The annual report explains the decline in turnover by stating that the company has continued its strategic transformation. Refurbly has reduced its wholesale business and prioritized the subscription service Refurbly Flex, which, according to the company, has resulted in lower revenue but improved margins.
The international expansion previously initiated with an establishment project in Qatar has been discontinued. In 2025, Refurbly instead streamlined its operations to Sweden and the Nordic countries and terminated all operations outside of Europe.
In the autumn of 2025, a reorganization of the company's management and board of directors was carried out to prepare the company for the next phase of growth and scaling. In connection with this, the company's former CEO and founder left their operational role and board position. Nicklas Stuxgren, who previously held leading roles within Refurbly with a focus on business development, sales and operations, was appointed new CEO.
The company's ownership structure has changed significantly during the year. The founder's gradual transition to a more limited role has meant a natural transition period for the company and has affected operations during 2025. Refurbly is entering 2026 with a clearer management and ownership structure that creates more stable conditions for the next growth phase, the company writes in its annual report.
The new board of directors is led by chairman Oscar Wallstén, who thus returns to the role. The largest owners of the company are Emanric F & F AB with 52.5 percent of the shares and Humbelin AB with 16.9 percent.
Jimmy Palmqvist, board member of Refurbly AB and chairman of the board of Emanric F & F AB, commented on the changes last autumn:
We agree that this is a natural step in Refurbly's development. With a new management team in place and a strong ownership base, the company is well positioned for the next phase.
Through, among other things, new share issues during the year, the equity has been strengthened, which contributed to an increase in solvency from 26.1 percent to 32 percent. The average number of employees during the financial year was 9 people, a decrease from 10 people in 2024.