A look at the figures from 2025 shows that the e-commerce company's turnover for the full year landed at approximately 1.6 billion Swedish kronor. This is a decrease of 5.6 percent compared to the previous year, when the corresponding figure was around 1.7 billion. Operating profit amounted to 221.2 million Swedish kronor, a turnaround from a loss of 190.6 million Swedish kronor the year before.
The previously reported operating profit before depreciation showed a surplus of 303.7 million Swedish kronor. However, this figure was supported by an accounting effect from the reconstruction.
When the company's debts were written down, a settlement profit of 301.8 million Swedish kronor arose. Without this settlement, the operating business would have shown a different outcome. The company also has financial costs totaling 285.2 million Swedish kronor during the year. The bottom line therefore results in a loss of 131.2 million Swedish kronor for 2025.
Saved By Loans
To stabilize the economy, the new owner, the American investment company Triplepoint Capital, has entered with a hybrid loan of 735 million Swedish kronor. The loan carries an interest rate of 16 percent.
The agreement is structured so that it has no maturity date and Na-kd has the right to capitalize the interest instead of paying it out in cash. This approach allows the loan to be counted as equity in the balance sheet and thus function as a strengthening of the company's base.
In the management report, management writes:
After completed measures together with secured long-term financing, the board of directors assesses that the company has very good conditions to continue operations with strengthened competitiveness and improved profitability.
Closing Warehouses In Europe
The e-commerce company has implemented several cost savings in operational operations during the year. The physical presence in Europe has been reduced, and the workforce shrank from 203 employees in 2024 to 185 employees last year.
The logistical processes have been reviewed to lower the ongoing costs of handling and distribution.
As part of this work, all logistics operations were centralized to the company's existing facility in Landskrona during the first half of the year, which meant closing a central warehouse in the Netherlands as well as return hubs in Poland and England.
Tax Blow After Ownership Change
In connection with Triplepoint Capital taking over ownership, Na-kd lost the right to use its previous tax loss carryforwards.
The rules surrounding the so-called amount restriction led to the deferred tax asset being written down in its entirety during the year. This resulted in a direct tax expense of 108.2 million Swedish kronor in the annual accounts, which further dragged down the final result.
Debts Decreasing
The financial restructuring has also begun to leave its mark at the Swedish Enforcement Administration. In early June 2026, the number of public cases has fallen to nine, with a total amount of approximately 215,700 Swedish kronor.
The individual cases now amount to three and the total sum has decreased to 1.1 million Swedish kronor.