Swedish powerboat maker Nimbus Group reported a second-quarter profit despite a 16 percent drop in net sales, as cost-cutting and improved margins offset weaker demand across its dealer network.
Net sales for the April–June period fell to SEK$479 million ($50 million) compared to SEK$571 million ($59 million) a year earlier, with commercial sales softening across North America, Europe and the Nordic region. Retail Sales held steady. EBITA came in at SEK$26 million ($2.7 million), essentially flat with the prior year, as stronger gross margins and the effects of the company’s ongoing performance improvement program compensated for lower volume.
Operating cash flow was a bright spot, more than doubling year-over-year, driven by reduced working capital and improved inventory management. The Edgewater brand, however, continued to weigh on results, prompting further capacity reductions during the quarter.
“The Edgewater business continued to generate negative results,” Johan Inden, president and CEO, said in a statement. “During the quarter, we implemented further capacity reductions at Edgewater and carried out additional cost-saving measures. However, these actions have not been sufficient, and Edgewater continued to have a negative impact on the quarter’s result. We remain focused on turning the business around through further reviews of capacity, pricing, production costs and the Edgewater model range.”
On the product and contract front, Nimbus secured its first order for the MSMB200 workboat from the Swedish Armed Forces, valued at approximately SEK 260 million and to be delivered over 36 months beginning in early 2027. The company also unveiled the Sport Tender 35, first in a new Sport Cruiser series set for its world premiere at the Cannes Yachting Festival in September.
The interim report described dealer sentiment as cautious: “Despite low inventory levels, remained reluctant to place new orders.”
Nimbus Group markets powerboats under the Alukin, Aquador, EdgeWater, Falcon and Nimbus brands, with operations in Sweden, Finland, Poland, the United Kingdom, Norway and the United States.
