Synsam shares jump 3% after Q3 sales rise 9.9%

Shares in Swedish eyewear retailer Synsam Group jumped more than 3% after it reported a 9.9% increase in third-quarter net sales to 1.90 billion Swedish crowns, with organic growth of 7.6%.

The company’s gross margin increased to 73.6% from 73.1%, while EBIT rose to SEK 231 million from SEK 207 million. The EBIT margin improved to 12.0% from 11.8%. Profit after tax totaled SEK 91 million, down from SEK 130 million in the year-ago period.

Net sales from spectacles subscriptions grew 14.2% during the quarter. The company had approximately 793,000 customers with spectacles subscriptions at the end of September, up 7.1% from the previous year. Total subscription customers for spectacles and contact lenses reached approximately 945,000.

Cash flow from operating activities amounted to SEK 189 million compared to SEK 235 million in the prior year quarter. Net debt stood at SEK 3,205 million at the end of the period, up from SEK 2,975 million at year-end 2025. The company’s share buyback program increased net debt by SEK 200 million in 2026.

For the nine-month period, net sales increased 8.4% to SEK 5,725 million. EBIT rose to SEK 707 million from SEK 648 million, while profit after tax increased to SEK 413 million from SEK 331 million.

Synsam established three new stores in the third quarter, bringing the total number of stores opened since the beginning of 2024 to 85. The company plans to open two to four additional stores in the fourth quarter.

After the end of the period, the company purchased 723,730 of its own shares for SEK 40 million under its share buyback program.