Lammhults Design Group (LAMM) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 increased by 8.9% year-over-year to 205.4 MSEK, with both Office Interiors and Library Interiors contributing to growth.

• Adjusted operating profit improved to 6.9 MSEK (4.4 MSEK last year), and adjusted operating margin rose to 3.4% (2.3%).

• The group continued its efficiency and transformation program, focusing on cost savings and organizational changes.

• Despite a weak market, gradual profitability improvements were achieved, especially in Norway.

Financial highlights

• Net sales for January–September 2025 rose 3.0% year-over-year to 628.1 MSEK.

• Adjusted operating profit for the period was 8.0 MSEK, up from -18.8 MSEK, with a margin of 1.3% (-3.1%).

• Result after tax for Q3 was 3.2 MSEK (0.1 MSEK last year); for the nine months, -0.8 MSEK (-22.1 MSEK last year).

• Free cash flow including leasing for the period was -0.1 MSEK (-32.1 MSEK last year).

• Equity per share at period end was 47.07 SEK (57.12 SEK last year).

Outlook and guidance

• The transformation and efficiency program is expected to yield a positive net effect of 30–40 MSEK on annual operating profit after full implementation, targeted for Q1 2026.

• Management maintains the ambition to reach an EBIT margin of 8–10%.