Nimbus Group Interim report 2026 - 1 January – 30 June 2026
by Nimbus Group 18 Jul 03:39 PDT
Nimbus Group © Nimbus Group
Nimbus Group received its first order for the MSMB200 workboat from the Swedish Armed Forces. The order value amounts to approximately SEK 260 million, with deliveries expected to commence in January 2027 and continue over a period of 36 months.
| SECOND QUARTER APRIL - JUNE 2026 | FIRST 6 MONTHS JANUARY - JUNE 2026 |
|---|
| Net sales amounted to SEK 479 million, which was down 16 percent compared with the previous year (571). | Net sales amounted to SEK 736 million, which was a decrease of 16 percent compared with the previous year (871). |
| Commercial Sales decreased to SEK 203 million (297) and Retail Sales increased to SEK 276 million (274). | Commercial Sales amounted to SEK 408 million (541) and Retail Sales to SEK 328 million (330). |
| Organic growth amounted to -16 percent | Organic growth amounted to -14 percent |
| EBITA amounted to SEK 26 million (25). | EBITA amounted to SEK -4 million (13). |
| The EBITA margin was 5.3 percent (4.5) | The EBITA margin was -0.6 percent (1.5) |
| Operating cash flow amounted to SEK 139 million (90) | Operating cash flow amounted to SEK 110 million (-37) |
| The order book at the end of the period amounted to SEK 348 million (409), of which Commercial Sales amounted to SEK 321 million (381) and Retail Sales to SEK 27 million (28). | Earnings per share amounted to SEK 0.26 (-0.93) |
Significant events during the second quarter of 2026
- Nimbus Group received its first order for the MSMB200 workboat from the Swedish Armed Forces. The order value amounts to approximately SEK 260 million, with deliveries expected to commence in January 2027 and continue over a period of 36 months.
- The Nimbus brand is reintroducing the original product names Sport Cruiser for boats in the WTC series and Coupé Cruiser for coupé boats. At the same time, the model names will indicate the boats' length in feet. The new naming will simplify choice across the model range and align with international standards.
- Mikael Mårtensson was appointed Chief Financial Officer (CFO), with a start date later this year, but no later than 1 December. Mårtensson will succeed Christian Johansson, who is currently serving as interim CFO.
- Nimbus Group participated in roundtable discussions during Almedalen week in Visby and was showcasing the Swedish Armed Forces' MSMB200 workboat.
- Nimbus Group revealed the Sport Tender 35, the first model of three in the new Sport Cruiser 35 series. Its world premiere will take place at the Cannes Yachting Festival in September 2026.
Significant events after the balance sheet date
- No significant events after balance sheet date.
| Second quarter | First 6 months | Last 12 months | Full year |
|---|
| 2026 | 2025 | % | 2026 | 2025 | % | 2026 | 2025 | % | 2025 |
|---|
| Net sales, MSEK | 478.8 | 570.8 | -16.1 | 735.7 | 871.1 | -15.5 | 1,231.4 | 1,523.4 | -19.2 | 1,366.7 |
| Operating result, MSEK | 25.7 | 25.3 | 1.5 | -4.6 | 12.5 | -136.8 | -103.8 | -78.6 | -32.0 | -86.7 |
| EBITA, MSEK | 25.5 | 25.4 | 0.1 | -4.3 | 12.8 | -133.3 | -101.5 | -78.0 | -30.1 | -84.4 |
| EBITA margin, % | 5.3% | 4.5% | 0.9 pp | -0.6% | 1.5% | -2.0 pp | -8.2% | -5.1% | -3.1 pp | -6.2% |
| Result for the period, MSEK | 22.5 | -0.8 | 2,816.5 | 11.1 | -39.4 | 128.3 | -117.2 | -124.2 | 5.7 | -167.7 |
| Operating cash flow, MSEK | 139.3 | 90.0 | 54.8 | 110.2 | -36.9 | 398.5 | 60.2 | -132.5 | 145.4 | -86.9 |
| Earnings per share | 0.53 | -0.02 | 2,816.5 | 0.26 | -0.93 | 128.1 | -2.75 | -3.91 | 29.7 | -3.94 |
CEO comment
Strong cash flow and earnings in line with the previous year
In a market that remained cautious, Nimbus Group saw lower sales. We succeeded despite that to produce a result in line with previous year. That is a result of our performance-enhancing initiatives.
