Sweden-based Nimbus Group this week released the results of its fiscal first quarter.
Net sales amounted to SEK$257 million ($27.7 million), a 14% decrease from the year-ago quarter. Commercial sales declined SEK$39 million ($4.2 million) year-over-year to SEK$205 million ($22.1 million), while retail sales were down SEK$4 million ($430,524) to SEK$52 million ($5.6 million).
“Geopolitical uncertainty and cautious behavior among our leisure boat customers continued to affect our operations during the first quarter of 2026,” CEO Johan Inden said in a statement. “We are seeing a continued interest in our capabilities within workboats for defense purposes, but as this business area is still new, it has not yet had a decisive impact on our results. Overall, we are not satisfied with the performance of the quarter and are continuing to work decisively with the result improving measures previously communicated.”
Additional results included a loss of operating cash flow of SEK$29 million ($3.1 million), which was down SEK$127 million ($13.7 million) and related to operating activities and investments. EBITA amounted to a loss of SEK$30 million ($3.2 million), and EBITA margin was in the red at 11.6%, a 4.2% decline from the previous year.
Nimbus Group did not release forward-looking statements for the remainder of the year, but Inden added in the statement: “Overall, I see that our initiatives are beginning to have an impact, although they are currently overshadowed by continued uncertainty in the global environment and a cautious market. We therefore remain prepared to implement additional measures if needed.”
