain, Europris, the Swedish
retailer ÖoB, and holds full or partial ownership in the e-commerce groups
Lekekassen and Strikkemekka. The Europris chain operates 290 stores in Norway
(269 directly operated and 21 franchised locations), while ÖoB manages 92
directly operated stores throughout Sweden, and Lekekassen operates two physical
stores in Norway. The group’s operations are coordinated from its head office in
Fredrikstad, Norway, with logistics centres in both Norway and Sweden.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Trine Engløkken, Head of IR at Europris ASA, on 9
July 2026 at 07:00 CEST.
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