Nimbus Group net sales decreased by 14% during the first quarter of 2026 due to a continued weak North American market.
Net sales for the last 12 months were down 16% year-on-year.
Organic growth was down 10% for the quarter and the order book at the end of March 2026 was down to SEK 431 million (624), of which commercial sales amounted to SEK 285 million (470) and retail sales to SEK 146 million (154).
The Group’s EBITA for the first quarter declined to SEK -30 million (-13).
However, the group says continued initiatives to improve the company’s financial performance were implemented during the quarter and are now beginning to yield results, including a marked improvement in operating cash flow.
We are not satisfied with the results for the quarter.
Johan Inden
“We are not satisfied with the results for the quarter, but the improved cash flow is an indication that we are on the right track and overall I see that our activities are beginning to have an effect,” said Nimbus Group CEO Johan Inden.
The group is also seeing a continued interest in its capabilities within workboats for defense purposes.
As part of this, approved sea trials have been conducted by the Swedish Defence Materiel Administration, FMV, with the workboat that Nimbus Group together with Svekon is developing for the Swedish Armed Forces.
“The global leisure-boat market continues to be characterised by cautious consumer behaviour and prolonged sales cycles,” said Inden.
Shorter order books
“This behaviour is evident among our dealers, who tend to place new orders later in the sales process.
“For Nimbus Group, this results in shorter order books. We now assess inventory levels at the dealer level to be historically low, in line with a market that is also at its lowest level in more than a decade.”
And he said that reduced overhead costs have not been sufficient to offset lower volumes and a weaker gross margin.
Lower margins on sales of older inventory boats and a continued weak performance in Edgewater, together with volume effects in production, were the main reasons for the decline in gross margin to 5.1%, down from 12.3%, during the quarter.
