Humble Group (HUMBLE) Q1 2026 earnings summary

Executive summary

• Organic sales growth reached 8% with revenue close to SEK 2 billion, reflecting stable demand despite a challenging macro environment.

• All four segments grew, led by Future Snacking and Quality Nutrition, with strong brand and production performance.

• EBITA was SEK 116 million, nearly flat year-over-year, supported by cost savings but impacted by currency effects and divestments.

• Cash flow from operations improved 63% to SEK 114 million, reflecting disciplined working capital management.

• Strategic review ongoing, with recent acquisitions (Willumsen, Jutexpo) and divestments to streamline operations and sharpen profitability.

Financial highlights

• Net sales nearly SEK 2 billion, organic growth of 8% year-over-year, mainly from Future Snacking and Quality Nutrition.

• Gross profit SEK 630 million, gross margin 31.6% (down 0.7pp), mainly due to product mix and currency.

• EBITDA improved to SEK 116 million, with SEK 20 million contribution from efficiency program.

• Cash flow from operating activities after working capital changes was SEK 114 million, up 63% year-over-year.

• Earnings per share rose to SEK 0.06, more than doubling from the prior year.

Outlook and guidance

• Confident in continued group growth at satisfying levels, excluding M&A.

• Gross margin improvement is a key priority, with ongoing initiatives to optimize cost of goods and pricing.

• Expect volatility in whey protein prices and macroeconomic factors to challenge profitability in coming months.

• CapEx for new facilities expected to continue in Q2 and Q3, with no major new initiatives planned beyond maintenance.

• New production agreements and the opening of a confectionery factory in Skövde are anticipated to drive growth in H2 2026.