Stable growth and increased profitability
1 July-30 September 2026
1 January-30 September 2026
Events after the end of the period
President and CEO Håkan Lundstedt comments:
"We delivered stable growth and improved profitability in the third quarter. At the same time, we continued to strengthen our market positions in the Nordic region, in a market, with negative growth in the Swedish optical retail market, for example, for the third quarter.
Net sales increased 9.9 percent, organic growth totalled 7.6 percent and like-for-like growth amounted to 5.9 percent. EBIT increased 11.7 percent to SEK 231 million (207) and the EBIT margin improved to 12.0 percent (11.8).
Stable growth in all markets
Sweden continued its strong performance for another quarter. Organic growth totalled 7.4 percent in parallel with an improved gross margin and EBIT margin. Synsam EyeView contributed to increased availability and supported growth during the period.
Denmark demonstrated continued momentum and favourable growth in the quarter, with organic growth totalling 10.3 percent for the quarter. It is encouraging to see that the measures we have implemented in Denmark are beginning to yield results in a highly competitive market. As in the first two quarters of the year, sales were positively impacted by the changes to the handling of returns in Lifestyle.
Organic growth in Norway amounted to 7.3 percent. The gross margin improved while the EBIT margin declined, partly due to higher depreciation due to new store establishments and upgrades compared with the previous year. Synsam EyeView contributed to increased availability and supported growth during the period.
As planned, Finland improved its gross margin and EBIT margin during the quarter. Organic growth totalled 6.7 percent in a market where competition remains intense.
Continued strong development in subscriptions and the cash business
Net sales from the Synsam Lifestyle spectacles subscription increased 14.2 percent during the quarter. At the end of the quarter, approximately 793,000 (approximately 741,000) customers had spectacles subscriptions, an increase of 7.1 percent compared with the previous year. The total number of subscription customers for spectacles and contact lenses amounted to approximately 945,000 (approximately 883,000) on 30 September 2026.
The subscription business is a key driver of stable and profitable growth. Increased loyalty and long-term relationships are a direct result of our customer offering. The cash business also reported a positive development, with net sales up 5.4 percent compared with the corresponding quarter last year.
Successful investments in House Brands
Our investments in our House Brands were once again successful, with Erling Haaland Eyewear and Isak V standing out as two clear examples. By developing attractive and exclusive eyewear collections, we strengthen our brand portfolio, expand our product range and create greater value for customers. During the quarter, we also announced a new collaboration with the musical artist Carola Häggkvist. The new collection, which will be launched in our stores across the Nordic region and online in early 2027, will be partially manufactured at our production and innovation centre in Sweden. These initiatives complement our existing successful brands, such as Peter Forsberg, Oscar Eide, Jämtö, Isa Nord and Alicia Lind.
Continued positive development for smart glasses
We are noting continued strong demand for smart glasses. Smart glasses have performed well to date in 2026, and we continue to see significant long-term growth potential in this category. The business is still in an early stage, and we expect to gain a clearer picture in 2027 in terms of how quickly interest and demand are growing among a broader customer base.
Continuing expansion through new establishments
Synsam established three new stores in the third quarter, bringing the total number of stores established since the beginning of 2024 to 85. During the fourth quarter, we plan to establish an additional two to four stores, essentially achieving our goal of 90 new stores during the 2024-2026 period. Our new stores are quickly achieving profitability. We continue to see good potential for further expansion in the Nordic region."
Live Q&A in Swedish
Please note that the AI-generated translation may contain inaccuracies or errors. In the event of any discrepancies, the statements made in Swedish during the live webcast shall prevail.
Live Q&A in English
The presentation material will be available on the website at 07:30 a.m. CET today. www.synsamgroup.com/en/investors/financial-reports/
For further information, please contact:
Per Hedblom, CFO Synsam Group
E-mail: per.hedblom@synsam.com
Tel: +46 (0)8 619 28 60
Website: www.synsamgroup.com
This information is such that Synsam AB (publ) is obligated to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7:30 a.m. CET on 12 November 2026.
Synsam Group is a leading optician group in the Nordic region, with a differentiated and affordable subscription offering. Synsam Group offers a wide range of products and services for eye health and eye fashion, catering to the customer's different lifestyles and needs. The group has approximately 5,600 employees, net sales of approximately SEK 7.5 billion (rolling twelve months until September 2026) and approximately 600 stores in the Nordics, operating under the brands Synsam, Synsam Outlet and Profil Optik in Denmark. Through digitalization, subscription services and other innovative concepts, Synsam Group is at the forefront of innovation in the Nordic optical retail market across multiple dimensions including customer journey, product offering and ESG. Synsam Group's share is traded on Nasdaq Stockholm (SYNSAM). www.synsamgroup.com