The new CEO, Sandra Gadd, assumed her position in September of last year, during a year that involved a great deal of renegotiations and inventory clear-outs. The work of reviewing the product range and negotiating new agreements with suppliers required external assistance, resulting in a one-time cost of SEK 36.1 million for the fourth quarter of the year.
At the same time, an inventory write-down of SEK 74.2 million was carried out to manage older and discontinued products.
Finding a single word to summarize 2025 is not entirely easy. Chaotic comes to mind, writes Sandra Gadd in the report, and continues:
A year characterized by a feeling of keeping one's head above water, sometimes tired, sometimes hopeful. A bit like the emotional register of a teenager.
The company is in a phase where management points to patience as the single most important factor in managing the transition to a more stable business model. They emphasize the importance of seeing reality exactly as it is, without embellishment, in order to solve the challenges within operations from the ground up.
During the year, the focus has been on understanding the causes of the problems rather than just alleviating the symptoms.
The Danish Challenge
One of the more demanding tasks during the year was the merger of the Danish subsidiary AV-Cables with the central functions of the parent company. Turnover in Denmark fell by 42.5 percent to SEK 179 million. The company admits in the report that they underestimated how much capacity this merger would require and that Danish e-commerce therefore received too little attention and support.
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To manage the situation, e-commerce in Sweden was shut down for AV-Cables, and the business's inventory was moved during the beginning of 2026 from Denmark to the new central warehouse in Staffanstorp.
During the year, the company wrote down the value of goodwill, brand and software related to the Danish business by SEK 271.8 million.
New Agreements and Physical Presence
To manage the financial needs and future-proof the business, capital raising was carried out at the beginning of 2026, which added SEK 205.5 million. In March of the same year, a new credit agreement of SEK 500 million was also signed, replacing the previous financing.
While online sales account for 24 percent of total turnover, the company continues to invest in its physical presence.
At the end of 2025, a collaboration with Ikea was initiated, with stores in the warehouses opening in Kalmar and Kungens Kurva. The group now operates 148 of its own service points and has partnerships with actors such as EKO Stormarknad and Circle K to reach customers in more places.
It is not spectacular ideas that will turn things around, but the consistent, methodical work of everyday life, writes Sandra Gadd.