Notes for P&L
Not 13 Leases
The Group’s lease portfolio primarily consists of leases of premises, as well as a limited number of leases of vehicles and forklifts. Leases of premises generally have lease terms of between 3 and 9 years, while leases of vehicles and forklifts generally have lease terms of between 3 and 5 years.
Most of the Group’s lease contracts include options to extend or terminate the lease early. These options provide the Group with flexibility in managing its lease portfolio and adapting it to its operational needs. Where the Group is reasonably certain to exercise such options, this is reflected in the measurement of the lease liability and the right-of-use asset.
Right-of-use assets
Depreciation is calculated as follows: |
Number of years |
| Right-of-use assets for premises | 3 – 9 years |
| Right-of-use assets for vehicles | 3 – 5 years |
| Right-of-use assets for forklifts | 3 – 5 years |
| Acquisition cost | Premises | Vehicles and forklifts | Total |
|---|---|---|---|
| 2024-01-01 | 58,849 | 4,512 | 63,361 |
| New contracts entered into | 974 | 1,068 | 2,042 |
| Exchange rate difference | -12 | - | -12 |
| Remeasurements of contracts | 15,887 | - | 15,887 |
| Terminated contracts | - | -1,021 | -1,021 |
| 2024-12-31 | 75,698 | 4,559 | 80,257 |
| New contracts entered into | 106,076 | 10,799 | 116,875 |
| Exchange rate difference | -17 | - | -17 |
| Remeasurements of contracts | -362 | - | -362 |
| Terminated contracts | -53,984 | -3,482 | -57,465 |
| 2025-12-31 | 127,411 | 11,876 | 139,287 |
| Accumulated depreciation | Premises | Vehicles and forklifts | Total |
| 2024-01-01 | -38,215 | -3,019 | -41,235 |
| Depreciation for the period | -11,185 | -1,336 | -12,521 |
| Terminated contracts | 1,021 | 1,021 | |
| 2024-12-31 | -49,400 | -3,334 | -52,734 |
| Depreciation for the period | -17,200 | -1,735 | -18,935 |
| Exchange rate difference | -41 | - | -41 |
| Terminated contracts | 53,984 | 3,482 | 57,465 |
| 2025-12-31 | -12,658 | -1,588 | -14,245 |
| Closing carrying amount | |||
| 2024-12-31 | 26,298 | 1,225 | 27,522 |
| 2025-12-31 | 114,753 | 10,288 | 125,042 |
| Lease liability | Premises | Vehicles and forklifts | Total |
| 2024-01-01 | 21,806 | 1,314 | 23,120 |
| New contracts entered into | 974 | 1,068 | 2,042 |
| Exchange rate difference | -12 | - | -12 |
| Remeasurements of contracts | 15,887 | - | 15,887 |
| Terminated contracts | - | - | - |
| Interest expense on lease agreements | -549 | -26 | -575 |
| Lease payments | -11,020 | -1,311 | -12,331 |
| 2024-12-31 | 26,617 | 1,514 | 28,131 |
| New contracts entered into | 106,076 | 10,799 | 116,875 |
| Exchange rate difference | -58 | - | -58 |
| Remeasurements of contracts | -362 | - | -362 |
| Terminated contracts | - | - | - |
| Interest expense on lease agreements | -3,994 | -302 | -4,296 |
| Lease payments | -8,856 | -1,781 | -10,637 |
| 2025-12-31 | 119,423 | 10,230 | 129,653 |
The table below presents the amounts that have been reported as lease liabilities in the Group's balance sheet.
| 2025-12-31 | 2024-12-31 | |
|---|---|---|
| Non-current lease liabilities | 114,871 | 17,031 |
| Current lease liabilities | 14,782 | 11,101 |
| Total lease liability | 129,653 | 28,131 |
Maturity analysis of contractual undiscounted payments of lease liabilities
| 2025-12-31 | 2024-12-31 | |
|---|---|---|
| Cash flows within one year | 25,134 | 11,715 |
| Cash flows within 2–5 years | 78,930 | 18,647 |
| Cash flows after five years | 55,650 | - |
| Total | 159,715 | 30,363 |
Lease-related expenses
The table below presents amounts relating to leases recognised in the Group’s income statement for the year.
| Expenses | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Depreciation of right-of-use assets | 18,935 | 12,521 |
| Interest expense on lease liabilities | 4,296 | 575 |
| Total | 23,231 | 13,096 |
| The Group’s total cash outflow for lease agreements amounted to: | 14,933 | 12,905 |
In September 2023, Rugvista entered into an agreement to extend the lease term and terminate the lease for the property at Ringugnsgatan 11 in Limhamn. The lease was terminated on 30 September 2025. In connection with the termination, the related right-of-use asset and lease liability were derecognised in accordance with IFRS 16.
The lease for an additional storage facility of 1,700 m² in Limhamn, which was entered into in November 2023 and extended until May 2025, was terminated during the year. This lease was also terminated in accordance with IFRS 16, and the related right-of-use asset and lease liability were derecognised.
The nine-year lease with Catena for office and logistics premises in Malmö’s Mellersta Hamnen area was assumed during the summer of 2025. From the commencement date, the right-of-use asset and lease liability have been recognised in the Group’s financial statements in accordance with IFRS 16.
Rugvista GmbH’s previous lease in Berlin was terminated in 2025, and the related right-of-use asset and lease liability were derecognised. In November 2025, Rugvista GmbH entered into a new lease for premises in Berlin. From the commencement date, the right-of-use asset and lease liability have been recognised in accordance with IFRS 16.
The Group’s two leases for warehouse premises in Frihamnen, Malmö, continue unchanged until the third quarter of 2028 and are recognised in accordance with IFRS 16.