Statement by CEO – Karl Kristian Bergman Jensen

2025-04-29

The positive development observed during the fourth quarter of 2024 continued into the first quarter of 2025. Revenue increased by 10% during this quarter, reaching 143.8 MSEK, while net profit after tax amounted to 2.7 MSEK.

We noted stable growth in the Nordics during this quarter. Denmark exhibited the strongest growth with a significant rise in sales, while Sweden and Norway experienced more modest gains. Our retail partners are evolving differently across countries, and we continue to face challenging market conditions in Sweden and Norway. Despite this, we remain optimistic about the future and expect ongoing growth in the region.

In Europe, the United Kingdom and Ireland reported robust growth, mainly fueled by successful product innovations. In Germany, we observed continued growth despite challenging market conditions. Most other European markets showed stable development, with the exception of Italy, where we have initiated improvement efforts through innovation. In the Benelux, responsibility for distribution in Belgium and Luxembourg has now been fully taken over internally, laying the groundwork for future revenue growth. In Central Asia, the transition to a distributor-led operation has been successfully completed, and our partnerships are functioning well.

The USA and Canada both showed solid growth during this quarter. The USA experienced double-digit growth, driven by increased marketing efforts, while innovation was the primary driver behind growth in Canada.

Sales in other global markets declined compared to the previous year. This decline is primarily due to large initial purchases by our Chinese cross-border distributor during the same period in 2024. In Vietnam, our distributor continues to deliver strong results and remains our largest international partner.

We expect continued positive development of the company’s revenue, but we are operating during a turbulent time when consumer confidence and purchasing behavior are difficult to predict, particularly due to the recent introduction of new U.S. and other international tariffs.

During this quarter, we launched several new products that reinforce our position within strategic key categories. Among these are: Good Eyes™, several products within the Magic Magnesium™ series, and several new “gummies” variants. These products are expected to contribute significantly to growth during 2025.

Three of our most iconic products — Blue Berry™ eye tablets, Cran Berry™, and Apple Cider™ tablets — will celebrate 25 years on the market in 2025.

We have also started the year with notable awards: Herbal Joy™ Firming Body Lotion won the Swedish Beauty Award 2025 in the category “Body Care Product of the Year over 200 SEK,” and New Nordic was named Supplier of the Year by the retail chain Kinsarvik Naturkost in Norway.

We continue to work toward our strategic goal of consolidating and strengthening our presence in all existing markets. With a strong sales and marketing network in Europe, North America, China, Vietnam, Hong Kong, and Australia, along with direct-to-consumer webshops in 23 countries, New Nordic stands on a very solid platform for continued growth.

We will continue to focus on driving organic growth, improving operational efficiency, and increasing earnings per share.

We are confident that the initiatives planned for 2025 will further enhance shareholder value and position New Nordic for long-term, sustainable success.

Karl Kristian Bergman Jensen, CEO
New Nordic Healthbrands AB
Södra Förstadsgatan 3 C
SE-211 43 Malmö
Sweden