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ITAB Shop Concept (ITAB) investor relations material
ITAB Shop Concept Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong profit development in Q3 2025, driven by integration synergies from the HMY acquisition, increased sales of technical solutions, and a clear plan for future growth, despite cautious demand in some markets.
Leadership transition announced: Andréas Elgaard to step down as CEO in January, with Glauco Frascaroli as interim and Björn Borgman joining as new CEO in May 2026.
Year-to-date net sales reached 9,847 MSEK and adjusted EBIT was 648 MSEK.
HMY acquisition completed on 31 January 2025, consolidated from February, significantly expanding the group’s scale and customer base.
Financial highlights
Q3 2025 net sales were 3,297 MSEK, a 2% decrease year-over-year but a 4% increase currency-adjusted; organic growth was 8% and HMY contributed 107%.
Adjusted EBIT for Q3 was 260 MSEK, up 13% year-over-year, with a margin of 7.9%.
Adjusted EBITDA for Q3 was 369 MSEK, up 7% year-over-year, with a margin of 11.2%.
Operating cash flow for Q3 was MSEK -9, with rolling 12 months at MSEK 287, impacted by higher net working capital and accounts receivable.
Profit after tax for Q3 was MSEK 99, and EPS before/after dilution was SEK 0.36.
Outlook and guidance
Full synergy effect from HMY acquisition expected by late 2027, targeting MEUR 30 in annual synergies, with most realized in 2026–2027.
Estimated EBIT growth of 149% and EPS growth of 58% by 2027 with full synergy realization.
Non-recurring integration costs of approximately MEUR 21 expected over three years, with about half incurred to date.
Net working capital and cash flow expected to normalize in Q4 barring major rollouts.
Tax efficiency to improve gradually as integration and debt structuring progress.
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