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DORO
Earnings Release • Aug 15, 2025
3150_ir_2025-08-15_9ff2af8e-b0b5-4caf-9baf-51fa9565d57a.pdf
Earnings Release
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Q2
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| KEY FIGURES | 2025 | 2024 | 2025 | 2024 | 2024 | ||
|---|---|---|---|---|---|---|---|
| SEK million | Quarter 2 Quarter 2 | % | Jan-Jun | Jan-Jun | % | Full year | |
| Net sales | 232.2 | 206.7 | 12.3% | 452.5 | 401.3 | 12.8% | 882.3 |
| Net sales growth, % | 12.3 | 1.8 | 12.8 | -2.4 | -9.4 | ||
| Gross result | 107.8 | 92.2 | 16.9% | 225.3 | 173.9 | 29.6% | 405.3 |
| Gross margin, % | 46.4 | 44.6 | 49.8 | 43.3 | 45.9 | ||
| EBITDA | 15.3 | 20.4 | -25.0% | 31.6 | 32.3 | -2.2% | 121.8 |
| EBITDA margin, % | 6.6 | 9.9 | 7.0 | 8.0 | 13.8 | ||
| EBIT | 9.5 | 12.6 | -24.6% | 13.9 | 15.7 | -11.5% | 86.6 |
| EBIT margin, % | 4.1 | 6.1 | 3.1 | 3.9 | 9.8 | ||
| Earnings per share, SEK | 0.26 | 0.58 | -55.2% | 0.13 | 0.83 -84.3% | 3.53 | |
| Equity/assets ratio, % | 55.5 | 58.1 | 55.5 | 58.1 | 59.4 |
Message from the CEO
Entering a new phase
The second quarter of Doro marked the start of a new chapter for the company. We've ushered in a new era, Doro 4.0, with an unprecedented focus on smartphones and with the launch of connectivity subscriptions, in partnership with Xplora. Soon after the end of the quarter, on July 6th, a change of CEO was announced. Julian Read stepped down and I was appointed interim CEO.
On May 20th we released our new range of smartphones, the Aurora series, to the market. This release was supported by an extensive digital marketing campaign with a different (comic) tone, addressing the main trend within our consumer group: younger relatives passing on their old smartphones to their parents. Aurora series was created to fight this trend – designed for just our target group. The result is a series of phone suitable for anybody with additional needs, let it be physical in terms of audio and vision or technical, in terms of need for simplicity and ease of use. The Aurora smartphones have been well received by our customers and users, and will help us reinforce our presence on the smartphones market as the phones become available in more regions and customers .
On Jun 17th, we celebrated the release of our first connectivity offer Doro Connect, three different subscription models for the Swedish market, available on doro.com. This is the first step in our diversification towards recurring revenue. Along with preparing the launch of connectivity in other markets and through other channels, we are working on developing services relevant to our customer group to broaden our offer, in time, with premium subscriptions.
On the Feature phones side, the sales of our latest series Leva continued to be a success and contributed to the revenue increase of 12.3% this quarter compared to same quarter last year (SEK 232.2M vs 206.7). The shift to 4G technology is happening in several markets and Doro is benefiting from it, holding a very solid position on the 4G Feature phones market. The gross margin in percentage of sales was above last year's. The operating result, however, was lower than same quarter last year (SEK 8.5 million vs 12.6), being affected by the initial investment to set-up connectivity and by reorganisation costs in connection with the discontinuation of the activities of IVS GmbH, one of our German subsidiaries.
This decision is the natural next step in our process of reshaping the Doro presence in Germany. With the transfer of the German fulfilment activities to our main fulfilment centre in Czech Republic, the set-up in the region will be aligned with the rest of the Group. It will complete the concentration of our logistic activities in one place ensuring efficiency and scalability for our supply chain.
In a few words, the second quarter was rich in projects, and we are proud of having landed two significant launches, Aurora and Doro Connect, in a short timeframe. As we continue the journey towards the Doro transformation, we are very much looking forward to the roll-out of the different projects during the rest of the year.
