Nimbus Group reports stable Q3 sales as it looks to strengthen profitability

“While we have made meaningful progress there is still work to be done,” says Johan Inden Nimbus Group president and CEO, announcing the company’s third quarter results 2026. This autumn marks his first year at the helm of the group.

His comments comes as Nimbus Group’s sales have flattened for the first time after a prolonged downtrend (an important milestone). Better pricing and a stronger product mix have helped drive a rise in gross profit while the company reports progress on cost control and production efficiency.

“In a market that has stabilised at a low level, Nimbus Group improved the quarter to quarter performance. This progress reflects our continued focus on targeted initiatives to strengthen profitability, cash flow and operational efficiency,” he says.

Nimbus Group produces and markets powerboats which includes the brands Alukin (defence offering), Aquador, EdgeWater, Falcon, Nimbus and Paragon Yachts. Sales are made through dealer networks and its largest markets are the Nordic region, Europe and the USA.

Nimbus Group targets further cost savings and efficiency gains

Inden’s employing a basic philosophy – there is more to do on the cost side. “We’re looking at efficiency across our reporting processes . . . We’re looking at how AI contributes to make us faster and less resource intense . . . There is more to be done.”

The global marine market has continued to face challenges from weak consumer confidence, high interest rates, and elevated energy costs. At the same time, Inden says there was increased attendance at international boat shows, low dealer inventory levels, and a strong boating season in Sweden, with marinas experiencing higher occupancy rates than they have had for several years.

“From a global perspective, our industry has undergone a healthy consolidation, both among dealers and boat manufacturers. Overall, the global market has stabilised over the past year, although at a low level. Success in such a market environment requires focused market activation, continuous product portfolio renewal, and strong cost discipline.”

He adds: “We see a market in general, which has been a fairly low level of activity in onboarding or off-boarding dealers, not only for Nimbus, but across the global industry, as it has been a few tougher years.”

USV partnership offers potential for growth beyond leisure

But, during this third quarter, Nimbus Group’s strategic partnership with Nautrik AB to produce autonomous unmanned surface vessels (USVs) is taking shape. The first batch of units has been delivered and has successfully completed acceptance and verification testing with positive results.

“We know that the general market for USVs is growing quite rapidly, but we are still to see what is the potential of this exact collaboration. I would like to see how the collaboration translates into orders etc,” says Inden. Existing infrastructure is being utilised to serve the new market. Inden says prototype volumes have been produced with a limited financial impact on the group. “Our investment in the defence and workboats segments remains a cornerstone of our strategy for long-term profitability and growth.”

Third quarter 2026 against first nine months

• Net sales amounted to SEK 265 million, which was an increase of 1 per cent compared with the previous year. (In the first nine months of 2026, net sales amounted to SEK 1,001 million, which was a decrease of 12 per cent compared with the previous year.)
• Commercial sales amounted to SEK 163 million and retail sales to SEK 102 million. (In the first nine months of 2026, commercial sales amounted to SEK 571 million and retail sales to SEK 430 million.)
• Organic growth amounted to 0 per cent. (In the first nine months of 2026, organic growth amounted to -11 per cent.)
• EBITA amounted to SEK -17 million. (It was SEK -22 million in the first nine months of 2026.)
• The EBITA margin was -6.6 per cent. (In the first nine months of 2026 the EBITA margin was -2.2 per cent.)
• Free cash flow amounted to SEK -37 million. (In the first nine months of 2026, free cash flow amounted to SEK 73 million.)
• The order book at the end of the period amounted to SEK 605 million, of which commercial sales amounted to SEK 524 million, which includes SEK 260 million related to boats ordered by the Swedish Defence Materiel Administration (FMV), with deliveries during three years scheduled to start in Q2 2027.

“In the third quarter, Nimbus Group sales were in line with last year,” notes Inden. “This supports our assessment that the market is stabilising at a low level and marks a shift from the negative trend seen in recent years. Order intake was strong and amounted to SEK 522 million, compared with SEK 212 million in the corresponding quarter of the previous year. The increase was primarily driven by the launch of the Nimbus Sport Tender 35 and by the inclusion in the order book of the full order of MSMB200 from the Swedish Defence Materiel Administration (FMV), valued at SEK 260 million. At the end of the quarter, the order book amounted to SEK 605 million, compared with SEK 358 million a year earlier.”

Edgewater stabilisation continues

Inden reports that efforts to stabilise operations at Edgewater are continuing, with efficiency improvements and capacity reductions delivering tangible results. “We have significantly reduced Edgewater’s negative earnings contribution, while continuing our work to restore the business to balance. Given our strategy to no longer manufacture the Nimbus brand at Edgewater, we are also reviewing our long-term plans for the operation.”

More recently, Mikael Mårtensson became CFO on 1 October 2026, and the group revealed that its latest, the Sport Coupé 35, will make its world premiere at the boat show in Düsseldorf in January 2027.