NEWA-BNasdaq StockholmConsumer DiscretionaryIFRS · SEK

New Wave

New Wave Group is a Sweden-based brand group that creates, acquires, develops, and distributes products under a portfolio of owned brands. Its business spans corporate promotional products, sports and leisure apparel, and gifts and home furnishings, with sales through both promotional and retail channels across multiple international markets.

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Revenue10.0bn SEK
+5.1 %y/y
Operating profit (EBIT)1,141m SEK
−9.6 %y/y
EBIT margin11.4%
−1.9 ppy/y
Net income295m SEK
−66.5 %y/y
Free cash flow9.0m SEK
−99.1 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

020406080100bn SEK2021: 6.7 bn SEK2021: EBIT 1.0 bn SEK20212022: 88.4 bn SEK2022: EBIT 15.1 bn SEK20222023: 9.5 bn SEK2023: EBIT 1.6 bn SEK20232024: 9.5 bn SEK2024: EBIT 1.3 bn SEK20242025: 10.0 bn SEK2025: EBIT 1.1 bn SEK202510.01.1
RevenueOperating profit (EBIT)
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Business

Share of revenue
Corporate40 %

Promotional and workwear products sold to corporate and distributor customers.

Sports & Leisure35 %

Apparel and accessories for sports, outdoor, and active lifestyle use.

Gifts & Home Furnishings25 %

Giftware, tableware, and interior products sold under owned brands.

Customers

New Wave Group sells to distributors, retailers, and other commercial buyers that need branded products, uniforms, sportswear, or gift and home items. The company also serves end customers indirectly through retail channels and through its own brand concepts. Its two-channel model helps it reach both promotional buyers and consumer-facing retail accounts.

Promotional market distributors

Buy branded apparel and accessories for corporate campaigns, uniforms, and giveaways.

Retail accounts

Buy sports, leisure, gift, and home products for resale under established brands.

Corporate end users

Purchase workwear and branded clothing for employees and customer-facing use.

Consumer retail shoppers

Buy branded lifestyle, gift, and home products through retail channels.

Strategy

The company’s strategy is to acquire, establish, and develop brands and concepts, then scale them across new markets through coordinated design, sourcing, marketing, warehousing, and distribution. It uses both promotional and retail channels to diversify risk, while expanding through subsidiaries and distributor-led market entry where appropriate.

Brand acquisition and developmentLong term

Owned brands are the core asset and support pricing power and market reach.

International market expansionMedium term

New markets broaden the revenue base and reduce dependence on any one region.

Supply chain and sourcing coordinationShort term

Centralized purchasing and logistics improve efficiency across the brand portfolio.

Sustainability-led product developmentMedium term

More sustainable products support customer demand and future assortment relevance.

Geography

New Wave Group is headquartered in Gothenburg, Sweden, and operates sales subsidiaries in 20 countries. Its reported revenue mix includes a large Nordic base and a meaningful North American presence, while sourcing is concentrated in Asia and selected other low-cost manufacturing and purchasing locations. This geographic structure supports brand reach, but it also ties the business to cross-border logistics, supplier access, and regional demand conditions.

Risks

The business depends on stable access to raw materials, functioning supply chains, and customer trust, so disruptions can affect both operations and brand reputation. It is also exposed to climate-related sourcing and logistics risks, especially because much of production is outsourced and cotton remains an important input. As a branded consumer and promotional goods company, it also faces demand cyclicality, supplier concentration, and execution risk when entering new markets.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Raw material availability and price volatility1Supply chain disruption2Supplier working conditions and human rights3Climate-related physical and transition risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Raw material availability and price volatilityImpact: HighLikelihood: Medium

    The business relies on stable access to inputs such as cotton and other textiles.

    Exposure: Apparel and textile sourcing

  2. Supply chain disruptionImpact: HighLikelihood: Medium

    Products are manufactured largely by external suppliers and moved internationally.

    Exposure: Global sourcing and logistics

  3. Supplier working conditions and human rightsImpact: HighLikelihood: Low

    A large share of production is outsourced to third-party factories.

    Exposure: Asia-based manufacturing network

  4. Climate-related physical and transition riskImpact: MediumLikelihood: Medium

    Weather events, regulation, and energy changes can affect sourcing and transport.

    Exposure: Production countries and transport routes

  5. Market expansion execution riskImpact: Medium

    Launching brands in new countries requires channel fit and local demand traction.

    Exposure: International subsidiaries and distributor launches

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Accounting

Judgemental items
Business combinations and goodwill

Acquisitions are part of the growth model, so purchase accounting and impairment are material.

Impact: Can create large intangible assets and future impairment charges

Lease accounting

Leased facilities and offices are recognized on balance sheet under IFRS 16.

Impact: Affects leverage, EBITDA presentation, and depreciation/interest split

Hedge accounting

Cash-flow hedges are used for financial risk management.

Impact: Moves gains and losses through OCI before recycling to earnings

Inventory valuation

The group carries broad product assortments and older stock.

Impact: Obsolescence and slow-moving inventory can pressure asset values

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Last updated: 24/09/2026