Nobia AB

NOBI

Equity

ISIN SE0000949331 / Valor 1438095

NASDAQ Nordic Exchange Stockholm, Equities (2026-04-01)

SEK 2.01+1.08%

Nobia AB
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About company

Nobia AB is recognized as Europe's leading kitchen specialist, distinguishing itself through its comprehensive focus on kitchen solutions. The company operates by engaging with a significant customer base, reportedly meeting over 60,000 customers weekly and delivering upwards of 10,000 kitchens during the same period. Nobia's business model emphasizes the design and creation of kitchens that not only cater to the needs and preferences of consumers but also incorporate considerations for environmental sustainability. This approach reflects in their product development and operational strategies, aiming to inspire a healthier and more sustainable lifestyle among their users. With its headquarters in Stockholm, Sweden, Nobia has positioned itself as a key player in the kitchen industry across Europe, leveraging advanced manufacturing techniques, including robotics, to enhance its production capabilities and efficiency.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Sales

Q4 net sales declined to SEK 3,050m (‑19% vs Q4 2022); organic declines by region were: Nordic -25%, UK -21%, Portfolio BUs -13%. Currency effects were modestly positive (+SEK 115m for the quarter in reported sales comparisons).

Margins

Gross margin improved to 35.1% (33.4% a year earlier) though gross profit fell to SEK 1,072m. Management cites price increases, cost reductions and slightly lower direct material prices as drivers of the margin improvement.

Operating profit

Operating profit excluding IAC was SEK 3m (Q4 2022: SEK 25m), mainly squeezed by the volume decline. Reported operating profit was SEK -75m (‑131) after IAC of SEK -78m.

Items affecting comparability (IAC)

IAC in Q4 2023 totalled SEK -78m. Major components included a SEK -100m write‑down of the Jönköping factory property, a SEK +57m reversal of tangible asset write‑downs, SEK -25m restructuring costs (Denmark/Finland) and SEK -9m factory transition costs.

Profit, EPS and cash flow

Profit after tax for Q4 was SEK -174m (‑166), corresponding to earnings per share after dilution of SEK -1.04 (‑0.98). Operating cash flow was SEK -188m (‑81), affected by lower working‑capital inflows and continued high capex (mainly Jönköping).

Balance sheet & leverage

At year‑end Nobia reported net debt excluding IFRS16 leases and pensions of SEK 3,464m (1,839). Reported net debt including IFRS16 and pensions was higher (closing net debt SEK 5,383m). Leverage metrics were materially elevated (net debt/EBITDA ~7.6x on a 12‑month rolling basis, per the report).

Post‑quarter financing and structural actions

After the quarter Nobia closed a sale‑and‑leaseback of the Jönköping factory (cash proceeds ~SEK 1,090m), agreed divestments of Bribus (NL) and ewe (AT), reached an amendment/extension of its credit facilities, and the Board resolved on a fully guaranteed rights issue of approx. SEK 1,250m (fully covered). The Board proposes no dividend for 2023.

Operations & outlook

Market conditions remained weak with demand down markedly; management expects some stabilization in 2024 and recovery in 2025. The new Jönköping factory is planned to be fully operational by end‑2024 and is expected to improve Nordic EBITDA by roughly 3.5 percentage points when volumes recover.