Kjetil Fennefoss, Interim CEO
Central/Eastern Europe
| NET SALES PER MARKET | 20225 | 2024 | 2025 | 2024 | 2024 | ||
|---|---|---|---|---|---|---|---|
| SEK million | Quarter 2 Quarter 2 | ಳಲ್ಲಿ ಇತ್ತಾರೆ. ಇದರ್ | Jan-Jun | Jan-Jun | ్లల్లో | Full year | |
| Nordics | 60.8 | 48.7 | 24.8 | 112.0 | 95.7 | 17.0 | 208.6 |
| West and South Europe and Africa |
73.3 | 87.1 | -15.8 | 162.3 | 167.3 | -3.0 | 352.0 |
| Central and Eastern Europe | 27.7 | 29.8 | -7.0 | 52.6 | 58.8 | -10.5 | 131.5 |
| UK and Ireland | 70.4 | 41.1 | 71.3 | 125.6 | 79.5 | 58.0 | 190.2 |
| Total | 23222 | 206.7 | 12.3 | 452.5 | 401.3 | 12.8 | 882.3 |
At the end of the second quarter, order backlog stood at SEK 102.3 million, an increase of 40.5 percent compared to the same quarter last year.
The gross margin during the second quarter reached 46.4 percent compared to 44.6 percent last year. Main positive deviation came from the inventory. We managed to sell substantial amounts of end-of-life products and could therefore decrease the reserve for stock obsolescence, with a positive effect on margin.
EBIT amounted to SEK 9.5 million (12.6) during the second quarter, corresponding to an EBIT margin of 4.1 percent (6.1). The lower EBIT is the result of extra-ordinary costs reported in the quarter, partly in connection with the set-up of the connectivity business and partly in connection with the restructuring of our German activities.
The net financial items for the period amounted to SEK -1.6 million (2.5). The effective tax rate for the period was 24.9 percent (21.5). The result for the period amounted to SEK 6.3 million (14.2) during the second quarter.
| KEY FIGURES | 2025 | 2024 | 2025 | 2024 | 2024 | ||
|---|---|---|---|---|---|---|---|
| SEK million | Quarter 2 | Quarter 2 | % | Jan-Jun | Jan-Jun | % | Full year |
| Net sales | 232.2 | 206.7 | 12.3% | 452.5 | 401.3 | 12.8% | 882.3 |
| Cost of goods and services sold |
-124.3 | -114.5 | 8.6% | -227.2 | -227.4 | -0.1% | -477.0 |
| Gross profit | 107.8 | 92.2 | 16.9% | 225.3 | 173.9 | 29.6% | 405.3 |
| Gross margin, % | 46.4 | 44.6 | 49.8 | 43.3 | 45.9 | ||
| Other operating expenses | -98.3 | -79.6 | 23.5% | -211.4 | -158.2 | 33.6% | -318.7 |
| Operating profit (EBIT) | 9.5 | 12.6 | -24.6% | 13.9 | 15.7 | -11.5% | 86.6 |
| Operating margin (EBIT margin), % |
4.1 | 6.1 | 3.1 | 3.9 | 9.8 | ||
| Order book | 102.3 | 72.8 | 40.5% | 102.3 | 72.8 | 40.5% | 77.2 |
| Order intake | 241.2 | 217.1 | 11.1% | 477.5 | 432.0 | 10.5% | 917.4 |
| Investment product development |
7.3 | 11.6 | -37.1% | 17.2 | 16.4 | 4.9% | 33.9 |
FINANCIAL DEVELOPMENT
Cash flow, investments, and financial position
Cash flow from operating activities during the second quarter was SEK -19.3 million (44.2). Working capital deteriorated this quarter primarily due to high inventory, following the decision to secure volume of Leva Feature phones and Aurora smartphones for the coming quarters. Free cash flow after investments amounted to SEK -26.7 million (31.7). Investments during the period amounted to SEK 7.4 million (12.5).
