Within the retail segment, Frilufts' physical stores generally performed better than e-commerce during the first three months of the year. A major explanation for this is IT-related disruptions in certain key markets. Chairman of the Board Martin Nordin describes the situation in the report:
In Finland and Germany, internet sales were hampered by frequent bot attacks that shut down the websites, which negatively impacted sales, particularly in Germany.
The Group's total direct-to-consumer sales amounted to 91.8 million euros during the quarter, compared to 87.6 million euros in the same period last year.
Despite this growth, Nordin notes that there was no increase in online sales, with all growth related to the physical stores. He also adds a comment regarding pricing on the market, stating that online operations are unfortunately still very discount-driven.
Acquiring Devold
Looking at the entire business, Fenix Outdoor reports a total net sales of 165.9 million euros for the quarter, an increase from 157.7 million euros during the same period last year. Operating profit improved to 7.7 million euros from 5.2 million euros.
In connection with the interim report, the company also announces that it has signed a letter of intent to acquire the remaining 35 percent of the shares in Devold of Norway AS. Fenix Outdoor, which has owned 65 percent of the company since March 2025, is buying out minority shareholder Flakk Group for 9.6 million euros in cash.