Apotea

Continued strong profitability and stable growth

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Sammanfattning

Apotea redovisar en stabil omsättningstillväxt på 10,9% för andra kvartalet, med ett starkt ökat resultat per aktie. Däremot minskade kassaflödet från den operativa verksamheten kraftigt, vilket skapar en blandad bild.

Analys

Bolaget uppvisar en fortsatt stabil omsättningstillväxt på 10,9% för kvartalet, drivet av egna varumärken och expansion i Norge. Rörelseresultatet (EBIT) ökade med 12,1% och resultat per aktie förbättrades med 13,0%, vilket är positivt för befintliga aktieägare. Den rapporterade EBIT-marginalen förbättrades något till 5,2%, medan den justerade marginalen minskade marginellt. Kassaflödet från den operativa verksamheten minskade dock markant med 53,6% jämfört med föregående år, vilket är en viktig faktor att bevaka. Ledningen betonar långsiktiga tillväxtinitiativ som förväntas ge full effekt över tid.
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Nyckeltal

Nettoomsättning Q2
2 025,9 (1 826,2) MSEK
Rörelseresultat (EBIT) Q2
104,4 (93,1) MSEK
EBIT-marginal Q2
5,2% (5,1)
Periodens resultat Q2
81,1 (71,7) MSEK
Resultat per aktie Q2
0,78 (0,69) SEK
Kassaflöde från löpande verksamhet Q2
76,8 (165,3) MSEK

Insikter

  • • Tillväxten drivs av egna varumärken och expansion i Norge.
  • • Ledningen betonar långsiktiga tillväxtinitiativ som ännu inte fullt ut återspeglas i tillväxttakten.
  • • Den rapporterade EBIT-marginalen förbättrades något, medan den justerade EBIT-marginalen minskade marginellt.

Net revenue for the second quarter increased by 10.9% (9.9) to SEK 2,025.9 million (1,826.2) and adjusted operating profit (EBIT) amounted to SEK 104.7 million (99.3), corresponding to an adjusted EBIT margin of 5.2% (5.4).

Net revenue for the second quarter increased by 10.9% (9.9) to SEK 2,025.9 million (1,826.2) and adjusted operating profit (EBIT) amounted to SEK 104.7 million (99.3), corresponding to an adjusted EBIT margin of 5.2% (5.4).

Second quarter (April 1 – June 30, 2026)

  • Net revenue increased by 10.9% (9.9) to SEK 2,025.9 million (1,826.2)
  • Gross margin was 27.5% (28.0)
  • Operating profit (EBIT) amounted to SEK 104.4 million (93.1), corresponding to an EBIT margin of 5.2% (5.1)
  • Adjusted operating profit (EBIT) amounted to SEK 104.7 million (99.3), corresponding to an adjusted EBIT margin of 5.2% (5.4)
  • Adjusted operating profit (EBIT) excludes costs of SEK 0.3 million related to share-based payments. Items affecting comparability in the comparative period amounted to SEK -6.2 million
  • Profit for the period amounted to SEK 81.1 million (71.7)
  • Earnings per share before and after dilution was 0.78 SEK (0.69)
  • Cash flow from operating activities was SEK 76.8 million (165.3)

January – June 2026

  • Net revenue increased by 10.7% (12.5) to SEK 3,963.1 million (3,579.7)
  • Gross margin was 27.9% (27.8)
  • Operating profit (EBIT) amounted to SEK 205.7 million (185.5), corresponding to an EBIT margin of 5.2% (5.2)
  • Adjusted operating profit (EBIT) amounted to SEK 206.0 million (191.7), corresponding to an adjusted EBIT margin of 5.2% (5.4)
  • Adjusted operating profit (EBIT) excludes costs of SEK 0.3 million related to share-based payments. Items affecting comparability in the comparative period amounted to SEK -6.2 million
  • Profit for the period amounted to SEK 159.5 million (143.5)
  • Earnings per share before and after dilution was 1.54 SEK (1.38)
  • Cash flow from operating activities was SEK 189.3 million (288.6)

Pär Svärdson, CEO, comments:

We delivered strong profitability and stable growth during the second quarter. At the same time, our efforts to accelerate growth continued unabated. This is a long-term effort, and while we are making good progress, it will take time before these initiatives are fully reflected in our growth trajectory. During the quarter, we started to scale up sales of our beauty and health offering in Norway through apotea.no. We also saw strong growth in our own brands, which now generate annual sales of more than SEK 100 million.

The result for the period January – June 2026 will be presented today at 09:30 (CEST) by Apotea’s CEO Pär Svärdson, COO & deputy CEO Sarah Ahnström and CFO Johan Mårild via a live webcast. The presentation will be held in English. To join the webcast please use the following link: https://apotea.events.inderes.com/q2-report-2026. If you wish to participate via telephone conference please use the following link: https://events.inderes.com/apotea/q2-report-2026/dial-in.

For further information, please contact:Stefan Eriksson, deputy CEO & Investor RelationsE-mail: ir@apotea.se

About ApoteaApotea is Sweden’s leading online pharmacy with the ambition to become the pharmacy of tomorrow by continuously simplifying and enhancing the customer experience. With the widest assortment on the market, low prices and fast deliveries, Apotea facilitates everyday life for over three million active customers. In E-barometern’s 2025 customer survey, Apotea was ranked as the customers’ favourite e-commerce store for the eighth consecutive year. Since 2022, the group also operates in Norway through its Norwegian subsidiary Apotera.

This information is information that Apotea is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-07-17 07:30 CEST.

AttachmentsInterim Report Q2 2026

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