Haypp Group AB (publ) (HAYPP) Earnings Call Transcripts

Haypp Group AB (publ)'s Latest Earnings Call - Q1 FY2026

Haypp Group AB reported strong Q1 2026 results, with revenue growing 24.3% at constant currency, driven by a 40% increase in nicotine pouch sales. The company's focus on the U.S. and U.K. markets, which showed triple-digit growth, was a key driver. Gross profit increased by 20%, although EBIT margins declined due to increased marketing investments. Management maintained guidance for 2028, targeting revenue growth of 18-25% CAGR from 2024 and a 5.5% adjusted EBIT margin.

Reported metrics

Guidance from management

Haypp maintained its 2028 guidance, targeting revenue growth of 18-25% CAGR from 2024 and a 5.5% adjusted EBIT margin. The company expects continued investment in marketing throughout 2026.

What management said

Yes. So within Dovonex, the excise regarding snus without came through in Q3 2024. So we'd already lapped that by the time we've gotten to Q1 '25 as it came through. And that is part of the overall snus decline rates that we've been experiencing in the past. But what we're dealing with here are the primary driver, of course, there is slower declines in snus, but the primary driver of growth in the core markets is meg...

Yes. So I think you're potentially referring to an article which was released on Reuters a few weeks ago, whereby there was an indication of delay on it. I think that needs to be taken in conjunction with what the FDA have been saying another forum since then, which has been a lot more positive. And I think that may be reflected in what you may see from other of the industries quarterly reports, which came through so...

What analysts pressed on

Analysts questioned the sustainability of growth in core markets and the impact of potential regulatory changes in the U.S. on marketing investments. Concerns were also raised about the average order value decline and its implications.

Main topics on the call

• Nicotine Pouch Growth — Nicotine pouches now account for 70% of Haypp's volume, up from 45% in Q1 2023, with a 40% year-on-year volume growth. Management highlighted the U.S. and U.K. as key growth drivers, both delivering triple-digit growth.
• Revenue and Profitability — Revenue grew 24.3% at constant currency, marking the highest growth rate in six quarters. Gross profit was up 20%, but EBIT margins declined to 2.5% due to increased marketing investments.
• Market Focus: U.S. and U.K. — The U.S. and U.K. markets are prioritized due to low online penetration rates. Haypp is investing heavily in these regions, expecting long-term growth and market share capture.
• Regulatory Environment — The U.K. tobacco and vapes bill is expected to restrict marketing, which could benefit Haypp by reducing marketing costs. The U.S. FDA is anticipated to approve more nicotine products, supporting market growth.

Read the full Haypp Group AB (publ) transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 25 Haypp Group AB (publ) earnings call transcripts on record, spanning November 25, 2021 to May 7, 2026. Based on this history, Haypp Group AB (publ) reports quarterly. The most recent call on file is dated May 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

HAYPP

Exchange

OM

Country

SE

Sector

Consumer Discretionary

Industry

Specialty Retail

Calls on record

25

First call

November 25, 2021

Most recent

May 7, 2026

Reporting cadence

quarterly