Cash and cash equivalents totalled SEK 206.4 million (180.1) at the end of the second quarter. At the same time, the equity ratio was 55.5 percent (58.1)
Net cash amounted to SEK 196.4 million at the end of the second quarter, compared with a net cash of SEK 163.7 million at the end of the second quarter of 2024.
Significant events during the period
· No significant events during the period.
Significant events after the period
· On July 6th, a change of CEO was announced. Julian Read stepped down and Kjetil Fennefoss was appointed interim CEO.
OTHER INFORMATION
Equity and the Doro share
Doro's share is listed on Nasdaq Stockholm, Small Cap, in the segment Telecom/IT. On 30 June 2025, the number of issued shares was 24.532.500, of which Doro AB holds 150.395 Doro shares. Total equity amounted to SEK 548.1 million (490.8).
Employees
On 30 June 2025, Doro had 120 (116) employees, corresponding to 111 (112) full-time equivalents. Of these employees, 70 (66) were based in the Nordic region, 20 (21) in Central and Eastern Europe, 12 (12) in Western and Southern Europe and Africa, 7 (7) in the United Kingdom and Ireland and 11 (10) in the rest of the world.
Risks
The geopolitical situation, with several conflicts on-going, and the changing tariff positions adopted by the United States generate a range of general macroeconomic risks, including inflationary pressures, currency fluctuations, and evolving regulatory frameworks. Cybersecurity threats and potential supply chain disruptions also remain key areas of focus. The company actively monitors these risks and adjusts its strategies accordingly to ensure operational resilience and regulatory compliance.
Other risks are described on pages 33-34 of the Annual Report 2024.
Parent company
The parent company's net sales during the second quarter totalled SEK 224.7 million (198.5). Profit after tax amounted to SEK 11.8 million (10.4).
Accounting principles
This interim report has been prepared for the group in accordance with IAS 34. "Interim Financial Reporting." and for the parent company in accordance with the Swedish Annual Accounts Act and the Swedish Financial Reporting Board's recommendation RFR 2. "Accounting for legal entities." Government assistance received is reported as other income. The accounting principles and calculation methods applied correspond to those that were used to prepare the most recent annual report.
| INCOME STATEMENT | 2025 | 2024 | 2025 | 2024 | 2024 |
|---|---|---|---|---|---|
| SEK million Doro Group | Quarter 2 Quarter 2 | Jan-Jun | Jan-Jun | Full year | |
| Net Sales | 232.2 | 206.7 | 452.5 | 401.3 | 882.3 |
| Cost of goods and services sold | -124.4 | -114.5 | -227.2 | -227.4 | -477.0 |
| Gross profit | 107.8 | 92.2 | 225.3 | 173.9 | 405.3 |
| Selling, distribution and marketing expenses | -61.6 | -50.3 | -126.8 | -97.4 | -193.0 |
| Research and development expenses | -13.7 | -14.3 | -32.2 | -30.0 | -63.9 |
| Administrative expenses | -23.9 | -16.2 | -54.5 | -33.4 | -67.2 |
| Other income and expense | 0.9 | 1.2 | 2.1 | 2.6 | 5.4 |
| Total operating expenses | -98.3 | -79.6 | -211.4 | -158.2 | -318.7 |
| whereof depreciation and amortization of intangible and tangible fixed assets |
-5.8 | -7.8 | -17.7 | -16.6 | -35.2 |
| Operating profit/loss before depreciation and amortization (EBITDA) |
15.3 | 20.4 | 31.6 | 32.2 | 121.8 |
| Operating profit/loss after depreciation and amortization (EBIT) |
