Gullberg & Jansson (GJAB) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 were 35.5 MSEK, down 20.5% year-over-year, mainly due to a delayed season in Home & Garden and a long winter.

• EBITA was -5.8 MSEK compared to -4.0 MSEK last year; net result after tax was -7.3 MSEK versus -5.1 MSEK.

• The group is now focused on two core segments: Home & Garden and Park & Environment, following the ongoing divestment of Energy & Climate.

• New CEO appointed in March 2026, with a focus on clearer priorities and improved commercial execution.

Financial highlights

• Gross margin improved to 30.9% from 23.7% year-over-year, driven by a favorable product mix and no clearance sales.

• Cash flow from operating activities was -10.7 MSEK, significantly lower than -0.9 MSEK last year, mainly due to inventory build-up.

• Cash and cash equivalents at quarter-end were 23.1 MSEK, up from 14.8 MSEK a year ago.

• Equity at quarter-end was 108.2 MSEK, with an equity ratio of 47.1%.

• Result per share was -0.83 SEK, compared to -0.58 SEK last year.

Outlook and guidance

• No full-year earnings forecast provided for 2026.

• Focus remains on strengthening Home & Garden sales during the ongoing season and continuing improvements in Park & Environment.

• The group aims for long-term profitable growth, both organically and through acquisitions.