WS WeSports Group, the Sweden-based manufacturer of sports equipment and parent of a number of specialty retailers, reported sales in the second quarter catapulted 54.7 percent to SEK 1,177.6 million ($123 mm) from SEK 761.4 a year ago. Organic growth amounted to 21.6 percent.
WeSport said in its quarterly report, “Growth was primarily driven by our market-leading companies within cycling and running, which have part of their high season during the quarter. Assortment development and good product availability were the foundation, which enabled us to effectively meet the strong spring demand.
“The strong organic growth was mainly volume-driven and broadly anchored across the Group, with most of our companies developing well. In addition to cycling and running, important growth contributions came from, for example, companies within fitness and hockey. This is clear proof that our decentralised model, with experienced company management teams combined with clear strategic Group initiatives, works.”
WeSports’ running and cycling brands include RunningXpert, Void Cycling, Cykelkraft, Cykloteket, and Bikester (Nordic operations). Other brands include Addnature, Addnature, Løbeshop, Hockeystore, Tretorn, Gymstic, Fitness Brands, Unihoc, Zone, SportLife Nutrition, NordicaGolf, Bikelease: and Klubbhuset. WeSports owns a total of 41 brands.
Profit for the quarter amounted to SEK 34.8 million, up 54.7 percent from SEK 22.5 million a year ago. Adjusted gross margin improved 37.1 percent from 36.4 percent. Adjusted EBITA jumped 55.8 percent to SEK 88.0 million from SEK in the comparable period a year ago, with adjusted EBITA margin amounting to 7.5 percent against 7.4 percent a year ago.
In the half, sales increased 53.4 percent to SEK 2,138.1 million, with orrganic growth of18.5 percent. Adjusted gross margins increased to 36.4 percent from 35.5 percent., Adjusted EBITA jumped 66.1 percent to SEK 126.4 million and adjusted EBITA margin amounted to 5.9 percent (5.5). Profit for the period amounted to SEK 42.6 million, up from SEK 26.8 million.
Executive Commentary
“We are well positioned in a growing market where we continue to gain market share – with organic growth of 21.6 percent and a total increase in net sales of 54.7 percent during the quarter,” said Ted Sporre, CEO of WS WeSports Group. “We have the right team, long-term owners and a robust Nordic base of leading specialist companies in a growing market. Together, this gives us a better starting point than ever before in the work towards our financial targets – an adjusted EBITA margin of 7–8 percent and net sales of SEK 10 billion in 2031,” says Ted Sporre, CEO of WS WeSports Group.
Significant Events During The Quarter And After The End Of The Period
- After the end of the quarter, 65 percent of the sports nutrition company Elite Fitness OY was acquired. The company will be consolidated during the third quarter of 2026. Elite Fitness OY generated sales of approximately €8 million during the calendar year 2025 and is expected to strengthen the Group’s share of own and controlled brands and create further cross-selling opportunities within WeSports Group.
- At an Extraordinary General Meeting on 8 April, three long-term incentive programs (LTIP26/29, LTIP26/30 and LTIP26/31) were resolved upon, consisting of warrants for current and future key individuals within WeSports Group. A total of 122,000 warrants were issued in each series, corresponding to 366,000 warrants. Each warrant entitles the holder to subscribe for one share at subscription prices of SEK 100, 110 and 120, respectively. As of the reporting date, 319,592 warrants had been transferred to key individuals within the Group.
- During the quarter, the company increased its ownership in SkiCom Sweden AB from 51 to 80 percent and in Bikelease AB from 60 to 100 percent. This is in line with the company’s strategy of building long-term partnerships with strong entrepreneur-led specialist companies, where ownership is gradually increased over time.
- On 21 May, the Ccmpany held its Annual General Meeting in Stockholm, where the adoption of the annual accounts, discharge from liability and the appropriation of profits were resolved. The meeting also resolved to follow the nomination committee’s proposals regarding board members, chairman and auditor.
