The company operates as a wholesaler and sells sportswear and fashion via B2B in Sweden. The company's own e-commerce platform, which also targets Swedish customers, is operated by the Danish parent company Hummel A/S.
For the Swedish B2B company, revenue slowed down in 2025. Turnover landed at SEK 63.6 million, which is a decrease of almost 30 percent compared to 2024 when turnover was SEK 90.6 million.
The explanation is that the company's largest customers have purchased fewer goods than usual. Management states in the annual report that they expect to compensate for the loss in the future by growing with other customers.
Changed invoicing saves the result
But despite the decline in sales, profits remain at almost exactly the same level. Operating profit for 2025 landed at SEK 4.1 million, which is a decrease of just under two percent.
The fact that the result did not fall in line with sales is explained by an internal decision. The company is said to have changed how it assesses and invoices so-called exchange transactions. They have credited old invoices in retrospect, which boosted the result.
At the same time, the company has also reduced its costs. During the year, the average number of employees decreased from five to two.
In Hummel Sweden's previous annual reports, the auditor has noted that taxes and fees have not been paid on time. But in this year's financial statements, the company turns a new leaf and receives an audit report free of remarks.
Debts to other companies within the group are now completely zeroed out, from previously being at SEK 1.7 million. The company's own tax debts, however, have increased from SEK 209,000 at the end of last year to SEK 529,000 in 2025.
The Swedish operations are managed by CEO Lars Bugge Stentebjerg and owned by the Danish parent company Thornico Holding A/S through the subsidiary Hummel A/S.