WeSports Group Sprints to 51.8% Sales Surge in Q1, Bolstered by Winter Peaks and Early Spring Demand

WS WeSports Group, the specialized sports equipment powerhouse and parent company to major retailers like RunningXpert and HockeySports, reported a massive jump in its first-quarter performance for 2026. Driven by a combination of favorable weather patterns and a flurry of strategic acquisitions, the group's net sales climbed 51.8 percent year-over-year to SEK 960.5 million.

The Group’s performance highlights the resilience of its "diversified specialist" model, which managed to capture high demand for winter gear during a snowy start to the year before pivoting seamlessly to cycling and running as spring arrived early in March.

Financial Highlights: Q1 2026 vs. Q1 2025

Weathering the Seasons: From Skis to Spokes

The quarter was a tale of two climates. A snowy winter initially boosted specialist winter companies such as Pölder Sport and Skicom (comprising Bromma Skidsport and Udens Sport). As temperatures rose in March, the momentum shifted to the Group’s "mobility" and running arms.

CEO Ted Sporre noted that while the winter chill initially suppressed cycling interest, the late-quarter surge in Cykelkraft, Bikelease, and RunningXpert validated the company’s multi-category strategy.

"This illustrates the benefit of our diversification across different sports and companies," Sporre stated. "We meet customers’ needs regardless of the season and weather conditions."

M&A Engine Fires on All Cylinders

Expansion remained a core theme for the Malmö-based group during the quarter. Key movements included:

New Acquisitions: Obtained controlling influence over NG Partners AB (Golf), Renew Group Sweden AB (Floorball brands Unihoc and Zone), and Greenspire Invest AS (Birk Sport in Oslo).

Consolidating Ownership: Increased stakes to 100% in Bikelease Sweden AB and to 80% in Skicom Sweden AB.

Racket Sports Push: Subsidiary Vartex AB acquired TennisShopen Scandinavia AB, adding approximately SEK 15 million in annual sales to the group’s racket sports portfolio.

Profitability and Operational Efficiency

The 110 basis-point improvement in adjusted gross margin was credited to a higher mix of "own and controlled" brands and the inclusion of high-margin newly acquired companies.

Notably, WeSports reported a shift in cost structure, with personnel costs rising 53.4% as the company moved warehouse management in-house. This strategic pivot, however, led to higher operational leverage, as total operating expenses decreased in relation to overall revenue. Adjusted EBITA nearly doubled, reaching SEK 38.4 million.

Looking Ahead: The Road to SEK 10 Billion

Despite global geopolitical uncertainty, WeSports remains optimistic. The company reported a significantly improved cash flow—though naturally negative due to seasonal inventory build-up—narrowing to negative SEK 11.9 million from negative SEK 65.3 million the year prior.

The Group is maintaining its "Long-Term 2031" targets:

Net Sales: SEK 10 Billion.

Adjusted EBITA Margin: 7–8%.

Sporre emphasized that the ongoing health and wellness trend, combined with a shift toward cost-efficient transportation like e-bikes and cargo bikes, positions the group as a leader in the Nordic "mobility" market. "We remain committed to driving our strategy with a focus on profitable growth, while currently maintaining a strong financial position," Sporre concluded.