Second quarter

• Net sales increased 8.4% to MSEK 574.3 (529.7)
• Comparable growth amounted to 7.1% (-9.9)
• Gross profit increased 11.1% to MSEK 248.5 (223.7) and the gross margin increased to 43.3% (42.2)
• Adjusted EBITA totalled MSEK 5.1 (-9.2) and the adjusted EBITA margin was 0.9% (-1.7)
• The company's operating loss amounted to MSEK -5.7 (-14.5) and the operating margin to -1.0% (-2.7)
• The net loss for the quarter was MSEK -12.6 (-20.9)
• Cash flow from operating activities totalled MSEK -28.7 (-136.1)
• Earnings per share before dilution amounted to SEK -0.13 (-0.36)

January - June

• Net sales decreased -2.7% to MSEK 1,061.6 (1,091.0)
• Comparable growth amounted to -3.3% (-7.7)
• Gross profit increased 1.7% to MSEK 467.5 (459.8) and the gross margin increased to 44.0% (42.1)
• Adjusted EBITA totalled MSEK -8.2 (-11.5) and the adjusted EBITA margin was -0.8% (-1.1)
• The company's operating loss amounted to MSEK -30.4 (-26.2) and the operating margin to -2.9% (-2.4)
• The net loss for the period was MSEK -47.4 (-41.6)
• Cash flow from operating activities totalled MSEK -155.9 (-127.5)
• Earnings per share before dilution amounted to SEK -0.57 (-0.94)

Significant events during and after the end of the quarter

• Kjell Group held its Annual General Meeting on 20 May 2026. The meeting elected Göran Westerberg as new Chairman of the Board and Pål Wibe as new Board member. David Zaudy, Ola Burmark, Ebba Ljungerud and Adeline Sterner were re-elected, and the Board now comprises six members.
• Andreas Thaler was appointed Chief Purchasing Officer (CPO) during the quarter, with overall responsibility for planning, assortment and the company's sourcing office in Shanghai. Thaler has more than 20 years of experience in assortment, purchasing and international sourcing, most recently from Europris AS and NetOnNet.
• No significant events after the end of the period.

“We have broken a negative trend. Inventory availability is better, which is reflected in both the balance sheet and the income statement. More structured work on pricing and campaigns has begun to have an effect. We have continued working to create the conditions for a more focused and relevant product range and have begun preparations for the important fourth quarter”, says Sandra Gadd, CEO at Kjell Group.

Webcast in connection with the publication of the interim report
Sandra Gadd, CEO, and Fredrick Sjöholm, CFO, will host a webcast on 17 August 2026 at 10:00 CEST in connection with the publication of the interim report.

Participate via webcast:
https://events.inderes.com/kjell-group/q2-report-2026
Participate via teleconference:
https://events.inderes.com/kjell-group/q2-report-2026/dial-in

The presentation material is available on the Group’s website:
https://kjellgroup.com/en/investors/financial-reports/

Reports
This interim report and earlier reports are available on www.kjellgroup.com