Nelly Group posts 10.3% revenue growth in Q3 but faces margin pressure and a major management shakeup as both the CEO and CFO prepare to exit the firm.
Nelly Group reported a mixed Q3 2026 performance, characterized by a 10.3% increase in net revenue to SEK 313.1 million, offset by a decline in operating margin to 13.5% due to higher marketing costs and increased promotional discounting. The company is currently facing significant leadership uncertainty following the announced resignations of both the CEO, Helena Karlinder-Östlundh, and the CFO, Josefin Dalum. Despite these operational and management headwinds, the company maintains a robust financial position, evidenced by a successful SEK 30 million share repurchase program and unutilized e
Both the CEO and CFO have resigned to pursue roles outside the company. They will remain in their positions during their respective notice periods, with the CEO stepping down by February 5, 2027, at the latest.
The company repurchased 836,000 shares for SEK 30 million between August 17 and September 25, 2026, strengthening the equity/assets ratio to 44.6%.
The operating margin fell to 13.5% (from 15.3% last year) primarily due to increased promotional activity and higher marketing costs, which rose to 10.0% of net revenue.
Nelly Group reported a 10.3% increase in Q3 revenue to SEK 313.1 million, though operating profit slipped to SEK 42.4 million due to higher marketing and discounting costs. The company faces a significant leadership transition as both CEO Helena Karlinder-Östlundh and CFO Josefin Dalum have announced their resignations.
The decline to 13.5% was primarily driven by increased promotional activity, higher marketing investments, and heavier discounting required to drive sales.
Both the CEO and CFO have resigned to pursue opportunities outside the company. They will remain in their roles during their respective notice periods to ensure continuity.