9.5 | 12.6 | 13.9 | 15.7 | 86.6 |
| Net financial items | -1.6 | 2.5 | -10.0 | 6.7 | 15.7 |
| Profit/loss before taxes | 7.9 | 15.1 | 3.9 | 22.4 | 102.3 |
| Taxes | -1.6 | -0.9 | -0.8 | -2.1 | -16.2 |
| Profit/loss for the period | 6.3 | 14.2 | 3.1 | 20.3 | 86.1 |
| Average number of shares, thousands | 24 382 | 24 351 | 24 382 | 24 339 | 24 361 |
| Average number of shares after dilution, thousands * |
24 382 | 24 351 | 24 382 | 24 339 | 24 361 |
| Earnings per share, SEK | 0.26 | 0.58 | 0.13 | 0.83 | 3.53 |
| Earnings per share after dilution, SEK* | 0.26 | 0.58 | 0.13 | 0.83 | 3.53 |
| STATEMENT OF COMPREHENSIVE INCOME | 2025 | 2024 | 20725 | 2024 | 2024 |
|---|---|---|---|---|---|
| SEK million Doro Group | Quarter 2 Quarter 2 | Jan-Jun | Jan-Jun | Full year | |
| Profit/loss for the period | 6.3 | 14.2 | 3.1 | 20.3 | 86.1 |
| Other comprehensive income to be reclassified to profit or loss in subsequent periods: |
|||||
| Translation differences | 1.2 | -1.3 | -13.4 | 7.4 | 12.4 |
| Effects from cash flow hedges | -0.6 | 1.3 | -3.5 | 2.1 | 1.8 |
| Tax on items that may be reclassified to profit or loss |
0.1 | -0.2 | 0.7 | -0.4 | -0.4 |
| Other comprehensive income, total | 0.7 | -0.2 | -16.2 | 9.1 | 13.8 |
| Other comprehensive income related to Parent company's shareholders |
7.0 | 14.0 | -13.1 | 29.4 | 99.9 |
| STATEMENT OF FINANCIAL POSITION | 2025 | 2024 | 2024 | ||
| SEK million Doro Group | 30 Jun | 30 Jun | 31 Dec | ||
| Non-current assets | |||||
| Intangible assets* | 279.7 | 275.9 | 281.1 | ||
| Property, plant and equipment | 11.9 | 17.6 | 14.9 | ||
| Financial assets | 45.0 | 35.7 | 43.8 | ||
| Deferred tax asset | 11.8 | 13.3 | 11.5 | ||
| Current assets | |||||
| Inventories | 239.8 | 159.1 | 165.6 | ||
| Current receivables | 193.6 | 163.0 | 168.7 | ||
| Cash and cash equivalents | 206.4 | 180.1 | 260.5 | ||
| Total assets | 988.2 | 844.7 | 946.1 | ||
| Shareholders' equity attributable to Parent company's shareholders | 548.1 | 490.8 | 561.7 | ||
| Long term liabilities, interests-bearing | 8.3 | 12.2 | 10.6 | ||
| Long term liabilities, non-interests bearing | 33.8 | 44.2 | 48.2 | ||
| Current liabilities, interests-bearing | 5.0 | 7.4 | 6.4 | ||
| Current liabilities, non-interests bearing | 393.0 | 290.1 | 319.2 | ||
| Total shareholders' equity and liabilities | 988.2 | 844.7 | 946.1 | ||
| Financial instruments recognized at fair value in the Balance Sheet | 2025 | 2024 | 2024 | ||
| SEK million Doro Group | 30 Jun | 30 Jun | 31 Dec | ||
| Exchange rate contracts recorded as current liability | 8.8 | 1.2 | 0.8 | ||
| Exchange rate contracts recorded as current receivable | 0.4 | 1.9 | 3.9 | ||
| Hybrid loan | 44.4 | 34.9 | 43.2 |
| STATEMENT CASH FLOWS | 2025 | 2024 | 2025 | 2024 | 2024 |
|---|---|---|---|---|---|
| SEK million Doro Group | Quarter 2 Quarter 2 | Jan-Jun | Jan-Jun | Full year | |
| FRIT | 9.5 | 12.6 | 13.9 | 15.7 | 86.6 |
| Depreciation according to plan | 5.8 | 7.8 | 17.7 | 16.6 | 35.2 |
| Net paid financial items | 0.9 | 1.3 | 2.0 | 2.8 | 5.2 |
| Unrealized exchange rate differences in cash flow hedges |
5.2 | -0.1 | 8.0 | -0.6 | -3.3 |
| Income tax paid | -4.5 | -2.3 | -15.2 | -10.8 | -18.8 |
| Change in working capital (incl changes in provision) |
-36.2 | 24.9 | -49.3 | 25.1 | 42.5 |
| Cash flow from current activities | -19.3 | 44.2 | -22.9 | 48.8 | 147.4 |
| Investments in intangible and tangible assets | -7.4 | -12.5 | -18.8 | -17.3 | -35.1 |
