Nimbus Group reported third-quarter net sales of SEK$265 million ($28 million), up 1% from SEK$263 million ($26.5 million) a year earlier, as the Sweden-based builder said its market has begun to stabilize after a prolonged downturn. The group’s brands include Nimbus, Alukin, Aquador, Falcon and U.S.-based EdgeWater.
Organic growth was flat at 0%, which the company framed as a positive shift from the declines of recent years. EBITA improved to SEK$-17 million ($-1.7 million) from SEK$-45 million (-$4.5 million) a year earlier, driven by a higher gross margin and lower operating costs. The order book grew to SEK$605 million ($61 million) from SEK$358 million ($36 million), boosted by a Swedish defense contract.
“In a market that has stabilized at a low level, Nimbus Group improved the quarter-to-quarter performance,” president and CEO Johan Inden said in a press release. “This progress reflects our continued focus on targeted initiatives to strengthen profitability, cash flow and operational efficiency.”
Inden pointed to signs of a firming market, citing stronger boat-show attendance, low dealer inventory levels and a strong boating season in Sweden. He also noted continued work to stabilize the company’s U.S. operations: “We have significantly reduced EdgeWater’s negative earnings contribution while continuing our work to restore the business to balance.” Nimbus has said it will no longer build the Nimbus brand at the EdgeWater facility in Florida and is reviewing the operation’s long-term plans.
The company also continued its push into the defense and workboat segments, beginning production of autonomous unmanned surface vessels for Nautrik during the quarter. In the first nine months of 2026, net sales were SEK$1,001 million ($101 million) , down 12% from the prior year, while free cash flow improved to SEK$73 million ($7.3 million) from SEK$-80 million (-$8.1 million).
