Orthex Corporation: Interim Report January–September 2026
Orthex Corporation, Stock exchange release, 5 November 2026 at 9.00 a.m. EET
Q3: Record quarterly sales and solid profitability
This release is a summary of Orthex Corporation’s Interim Report for the period January–September 2026. The complete report is attached to this release as a pdf-file. It is also available on Orthex’s website at https://investors.orthexgroup.com/.
July–September 2026
- Invoiced sales amounted to EUR 26.5 million (23.6)
- Net sales increased by 10.2% to EUR 25.8 million (23.4)
- Adjusted EBITDA was EUR 5.0 million (4.5)
- Adjusted EBITA was EUR 3.7 million (3.3), representing 14.2% of net sales (14.3)
- Operating profit was EUR 3.7 million (3.3)
- Net cash flows from operating activities were EUR 3.7 million (5.9)
- Earnings per share was EUR 0.14 (0.14)
- Profitability remained solid despite continued high raw material prices.
January–September 2026
- Invoiced sales amounted to EUR 71.4 million (66.7)
- Net sales increased by 6.2% to EUR 68.9 million (64.9)
- Adjusted EBITDA was EUR 11.0 million (10.4)
- Adjusted EBITA was EUR 7.1 million (6.8), representing 10.3% of net sales (10.4)
- Operating profit was EUR 6.5 million (6.8)
- Net cash flows from operating activities were EUR 9.0 million (9.8)
- Net debt / Adjusted EBITDA was 0.9x (1.0x)
- Earnings per share was EUR 0.24 (0.26)
The figures in brackets refer to the corresponding period in the previous year unless stated otherwise. The figures are unaudited.
Long-term financial targets
As long-term financial targets the company has adopted to the following:
- An average annual organic net sales growth to exceed 5% at the Group level and to exceed 10% outside the Nordics (growth in local currencies).
- Adjusted EBITA margin (adjusted for items affecting comparability) to exceed 18% over time.
- Net debt to adjusted EBITDA ratio (leverage) to stay below 2.5x. Leverage may temporarily exceed the target range (for example, in conjunction with acquisitions).
- The company aims to distribute a stable and over time increasing dividend with a pay-out of at least 50% of net profit, in total, on a biannual basis.
Orthex does not publish a short-term outlook.
Key figures
| EUR million | 7-9/2026 | 7–9/2025 | Change | 1-9/2026 | 1-9/2025 | Change | 2025 |
| Invoiced sales | 26.5 | 23.6 | 11.9% | 71.4 | 66.7 | 7.1% | 89.6 |
| Net sales | 25.8 | 23.4 | 10.2% | 68.9 | 64.9 | 6.2% | 87.2 |
| Gross margin | 7.4 | 6.7 | 10.6% | 19.0 | 18.3 | 3.8% | 25.0 |
| Gross margin, % | 28.7% | 28.5% | 27.5% | 28.1% | 28.7% | ||
| EBITDA | 5.0 | 4.5 | 9.4% | 10.4 | 10.4 | 0.4% | 14.7 |
| EBITDA margin, % | 19.3% | 19.4% | 15.1% | 16.0% | 16.8% | ||
| Adjusted EBITDA | 5.0 | 4.5 | 9.4% | 11.0 | 10.4 | 6.0% | 14.7 |
| Adjusted EBITDA margin, % | 19.3% | 19.4% | 16.0% | 16.0% | 16.9% | ||
| EBITA | 3.7 | 3.3 | 9.2% | 6.5 | 6.8 | -3.8% | 9.8 |
| EBITA margin, % | 14.2% | 14.3% | 9.5% | 10.4% | 11.2% | ||
| Adjusted EBITA | 3.7 | 3.3 | 9.2% | 7.1 | 6.8 | 4.6% | 9.8 |
| Adjusted EBITA margin, % | 14.2% | 14.3% | 10.3% | 10.4% | 11.3% | ||
| Operating profit | 3.7 | 3.3 | 9.2% | 6.5 | 6.8 | -3.8% | 9.8 |
| Operating profit margin, % | 14.2% | 14.3% | 9.5% | 10.4% | 11.2% | ||
| Net cash flows from operating activities | 3.7 | 5.9 | -37.2% | 9.0 | 9.8 | -7.8% | 12.3 |
| Net debt / Adjusted EBITDA | 0.9x | 1.0x | 0.9x | 1.0x | 1.1x | ||
| Adjusted return on capital employed (ROCE), % | 11.9% | 10.7% | 21.9% | 21.2% | 28.6% | ||
| Equity ratio, % | 45.8% | 44.3% | 45.8% | 44.3% | 46.8% | ||
| Earnings per share, basic (EUR) | 0.14 | 0.14 | 5.5% | 0.24 | 0.26 | -9.5% | 0.38 |
| FTEs (average) | 281 | 289 | -2.8% | 281 | 289 | -2.6% | 287 |
Alexander Rosenlew, CEO:
“Orthex achieved the highest quarterly net sales in its history, with Q3 net sales increasing by 10.2% compared to the third quarter of the previous year and amounting to EUR 25.8 million (23.4). In constant currencies, net sales increased by 9.3%. Year-to-date, net sales increased by 6.2% and amounted to EUR 68.8 million (64.9). The reported net sales growth was mainly driven by increased sales volume. The Storage category was the main driver of growth. Foreign exchange movements in the Nordic currencies had a positive impact on quarterly net sales.