| Free cash flow before acquisitions | -26.7 | 31.7 | -41.7 | 31.5 | 112.3 |
| Cash flow from investing activities | -7.4 | -12.5 | -18.8 | -17.3 | -35.1 |
| Amortization of debt | -1.8 | -1.9 | -3.7 | -3.6 | -7.4 |
| Dividends paid | 0.0 | -48.7 | 0.0 | -48.7 | -48.7 |
| Sale/repurchase of own shares | 0.0 | -1.1 | 0.0 | 1.1 | 1.1 |
| Cash flow from financing activities | -1.8 | -49.5 | -3.7 | -51.2 | -55.0 |
| Exchange rate diff in cash and cash equivalents | 4.2 | -2.6 | -8.7 | 5.5 | 8.9 |
| Change in liquid funds | -24 3 | -20.4 | -54.1 | -14.2 | 66.2 |
| Net cash | 196.4 | 163.7 | 196.4 | 163.7 | 246.9 |
| Net debt |
| STATEMENT OF CHANGES IN EQUITY | 2025 | 2024 | 2024 |
|---|---|---|---|
| SEK million Doro Group | 30 Jun | 30 Jun | 31-Dec |
| Opening balance | 561.7 | 508.9 | 508.9 |
| Total Comprehensive income related to Parent company's shareholders |
-13.1 | 29.4 | dd g |
| Dividends to shareholders | 0.0 | -48.7 | -48.7 |
| Long-term variable compensation plans | -0.5 | 0.1 | 0.5 |
| Sale/Repurchase of own shares | 0.0 | 1.1 | 1.1 |
| Closing balance | 548.1 | 490.8 | 561.7 |
| OTHER KEY FIGURES | 2025 | 2024 | 2024 |
|---|---|---|---|
| SEK million Doro Group | 30 Jun | 30 Jun | 31-Dec |
| EBITDA | 31.6 | 32.3 | 121.8 |
| Equity/assets ratio, % | 55.5 | 58.1 | 59.4 |
| Number of shares at the end of the period, thousands | 24 382 | 24 382 | 24 382 |
| Number of shares at the end of the period after dilution, thousands* |
24 382 | 24 382 | 24 382 |
| Equity per share, SEK | 22.48 | 20.13 | 23.04 |
| Equity per share, after dilution SEK* | 22.48 | 20.13 | 23.04 |
| Return on average shareholders' equity, % | 12.6 | 9.7 | 15.9 |
| Return on average capital employed, % | 26.0 | 22.4 | 26.4 |
| Share price at period's end, SEK | 40.60 | 21.20 | 33.9 |
| Market value, SEKm | 989.9 | 516.9 | 826.5 |
| *The effect of dilution is considered only when the effect on earnings per share is negative. |
| INCOME STATEMENT | 2025 | 2024 | 2025 | 2024 | 2024 |
|---|---|---|---|---|---|
| SEK million Parent company | Quarter 2 | Quarter 2 | Jan-Jun | Jan-Jun | Full year |
| Net Sales | 224.7 | 198.5 | 436.9 | 380.0 | 838.1 |
| Cost of goods and services sold | -123.1 | -107.0 | -220.3 | -212.7 | -447.6 |
| Gross profit | 101.6 | 91.5 | 216.6 | 167.3 | 390.5 |
| Operating expenses | -91.1 | -86.8 | -207.5 | -164.3 | -330.0 |
| Operating profit/loss (EBIT) | 10.5 | 4.7 | 9.1 | 3.0 | 60.5 |
| Net financial items | 3.3 | 7.2 | -5.6 | 15.8 | 23.3 |
| Profit/loss after financial items | 13.8 | 11.9 | 3.5 | 18.8 | 83.8 |
| Taxes | -2.0 | -1.5 | 0.6 | -1.4 | -13.0 |
| Profit/loss for the period | 11.8 | 10.4 | 4.1 | 17.5 | 70.8 |
| STATEMENT OF COMPREHENSIVE INCOME | 2025 | 2024 | 2025 | 2024 | 2024 |
| SEK million Parent company | Quarter 2 | Quarter 2 | Jan-Jun | Jan-Jun | Full year |
| Profit/loss for the period | 11.8 | 10.4 | 4.1 | 17.5 | 70.8 |
| Other comprehensive income to be reclassified | |||||
| to profit or loss in subsequent periods: | |||||
| Effects from cash flow hedges | -0.6 | 1.3 | -3.5 | 2.1 | 1.8 |
| Tax on items that maybe reclassified to profit or | 0.1 | -0.2 | 0.7 | -0.4 | -0.4 |
| oss | |||||
| Total Result related to Parent company's | 11.3 | 11.5 | 1.3 | 19.2 | 72.2 |
| shareholders | |||||
| STATEMENT OF FINANCIAL POSITION | 2025 | 2024 | 2024 | ||
| SEK million Parent company | 30 Jun | 30 Jun | 31 Dec | ||
| Non-current assets | |||||
