Kährs Group: Year-End Report 2025

Kährs concludes 2025 with stable development in Europe and the Nordics, where continued customer and consumer activity levels continue to provide positive signals. The company’s order intake decreased organically by -4 per cent in the fourth quarter compared to the previous year, primarily due to continued weak demand in the US. In the regions Nordics and Europe, order intake increased by 1 per cent and 3 per cent respectively, driven by retail sales. New construction in the Nordics region remained at low levels but declined less than previously. 

Consolidated sales decreased organically by -2 per cent in the quarter, driven by the US and lack of new construction in the Nordics region, while Europe and retail sales in the Nordics region are growing. Currency effects had a significant negative impact on reported sales, corresponding to -7 per cent, primarily due to a stronger Swedish krona and a weaker US dollar.  

Fourth Quarter 2025  

• Sales amounted to SEK 463 million (545), which was a decrease of -15 per cent. Organic change adjusted for currency was -2 per cent 
• Operating EBITA amounted to SEK -9 million (4), corresponding to an operating EBITA margin of -2.0 per cent (0,7)
• Operating result totalled SEK -14 million (-29), corresponding to an operating margin of -3.0 per cent (-5,4) 
• The result for the period amounted to SEK -39 million (-121)
• Cash flow from operating activities totalled SEK 22 million (70)  

January–December 2025   

• Sales amounted to SEK 1,972 million (2,391), which was a decrease of -18 per cent. Organic change adjusted for currency was -8 per cent 
• Operating EBITA amounted to SEK 38 million (73), corresponding to an operating EBITA margin of 1.9 per cent (3.1)
• Operating result totalled SEK 20 million (-54), corresponding to an operating margin of 1.0 per cent (-2.3) 
• The result for the period amounted to SEK -96 million (-253) 
• Cash flow from operating activities totalled SEK -12 million (90)  

President and CEO Johan Magnusson comments:  

Growth in retail and the renovation segment builds confidence despite challenges in the US and in new construction  

Market conditions remained challenging during the year, particularly with new construction in both the US and the Nordics. Order intake decreased slightly in the fourth quarter, mainly due to a continued weak housing market in the US.  

Underlying demand is still affected by geopolitical uncertainties and high interest rates in some markets. The project market for new construction remains at low levels, although activity in the Nordics has increased.  

Retail sales in Europe and the Nordics have shown growth, and the renovation segment showed increased activity in parts of Europe and the Nordics.

During the year, Kährs completed the implementation of a new fully integrated business system according to plan and has laid the foundation for a more data-driven way of working by introducing a new data and analysis platform, which also positions us better to utilize opportunities created by AI. 

Due to a strengthened brand position, successful product launches, and recognized sustainability initiatives, Kährs is well positioned to drive growth possibilities, profitability and financial discipline in a market situation that, despite challenges, is gradually improving.