During the first quarter of the year, net sales increased by 20 percent to SEK 1.1 billion, compared to SEK 923 million during the same period last year. Excluding currency effects, organic sales growth amounted to 24 percent.
Growth was largely driven by the nicotine pouch category, where volume increased by 40 percent during the quarter. Haypp Group's CEO Gavin O'Dowd comments on the development in the interim report:
Haypp Group's sales growth continued to accelerate during the first quarter of 2026, with net sales exceeding SEK 1 billion.
He then adds:
The Group continues to attract and retain consumers through its competitive and agile offering, which is reflected in the number of active consumers reaching a new record level of 652,000 during the quarter.
Despite the increased sales and a maintained gross margin of 18.6 percent, the company's adjusted EBIT fell to SEK 27.2 million from SEK 47.7 million. The adjusted EBIT margin amounted to 2.5 percent, compared to 5.2 percent during the corresponding quarter last year. The decline is primarily explained by increased marketing investments and higher general administrative costs related to expansion and personnel, especially in the USA and the United Kingdom.
Haypp continued to invest for future growth, which meant that the Group's adjusted EBITDA margin decreased by approximately 270 basis points to 4.7 percent, mainly due to margin pressure within the Growth segment, explains Gavin O'Dowd.
Looking ahead, the company expects that volume-driven growth will have positive effects on profitability.
As volume increases, the Group's margins are expected to gradually strengthen in line with the company's financial targets for 2028, concludes Gavin O'Dowd.