| Intangible assets | 48.3 | 41.2 | 44.1 | ||
| Property, plant and equipment | 0.8 | 0.8 | 0.8 | ||
| Financial assets | 121.4 | 109.9 | 117.8 | ||
| Current assets | |||||
| Inventories | 231.3 | 146.1 | 157.3 | ||
| Current receivables | 338.2 | 320.8 | 330.7 | ||
| Cash and cash equivalents | 180.6 | 168.0 | 233.8 | ||
| Total assets | 920.6 | 786.8 | 884.5 | ||
| Shareholders' equity attributable to Parent company's shareholders | 290.7 | 236.5 | 289.9 | ||
| Provisions | 54.2 | 70.2 | 73.3 | ||
| Long-term liabilities | 0.0 | 0.0 | 0.0 | ||
| Current liabilities | 575.7 | 480.1 | 521.3 | ||
| Total shareholders' equity and liabilities | 920.6 | 786.8 | 884.5 |
| Breakdown of operating expenses | 2025 | 2024 | 2025 | 2024 | 2024 |
|---|---|---|---|---|---|
| SEK million Doro Group | Quarter 2 | Quarter 2 | Jan-Jun | Jan-Jun | Full year |
| Personnel expenses | 41.8* | 34.3 | 76.7 | 70.5 | 136.9 |
| Marketing expenses | 20.9 | 11.5 | 41.9 | 20.1 | 40.7 |
| Other operating expenses | 29.8** | 26.0 | 75.1 | 51.0 | 105.9 |
| Total | 92.5 | 71.8 | 193.7 | 141.6 | 283.5 |
| Depreciation | 5.8 | 7.8 | 17.7 | 16.6 | 35.2 |
| Total operating expenses incl depr | 98.3 | 79.6 | 211.4 | 158.2 | 318.7 |
*
FINANCIAL DEFINITIONS
| Average number of shares after | Average number of shares adjusted with the dilution effect | |
|---|---|---|
| dilution | from warrants is calculated as the difference between the | |
| assumed number of shares issued at the exercise price and | ||
| the assumed number of shares issued at average market price | ||
| for the period. | ||
| Earnings per share | Profit/loss after financial items minus tax divided by average | |
| number of shares for the period. | ||
| Earnings per share, after dilution | Profit/loss after financial items minus tax divided by the | |
| average number of shares for the period after dilution. | ||
| Number of shares at the end of the | The number of shares at the end of the period adjusted with | |
| period, after dilution | the dilution effect from warrants is calculated as the | |
| difference between assumed number of shares issued at the | ||
| exercise price and the assumed number of shares issued at | ||
| the closing market price at the end of the period. | ||
| Equity per share | Shareholders' equity at the end of the period divided by the | |
| number of shares at the end of the period. | ||
| Equity per share, after dilution | Shareholders' equity at the end of the period divided by the | |
| number of shares at the end of the period, after dilution. | ||
| Net Debt/Net Cash | Cash and bank balances reduced with interest-bearing | |
| liabilities. | ||
| Market value, SEK m | Share price at period's end times the number of shares at the | |
| end of the period. |
Use of non-IFRS performance measures
Guidelines on Alternative Performance Measures (APMs) for companies with securities listed on a regulated market within the European Union have been issued by ESMA (the European Securities and Markets Authority). These guidelines apply to APMs disclosed when publishing regulated information on or after July 3, 2016. Reference is made in the interim report to a number of non-IFRS performance measures that are used to help investors as well as management analyse the company's operations. Described below are the non-IFRS performance measures that are used as a complement to the financial information that is reported in accordance with IFRS.
