Nimbus Group sales decreased by 13% to MSEK 300 (344) during the first quarter of 2025 with the market situation remaining difficult to assess
Commercial sales to dealers decreased by 17% with a particularly steep decline in sales in the Group’s Other Markets.
Sales in North America were unchanged compared to the previous year with sales of Edgewater boats increasing by 110% – explained by a production halt in 2024.
Increased uncertainty in the US economy led to a waker market than expected with new orders in North America decreasing to MSEK 95 from MSEK 117 during the period.
Sales in the Nordics decreased 34% and sales in Europe increased by 15% and sales in Other Markets decreased to MSEK 5 from MSEK 51.
Overall, EBITA amounted to MSEK -13 (-14) and the EBITA margin was – 4.2% (-4.0)).
Retail sales – which operate in Sweden, Norway and the UK – increased to MSEK 56 (49) following increased sales in the Nordic region.
Uncertainty is not a new phenomenon but one that an experienced boat manufacturer must continuously adapt to.
Jan-Erik Lindström
“When the year began there were signs of a brightening but increased global uncertainty about economic developments has led to a return to a more wait-and-see attitude among customers,” said Jan-Erik Lindström, CEO of Nimbus Group.
“In the second half of 2024, signs began to emerge of an impending market turnaround, and as 2025 began, there was reason to expect a continued recovery.
“However, the end of the first quarter did not unfold as we had hoped.
“Instead, the quarter was characterised by a return to uncertainty and a cautious approach from customers.”
And he explained that the Group would continue to expand the number of resellers within the Commercial Sales section while also continuing to focus on the premium segment.
Production for 2025 for the Group’s flagship model, the Nimbus 495, is sold out.
The Group will compensate for any increased costs through price adjustments and is aiming to streamline its export processes to counteract the effects of new tariffs.
Early signs of a potential market recovery are being seen in Europe.
“Our assessment is that the market may now be on the verge of turning around after several years of weak demand,” said Jan-Eric.
But he cautioned: “We can confirm that the market situation remains unusually difficult to assess, and that the uncertainty is likely to persist for some time.
“However, for Nimbus Group, uncertainty is not a new phenomenon but one that an experienced boat manufacturer must continuously adapt to.”
