Nilörngruppen operates in the fashion industry and focuses on the design, manufacture and distribution of clothing, packaging and accessories. In addition to its core business, the company works with graphic design and brand profiling. The business is global with a main presence in Europe, North America and Asia. Nilörngruppen was founded in 1977 and is headquartered in Borås, Sweden.
* All-cash public offer SEK 77 per share * Nilörn's largest shareholder (58% of votes) has accepted * 53% upside to current share price The Board unanimously recommends the offer Nilörn has received a recommended all-cash public offer from Trimco Group...
* Soft sales mostly on FX and order timing * We cut '26e-'27e adj. EBIT by 6-4% * Trading at ~7x EV/EBIT on our NTM estimates Bad timing and tough FX Nilörn's Q1 was soft on the surface, but material FX headwinds (-9%) and a SEK 16m order slipping from...
* Sales -8% and adj. EBIT -16% vs. ABGSCe * Order intake SEK 218m, below expectations * Likely minor negative consensus estimate revisions A mechanical miss beneath decent underlying trends Q1 was softer than expected on both sales and adj. EBIT. Nil...
* Relatively light comps in Q1e, but market still tough * We raise '26e-'28e EBIT by 1-3% * Trading at 6.3x NTM EV/EBIT A solid underlying Q1e, offset by FX We expect positive organic growth of 2% in Q1'26e, which implies sales of SEK 238m and adj. EBIT...
* A soft end to '25 on earnings * We cut '26e-'27e adj. EBIT by 7-6% * Trading at ~7x EV/EBIT on our NTM estimates Q4: strong orders but pressured margins Q4 was a weak quarter on adj. EBIT, ~30% below expectations despite a 2% beat on sales and a gross...
* Sales 2% and adj. EBIT -31% vs. ABGSCe * Order intake SEK 251m, above expectations * Likely negative consensus estimate revisions Q4'25 impressions Q4 was better than expected on sales and order bookings, but dissapointed on adj. EBIT. Nilörn delivered...
* Negative FX and calendar effects * We trim '25e-'27e EBIT by 2% * Trading at 9x NTM EV/EBIT FX and Chinese New Year weigh on Q4e In Q4'25 we expect positive organic growth of 3%, which implies sales of SEK 214m and adj. EBIT of ~SEK 17m, corresponding...
* Stronger than expected across the board* We raise '25e-'27e adj. EBIT by 10-3%* Trading at ~8x EV/EBIT on our NTM estimatesStrong sales, adj. EBIT even betterSales were better than we expected in Q3, and adj. EBIT was also significantly higher. FX ...
* Sales +13% and adj. EBIT +39% vs. ABGSCe* Order intake SEK 224m, in line with ABGSCe* Likely positive consensus estimate revisionsQ3'25 impressionsNilörn delivered sales of SEK 230m (13% vs ABGSCe 203m), corresponding to y-o-y organic growth ex. FX...