Retail Sales continued to demonstrate stability
The second quarter followed the sales trend seen in the first quarter, with sales down 16% compared with the same period last year and down 16% for the first half of the year. Our Retail Sales operations continued to perform steadily, delivering sales in line with the corresponding period of the previous year. Maintaining stable volumes in a challenging market is a strong achievement by Retail Sales, and I am proud of how the team is performing. Commercial Sales, sales to dealers, developed weaker across the Nordic region, Europe and North America compared with the previous year. We continued to see a cautious approach among dealers who, despite low inventory levels, remained reluctant to place new orders. The order book at the end of Q2 followed the sales trend, and ended up at -15% compared to last year's corresponded period.
Earnings in line with the previous year
Despite weaker sales, we delivered a result in line with the previous year. The Group's EBITA for the quarter amounted to SEK 26 million (25), while the EBITA margin improved slightly from 4.5% to 5.3%. Strengthened gross margins and the effects of cost-saving measures fully offset the impact of lower sales during the quarter, and we are seeing the benefits of the initiatives we have implemented to improve operational efficiency.
Cash flow for the quarter amounted to SEK 139 million (90), representing a strong performance both compared with the previous quarter and in light of current market conditions. The improved cash flow is also the result of performance-enhancing initiatives, primarily related to inventory management and trade receivables. In addition, we are in a seasonally strong period during which we delivered more boats than we produced, inherently generating positive cash flow. Overall, we are now seeing the effects of the performance improvement program we have previously communicated. I remain confident in the initiatives included in the program, and it is gratifying to see how they are helping us maintain balanced earnings even in a challenging market environment.
Continued focus on performance improvement initiatives
We continue our efforts to reverse the negative trend in North America. For the Nimbus brand, we remain cautiously optimistic about developments given the current market conditions, although sales are lower than in the previous year. The Edgewater business continued to generate negative results. During the quarter, we implemented further capacity reductions at Edgewater and carried out additional cost-saving measures. However, these actions have not been sufficient, and Edgewater continued to have a negative impact on the quarter's result. We remain focused on turning the business around through further reviews of capacity, pricing, production costs and the Edgewater model range.
Across the rest of the Group, our focus on cost efficiency continues. We are reviewing processes, contracts and ways of working, and this effort is proving valuable as we identify opportunities to optimize our cost base in several areas. Similarly, we continue to refine our resource planning and product portfolio. By focusing our resources and streamlining our portfolio, we aim to improve efficiency, commercial performance and profitability. In this context, I would particularly like to highlight our factory in Mariestad, which, through focused efforts and clear objectives, has achieved a level of productivity that we have not seen for many years.
Forward-looking initiatives
Nimbus Group participated in Almedalen week for the first time and, together with our partner Svekon, showcased the MSMB200 workboat, which is scheduled to begin deliveries to the Swedish Armed Forces in the first quarter of 2027. The initiative to showcase the MSMB200 in Almedalen forms part of our strategic investment in workboats for professional users and defense applications. As part of this initiative, we are also strengthening the organization in order to increase sales and delivery capabilities.
Following a highly active spring with numerous sales activities and boat shows across Europe, we are approaching what promises to be a very exciting and eventful autumn for Nimbus Group. We will begin the season with a global dealer meeting centered on the launch of the Sport Tender 35, the first model in our entirely new Sport Cruiser series. This will be followed immediately by the Cannes Yachting Festival, where the model will make its public debut, before continuing its launch journey at major boat shows around the world.
Personally, I am very much looking forward to the launch. Just as the Nimbus 495 Fly has set the direction for our future Coupé models, the Sport Tender 35 points the way for the next generation of Nimbus Sport Cruisers. The boat is exceptional and fully meets our own high expectations, and we look forward to presenting it to the world.
With that, I wish you all a wonderful summer and many enjoyable days on the water, preferably aboard one of Nimbus Group's boats.
Johan Inden, President and CEO
Financial calendar
The interim report for the period 1 January - 30 September 2026 will be published on 22 October 2026
The year- end report for the period 1 January - 31 December 2026 will be published on 27 January 2027
The company's reports will be available on the company's website www.nimbusgroup.se
Teleconference:
Nimbus Group will publish the interim report for the second quarter 2026 on Thursday 16 July at 07:30 CET. A webcasted telephone conference will be held at 10.00 a.m. CET on the same day, where President and CEO Johan Inden will present the report together with CFO Christian Johansson. The presentation will be followed by a Q&A session. The presentation will be held in English. Those who wish to participate in the conference call in connection with the presentation can register via the following link: events.inderes.com/nimbus/q2-report-2026/dial-in
After registration, you will receive a telephone number and a conference ID to log in to the conference. Via the telephone conference, it will be possible to ask oral questions. It is also possible to follow and listen to the presentation and the conference on the following web link: events.inderes.com/nimbus/q2-report-2026