| Non-IFRS performance measure |
Description | Reason for use of the measure |
|---|---|---|
| Gross Margin % | Net Sales minus Cost of goods and services sold in percentage of Net Sales. |
Gross Margin is an important measure for showing the margin before Other operating expenses. |
| Sales growth comparable entities % |
Net Sales for the period minus Net Sales for entities acquired during the year minus Net Sales for the corresponding period last year in percentage of Net Sales for the corresponding period last year. |
Sales growth for comparable entities shows the Group's organic growth excluding acquired businesses. |
Description of financial performance measures that are not used in IFRS
| Currency adjusted Sales growth % |
Net Sales for the period minus Net Sales for the corresponding period last year recalculated using this year's currency exchange rates in percentage of Net Sales for the corresponding period last year recalculated using this year's currency exchange rates. |
The measure shows the Sales growth excluding the effect of changes in currency exchange rates between the years. |
|---|---|---|
| Equity/assets ratio | Equity expressed as a percentage of total assets. |
A traditional measure for showing financial risk, expressing the amount of restricted equity which is financed by the owners. |
| Return on average shareholders' equity |
Profit/Loss rolling twelve months after financial items and tax divided by average shareholders' equity. |
Shows from a shareholder perspective the return that is generated on the owners' capital that is invested in the company. |
| Capital employed | Total assets reduced with non- interest-bearing debt and cash and bank balances. |
This measure shows the amount of total capital that is used in the operations and is thus one component for measuring the return from operations. |
| Return on average capital employed |
Operating profit/loss rolling twelve months, divided by the quarterly average capital employed excluding cash and bank balances. |
This is the central ratio for measuring the return on the capital tied up in operations. |
| 2025 | 2024 | 2025 | 2024 | |
|---|---|---|---|---|
| Quarter 2 | Quarter 2 | 30 Jun | 30 Jun | |
| Currency adjusted sales growth (MSEK) | ||||
| Currency adjusted sales growth | 38.2 | 0.1 | ||
| Currency effect | -12.7 | 3.6 | ||
| Reported sales growth | 25.5 | 3.7 | ||
| Capital employed | ||||
| Total assets | 988.2 | 844.7 | ||
| Non-interest-bearing liabilities | 426.8 | 334.3 | ||
| Cash and bank | 206.4 | 180.1 | ||
| Reported capital employed | 355.0 | 330.3 |
CONFIRMATION BY THE BOARD
The board and CEO affirm that this Interim Report provides an accurate overview of the operations, position and earnings of the company and that it also describes the principal risks and uncertainty factors faced by the company and its subsidiaries.
This report has not been reviewed by the Company's auditors.
Malmö, 15 August 2025
Svenn Jarle Simonsen Chairman of the board Merete Haugli Board member Finn Olav R Elde Board member
Fredrik Löthgren Board member
Kjetil Fennefoss Interim CEO
REPORT DATES
Q2 report January-June 2025 Q3 report January-September 2025
15 August 2025
CONTACT
For further information. please contact: Kjetil Fennefoss, Interim CEO E-post: [email protected]
