Nobia AB
NOBI
ISIN SE0000949331 / Valor 1438095
Nobia AB
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About company
Nobia AB is a Stockholm-based, publicly traded company that designs, manufactures and sells kitchen interiors and related components across several European markets. Operating through a portfolio of local brands and distribution channels, the company produces fitted kitchens, cabinets, fronts, worktops and accessories for both retail consumers and trade customers, supplying its own showrooms, retailers and professional installers. Its operations combine localized manufacturing and supply-chain functions with market-specific sales and service, positioning it as one of the larger European specialists in the kitchen market.
Summarized from source with an LLMView SourceSector: Consumer CyclicalsLatest Results (25.03.2026):
Nobia AB — fourth quarter 2023: Net sales fell sharply (‑19% y/y to SEK 3,050m; organic -22%), while gross margin improved to 35.1%. Operating profit excluding items affecting comparability (IAC) fell to SEK 3m (Q4 2022: SEK 25m) and reported operating profit was SEK -75m (‑131). Profit after tax was SEK -174m and operating cash flow was SEK -188m. Several post‑quarter transactions and a fully covered rights issue were announced to strengthen the balance sheet.
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.
Leadership
CEO Jon Sintorn announced his resignation and will leave to become CEO of another company; the Board is progressing recruitment of a successor.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
177 M
Market cap (USD)
6,009,259
Daily traded volume (Shares)
3.916 / 3.804
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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Ratings & reviews
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