Transcript

Frida Leim — Head of Investor Relations

Welcome everyone to Synsam Group's Q&A session. Synsam released the interim report for its second quarter 2026 this morning. My name is Frida Leim and I am Head of Investor Relations at Synsam Group and the moderator of this Q&A. I am joined by our CFO, Per Hedblom, and our CCO, Jimmy Engström in the studio. If you are watching the webcast live, you can submit your question using a question box on the webcast page. We have our analyst from Citi joining us. I would like to welcome and hand over to Giang Nguyen.

Giang Nguyen — Analyst

Thank you, Frida. Good morning, everyone. Thank you for having me on again. You know how I always like to start my question list. My first question is if you have any comments on the broad consumer sentiment or the purchasing behavior through the course of Q2, and specifically it would be helpful if you could compare it to what we saw in Q1, please.

Per Hedblom — CFO

If we compare to previous quarter, we see somewhat more positive consumer sentiment across all markets really.

Giang Nguyen — Analyst

Would you say that this improvement has continued into the early part of Q3?

Per Hedblom — CFO

We see general improvement from Q2 and onwards, yes.

Giang Nguyen — Analyst

That's helpful. Since we're now right towards the end of the summer, but we have had a very warm summer here in Europe. Could you talk about what potential impact we could expect in terms of the sales of sunglass in the quarter?

Per Hedblom — CFO

The sunglass season has been, as you say, also relatively warm and hot in Sweden, and we have seen a good development also in that category.

Giang Nguyen — Analyst

I want to then ask specifically about Denmark. I read in the press release that you called out 390 basis points of contribution to organic growth from changes to the handling of returns. Maybe can you give us a little bit more details around the changes and what kind of positive impact do you expect in the coming quarters?

Per Hedblom — CFO

I think we described that quite extensively in Q1, but it's a technical change in how we account for lifestyle when customers hand in their spectacles, which technically improves sales and reduces gross margin basically, and we are quite open with that in the report. That effect came in Q1 and will continue every quarter during 2026. Of course, continue