Ellos Group cleans up the books: New bank agreements and strong results

Hans Ohlsson, CEO

Strong figures.

While the major headlines surrounding Ellos Group have revolved around messy ownership changes and the combined billion-dollar sales, an intensive reconstruction has been taking place in silence. Now that the financial statements have become official, it becomes clear how the e-commerce giant has cleaned up its own corporate structure, secured completely new financing agreements and how the interior design branch Jotex has emerged as the group's new cash cow.

As the 2025 fiscal year now concludes, a concrete picture emerges of how management is preparing for the future. While the holding company Ellos Group Sweden AB saw its own turnover decrease slightly to 19.7 million Swedish krona, the result after financial items landed steadily at 56.5 million.

Behind the overall results lie three strategic key moves. These include a previously issued bond loan being erased and replaced with a massive check credit of 400 million krona, a legal merger of several subsidiaries, and a rapid and noticeable turnaround in profitability for Jotex.

Internal Cleanup

A clear example of this streamlining can be found in the paperwork for Ellos Group Sweden AB. The board of directors, led by CEO and Chairman Hans Ohlsson, has chosen to tidy up the complex corporate structure. Through a merger, several smaller subsidiaries have simply been eliminated to instead consolidate operations under one roof.

But it is not only the corporate structure that has undergone a major overhaul, the financing has also been cleaned up. The company has now completely erased the previous bond loan. Instead, management has chosen to secure the future by negotiating a different bank solution.

Ellos Group Sweden AB has, during the fiscal year, entered into agreements for new credit facilities totaling 400 million krona with maturity in December 2028. As a result of this, the company and its subsidiaries are assessed to be able to meet all normal liquidity needs during the coming year.

Profitability Soars

While the parent company is cleaning up the books, the subsidiary Jotex Sweden AB is turning last year's losses into black figures.

Turnover increased by 2.6 percent and landed just under 360 million krona. A closer look at the figures shows that the home market is doing the heavy lifting. The Swedish market grew to over 330 million krona. At the same time, internal sales to the Nordic group network landed just under 30 million krona, a marginal decrease.

Operating profit turned from a loss of just over 6 million krona in the previous year to positive with 12.6 million krona for 2025.

Editorial Staff