After a prolonged period of financial restructuring and declining volumes, the trend has reversed for Desenio Group. When the poster company summarized its position earlier this year, the massive loss was almost erased, but the sales curve was still pointing downwards.
During the third quarter of 2026, the downward trend was broken. Net sales increased to SEK 182.8 million, up from SEK 167 million during the corresponding period last year.
The turnaround is progressing according to plan. The third quarter was the period when the work of the last fifteen months began to be clearly visible in the reported figures. Net sales increased by 9.4 percent – our first growth quarter in several years, says CEO Erik Flinck.
More Orders and Higher Average Purchase Value
The growth during the quarter was driven by both more completed purchases and more expensive shopping baskets. The order volume increased by 4.8 percent to 285,000 orders, compared to 272,000 orders last year. At the same time, the average order value increased from SEK 639 to SEK 664.
Marketing costs remained at SEK 57.2 million (57.3). As sales increased simultaneously, marketing's share of sales decreased from 34.3 to 31.3 percent.
This had an impact on the income statement, where operating profit (EBIT) increased to SEK 11.8 million (11.4). The adjusted EBITA result landed at SEK 14.6 million (13.9), which corresponds to a margin of 8 percent (8.3). Cash flow from operating activities amounted to SEK 29.7 million, up from SEK 21.3 million last year.
More important to me than a single quarter, however, is the underlying continuity. We have seen operational improvements month by month throughout the year, in both brands and across all markets. It is this pattern that makes me confident that this is a structural change in how the business is run, rather than a temporary favorable quarter, says Erik Flinck.
Acquires Map Company and Investigates Bond
With the operational turnaround in place, the group has also begun to look towards acquisitions. On October 8, Desenio Group signed an agreement to acquire Historly, an e-commerce company that sells personal and historical posters and maps. According to management, the deal is a strategic step to broaden the offering.
Historly AB, which Ehandel.se has previously reported on, has grown with good profitability in recent years. According to the company's latest annual report, Historly had sales of SEK 3.4 million in 2024 (up from SEK 2.5 million the previous year), with an operating profit of just over SEK 626,000.
At the end of the period, the group's net debt had decreased to SEK 283.5 million, down from SEK 302.8 million last year. At the same time, a bond maturity in the group company Desenio Midco AB of SEK 150 million is approaching in September 2027.
As the maturity now falls within twelve months, the board and management are investigating various solutions for refinancing, and the assessment is that a solution will be in place well before the due date.
We are now moving from stabilizing the business to creating growth, says Erik Flinck.