New Wave Group NEWA B

Stockholm | Retail | Retail and brand-driven consumer goods
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Updated: 21 Sep 2026 Base analysis: 6 Apr 2026

The news check keeps the assessment current.

General analysis — not personal advice.

HOLD Clear

Wait for the Q1 report; consider adding 10–20% if margins clearly stabilize.

The company's fundamental strength remains but uncertainty around organic growth and one-off effects warrants a cautious stance after the Q2 report.

Market sentiment Negative →
Trend: Stable

Sentiment remains cautious after the report, where margin improvements are welcomed but weak organic growth and missed revenue dampen the reaction.

Risk assessment Medium
Dilution: Low Cash-flow positive, no equity raise indicated
Jurisdiction: Low Mainly Sweden/EU/US, low political risk
Execution: Medium ERP rollout and acquisition integration must deliver

HOLD is the call. Negative is the market mood. Medium risk means some things can go wrong.

Latest change
  • 21 Sep 2026 — The report showed lower-than-expected revenue but improved margin, driving the new news flow.

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About the company

New Wave Group designs, acquires, and develops brands across corporate profiling, sports & leisure, and gifts & home furnishings. The company is profitable and cash-flow positive, but margins have been pressured by FX, ERP investments, and acquisition integration.

Sector: Retail and brand-driven consumer goods
Type: Retail
Next report (Q3)
11 Nov 2026
Catalysts
●
1 Oct 2026
Uhlsport completion Medium
●
11 Nov 2026
Q3 report Medium
●
4 Dec 2026
Second dividend record date Low
Bull case

The company demonstrates strong pricing power and cost control through a 50 % gross margin in a weak macro climate.

Bear case

Organic growth is weak and a large part of the earnings lift is explained by one-off effects and acquisitions.

Why this signal

The company's fundamental strength remains but uncertainty around organic growth and one-off effects warrants a cautious stance after the Q2 report.

Recent news
  • The Q2 report was published on 20 August with revenue below expectations but improved margins. The uhlsport GmbH acquisition was announced on 31 August with completion expected on 1 October. CEO Torsten Jansson bought 345 000 shares for approximately 30 MSEK on 16 September.

Key figures

Revenue
Q2 2026
SEK 2.6B
Revenue TTM
H1 2026
SEK 4.9B
EBITDA
Q2 2026
SEK 295M
Net income
Q2 2026
SEK 202M
Cash
Q2 2026
SEK 95.0M
Gross margin
Q2 2026
50.0%
Exchange
Stockholm
Type
Retail
Sector
Retail and brand-driven consumer goods
New Wave Group NEWA B
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.