STOCKHOLM — NGLM Group projects 180 million in total turnover for 2026. This projection follows a period of financial recovery after losses were incurred due to supply chain disruptions stemming from the Russia-Ukraine war.

Prior to the market disruptions, the company had projected $180 million in turnover for 2022. The company's furniture brand, NOGA, recorded a six million euro profit in early 2022 before experiencing a six million euro loss following the start of the Russia-Ukraine war. The company reported a 30 percent decrease in sales following the start of the Russia-Ukraine war in early 2022.

In 2021, the company merged its acquired companies into a single corporate entity. The company had launched Nordiska Galleriet in 2016, later renaming it NOGA for markets outside Sweden. Oak supply chains from Ukraine and Russia experienced delays of six to 12 months after the 2022 invasion; both countries are major suppliers of oak for the European furniture market. Due to these supply chain issues, NOGA canceled hundreds of customer orders.

Axel Söderberg, founder and chief executive of NGLM Group, established the commercial interiors company Yllw in 2022. It provides furniture procurement, project management, and interior services for commercial clients such as hotels, restaurants, and offices. The company achieved profitability in 2022, its first year of operations. Profits from Yllw supported the continued operations of NOGA. It has budgeted 110 million euros in turnover and 10 million euros in profitability for 2026.

No independent assessment was available for this report.