E-commerce company Outnorth AB, which in addition to its online stores in the Nordic countries and Germany also operates physical stores in Kalmar and Växjö, has submitted its annual report for 2025. Net sales amounted to SEK 1.14 billion, which is essentially the same turnover as in 2024. In 2023, the company had a turnover of SEK 1.18 billion.
According to the company, currency effects have negatively impacted the reported turnover, but local currencies show positive sales growth in several markets. In the management report, the company writes the following about the market situation:
Sales are maintained compared to the previous year, but considering the negative currency effects during the year, we are once again showing growth in local currencies. In our home market of Sweden, we have double-digit growth figures. The outdoor market as a whole continues to have negative growth figures, which means that we have gained market share in 2025 and strengthened our position as a category leader in Outdoor.
Improved profitability and AI initiatives
On the income statement, Outnorth shows a clear improvement in operating performance. Operating profit (EBIT) increased by 43 percent to SEK 28 million, compared to SEK 19.6 million in 2024. Profit after financial items increased by 80 percent to SEK 20.6 million, up from SEK 11.5 million the year before.
After appropriation of profit, which includes paid group contributions of SEK 8.2 million and excess depreciation of SEK 17.4 million, the net profit for the year amounted to SEK -4.2 million. This compares to a net profit of SEK 27.6 million in 2024, when the figure was positively affected by received group contributions. Management summarizes the factors behind the strengthened operating profit in the annual report:
In 2025, the company has further strengthened profitability through higher gross margins, lower freight costs, more efficient inventory management and a larger share of organic traffic which reduces the cost of traffic acquisition.
Part of the efficiency work during the year consisted of technical investments. The company states that it has implemented new technology to streamline both marketing and internal administration. This is commented on in the report as follows:
In 2025, we launched several AI initiatives with successful results, which contributed to increased sales and increased efficiency in the organization. For example, we have used our own AI modeling to create unique personalized product suggestions in our newsletters.
Strengthened cash flow in the group
Outnorth is based in Växjö and is therefore one of the billion-dollar players that dominates e-commerce outside of major cities. The company is 100 percent owned by Outnordic Invest AB, which in turn is controlled by the media group Egmont. The group structure was established when Egmont previously merged Outnorth with Norwegian Fjellsport to consolidate its Nordic outdoor retail under a common umbrella.
In 2025, the average number of employees in Outnorth AB was 121, compared to 125 the previous year. At the same time, cash flow from operating activities strengthened to SEK 66.7 million, an increase from SEK 14.1 million in 2024. At the end of the financial year, the company's liquid assets amounted to SEK 94.4 million, compared to SEK 37.7 million the previous year, and equity increased from 36 to 38 percent.
READ ALSO: After three years: CEO steps down from Outnorth – "the time feels right"