There was a dramatic profit decline for Systembolaget in 2025. Operating profit for the full year was 30 million SEK, compared to 338 million SEK in 2024 (-91.1%), net profits 24 MSEK (92.7%).
Sales, however, were almost unchanged at 39,046 million SEK (-0.9%). Systembolaget explains the meagre result with increased salary and development costs as well as a capital gain that came in 2024 (which was a modest 64 MSEK; gross profits in 2023 was 418 MSEK).
(For comparison, in 2024, the remuneration of the seven in the management team plus the board was SEK 44.2 million, of which 11.8 MSEK to the CEO.)
CEO Ann Carlsson Meyer emphasizes the changed purchasing pattern:
“More and more people are choosing beer and drinks with lower alcohol content. We also see a lower sales volume during the (fourth) quarter, a development that is in line with the long-term decrease in alcohol consumption in Sweden.”
Carlsson Meyer also comments on one of the major events during the year: “In June 2025, farm sales were introduced in the form of limited direct sales from smaller producers, such as distilleries and wineries. Systembolaget’s mission and work are not affected by farm sales,” which may seem a strange comment considering how Systembolaget opposed farm sales before their introduction.
She comments on the fall in profits with “This is mainly explained by a changed sales pattern with lower volumes and an increased proportion of drinks with lower alcohol content, which results in lower gross profit. Sales volume fell, -1.7%, but “was met by a positive price development of 1.2%” (a higher average price?). In February, the company gave notice to 25 employees.
Change in turnover by category:
- Spirits -1.6%,
- wine -1.5%,
- strong beer +0.2%,
- cider & mixed drinks +6.6%,
- non-alcoholic (in competition with normal non-monopoly retail) +6.6%,
- other goods and services (i.e. not drinks) -4.1%.
The product categories’ share of total turnover:
- spirits 20.2% (a decrease; -0.2 percentage points),
- wine 49.8% (-0.3),
- strong beer 25.2% (+0.3),
- cider & mixed drinks 3.5% (+0.2),
- non-alcoholic 0.7% (0),
- other 0.5% (-0.1).
As expressed in sales volumes:
- spirits -2%,
- wine -3.7%,
- strong beer -0.7%,
- cider & mixed drinks +1.7%,
- non-alcoholic +6.2%.
Perhaps I should add that Systembolaget is an incorporated company (AB) owned by the state, not a government agency.
Read more at Cision.
