Sweden's Synsam Q2 net sales rise on subscription growth
Sweden's Synsam Q2 net sales rise on subscription growth
Overview
Sweden-based optician group's Q2 net sales rose 11.3% yr/yr, organic growth 9.8%
Company completed SEK 42 mln share buybacks after quarter-end under existing program
Outlook
Company plans to open 2-4 new stores in Q3 2026 in the Nordic region
Synsam sees strong potential for further expansion in the Nordic region
Company says innovation and subscriptions remain key drivers for future growth
Result Drivers
SUBSCRIPTION GROWTH - Net sales from spectacles subscriptions rose 16.6% yr/yr, with total subscription customers increasing to about 931,000
ORGANIC GROWTH IN ALL MARKETS - All markets reported positive organic growth, with Sweden and Norway seeing improved margins
INNOVATION AND STORE EXPANSION - Growth supported by new product categories such as smart glasses, increased use of EyeView, and eight new store openings
Company press release: ID:nWkr3Xc0fT
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| SEK 2.05 bln |
|
Q2 Net Income |
| SEK 192 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy."
Wall Street's median 12-month price target for Synsam AB (publ) is SEK80.00, about 42.9% above its August 20 closing price of SEK56.00
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)