Matkassebolaget Cheffelo, which operates the brands Linas Matkasse in Sweden, Godtlevert in Norway and Retnemt in Denmark, reports a net turnover of SEK 288.1 million for the third quarter of 2026. This corresponds to an increase of 8.1 percent compared to SEK 266.4 million during the same period last year. Adjusted for currency effects, growth landed at 3.6 percent in local currency.
For the first nine months of the year, net turnover totaled SEK 993.9 million, which is a currency-adjusted increase of 13.1 percent compared to the corresponding period last year.
Dampened Growth Rate
Despite the increased revenue, the number of active customers decreased by 9.1 percent to 77,500 customers during the third quarter. According to the company's update, the growth rate was dampened due to lower customer acquisition compared to the third quarter of 2025. A new partnership then brought in an unusually large number of new customers. This year's new customer intake was instead in line with the levels from 2024, which the company believes is fully in line with the expectations communicated in the previous quarterly report regarding a calmer development during the second half of the year.
When Cheffelo presented its interim report for the second quarter Ehandel.se reported increased turnover and profit.
Profitability Before Volume
The company states that the established customer base continues to grow and shows a normal seasonal pattern. Cheffelo's CEO, Walker Kinman, emphasizes that profitability is now prioritized higher than short-term volume growth.
A strong inflow of new customers, as we saw during the third quarter last year, is always welcome. New customers pause at a higher rate than established customers, so a change in acquisition volume is quickly visible in net turnover. The important thing is that the customer base grows. We are investing in customer acquisition with a focus on return rather than just volume, and even moderate growth improves profitability, says Walker Kinman.
The complete interim report for the third quarter of the year will be published on November 4, 2026.