Decisive and rapid price increases were implemented during the previous quarter in response to higher raw material costs and continued volatility in global supply chains. In the Nordics, where our market position and our brands are strong, Q3 invoiced sales grew by 15.0% thanks to higher sales volume. In the Rest of Europe, invoiced sales totalled EUR 5.3 million (5.3). Sales in the Rest of Europe developed positively towards the end of the quarter as price increases were implemented across markets. Sales momentum strengthened towards the end of the quarter, and we continued to expand SmartStore distribution across major European retailers.
A new quarterly sales record was achieved in the Storage category, with invoiced sales increasing by 16.6% compared to the Q3 in the previous year. We further expanded distribution, gained additional shelf space and strengthened our position with several key retail customers across Europe. Led by SmartStore, Storage continues to be the clear growth engine of Orthex and the cornerstone of our ambition to become Europe's leading storage brand. Invoiced sales in the Kitchen and Home & Garden categories remained stable, both growing at 1.1% year-on-year.
Compared to the third quarter of 2025, Orthex’s adjusted EBITA improved to EUR 3.7 million (3.3) and corresponding adjusted EBITA margin was 14.2% (14.3). Higher volumes, operational leverage, implemented price increases and disciplined cost control supported the improvement.
Our strategic ambition to accelerate profitable growth together with major European retailers remains unchanged, and we continue to see significant opportunities to further expand the distribution of SmartStore across Europe.
I would like to thank all Orthex employees for their dedication and contribution during the quarter. Our success is built on the commitment, expertise and teamwork of our people across the organisation. Together, we continue to create value for our customers, strengthen our market position and build a strong foundation for sustainable growth.”
Financial releases in 2027
Orthex will publish its financial statements release for 2026 and financial reports in 2027 as follows:
3 March 2027: Financial statements release for 2026
5 May 2027: Interim report January–March 2027
18 August 2027: Half-year financial report January–June 2027
4 November 2027: Interim report January–September 2027
The Annual and Sustainability Report 2026 will be published during the week 11 of 2027 starting on 15 March 2027. The Annual General Meeting is planned to take place on 8 April 2027.
Press conference on financial results:
Orthex’s CEO Alexander Rosenlew, CFO Saara Mäkelä and CMSO Hanna Kukkonen will present the report today in a webcast starting at 11.00 a.m. EET. The webcast can be joined through this link. The webcast presentation will be held in English.
Q&A:
Questions to the management can be sent through the meeting chat.
Presentation material:
The presentation material will be shared in the online meeting, and it can be downloaded in the same day on the corporate website at Reports & presentations - Orthex Group.
Recording of the event:
After the event, a recording will be available on the corporate website at Reports & presentations - Orthex Group.
Further enquiries:
Alexander Rosenlew, CEO, Orthex Corporation
Tel. +358 (0)40 500 3826
alexander.rosenlew@orthexgroup.com
Saara Mäkelä, CFO, Orthex Corporation
Tel. +358 (0)40 083 8782
saara.makela@orthexgroup.com
Distribution:
Nasdaq Helsinki Ltd
Main media
https:/investors.orthexgroup.com/
Orthex in brief
Orthex (ORTHEX, Nasdaq Helsinki, Finland) is a European houseware company offering a broad assortment of safe and durable products with a mission to create long-lasting solutions for an organised and enjoyable home. Orthex main consumer brands are SmartStore™ in storage products, GastroMax™ in kitchenware and Orthex™ in home and garden products.
Orthex aims to be the industry benchmark in sustainability. Orthex’s high-quality products are made for long-term use and are recyclable in all our markets. We are actively increasing the share of recycled and renewable raw materials in our products. At the same time, we continuously strive to reduce our emissions and to minimise our impact on the planet. Read more www.orthexgroup.com.
Orthex’s net sales in 2025 were 87.2 million euros. The company has customers in more than 40 countries and local sales organisations in the Nordics, Germany, France, the UK, and the Benelux.