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BTS Group (BTS) investor relations material
BTS Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 EBITDA and EBITA dropped 23% year-over-year, mainly due to BTS North America's underperformance from inefficient sales, unfavorable USD exchange rates, and one-time severance and legal costs.
Net sales for Q2 2025 were MSEK 721, with 7% currency-adjusted growth and 2% organic growth; profit after tax fell 35% to MSEK 39.
BTS Europe and Other Markets achieved double-digit revenue growth, with Europe up 31% and Other Markets up 19% year-over-year.
A reorganization in North America introduced new management and a growth strategy, aiming for recovery in 2026.
Executive coaching and AI-related services showed strong momentum, with coaching profit up 34% and AI bookings up 425%.
Financial highlights
EBITDA/EBITA dropped 23% in Q2 2025, with North America as the main driver of the decline.
BTS Europe posted 31% revenue growth and margin improvement from 11.3% to 14.4% in Q2.
BTS Other Markets achieved 19% revenue growth, with strong demand in most regions.
Executive coaching business profit grew 34% in Q2, with high renewal and win rates.
AI-related adoption services revenue grew 425% year-over-year, with $8 million in bookings and $3 million in AI platform subscription bookings.
Outlook and guidance
EBITA for 2025 is expected to be worse than in 2024, with North America expected to return to growth in 2026 as new leadership and strategy take effect.
Adjusted EBITDA for H1 2025, excluding one-offs, is slightly lower than H1 2024.
Most cost savings from the $5 million program will be realized in Q3 and Q4, with full impact in 2026.
Europe is expected to maintain double-digit growth for the year, though at a slower pace in H2.
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