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ITAB’s HMY merger reshapes retail solutions group as profits lag integration costs

Story Highlights
  • ITAB’s acquisition of HMY and complementary tech and design firms has created a larger retail solutions group with broader geographic reach and a stronger offering in self-checkout, smart gates and loss-prevention systems.
  • Despite nearly doubling sales and generating stronger operating cash flow in 2025, ITAB’s profit fell due to integration-related non-recurring costs and higher debt, leading the board to propose skipping a dividend while a new CEO takes over in 2026.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
ITAB’s HMY merger reshapes retail solutions group as profits lag integration costs

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The latest update is out from ITAB Shop Concept AB ( (SE:ITAB) ).

ITAB Shop Concept AB capped an eventful 2025 by completing the acquisition and merger with HMY, creating what it describes as a leading solutions provider for major retail chains while broadening its geographic reach and technological capabilities. The group also strengthened its offering through the full acquisition of retail AI firm Signatrix, the purchase of design agency Blink, and new contracts to supply smart gates, self-checkouts and loss-prevention systems to large grocery and DIY customers in Europe and Australia.

Reported net sales almost doubled to SEK 12.78 billion for the year, with currency-adjusted growth driven largely by HMY and a smaller organic uplift, while pro forma figures for the combined group showed stable sales and margins. Profitability was weighed down by non-recurring items tied to the integration and higher financing, pushing profit after tax sharply lower, but operating cash flow rose 26 percent and reached SEK 785 million, prompting the board to conserve capital by proposing no dividend as the company manages higher net debt and completes its leadership transition to incoming CEO Björn Borgman in 2026.

The most recent analyst rating on (SE:ITAB) stock is a Buy with a SEK30.00 price target. To see the full list of analyst forecasts on ITAB Shop Concept AB stock, see the SE:ITAB Stock Forecast page.

More about ITAB Shop Concept AB

ITAB Shop Concept AB is a Sweden-based provider of retail solutions, focusing on shop concepts, checkouts, self-checkout systems, smart gates and loss-prevention technologies for major grocery, DIY and home improvement chains. Following the acquisition of retail fixture specialist HMY, the group now positions itself as a leading integrated solution provider to large retailers across Europe and other key international markets.

Average Trading Volume: 503,657

Technical Sentiment Signal: Buy

Current Market Cap: SEK4.57B

For a thorough assessment of ITAB stock, go to TipRanks’ Stock Analysis page.

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