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Kakel Max (KAKEL) investor relations material
Kakel Max Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales increased by 13% year-over-year to 45,559 tkr in Q2 2025, despite a challenging market.
Net result after tax was -1,384 tkr, a decline from -490 tkr in Q2 2024.
Ongoing investments in stores and systems are expected to position the group for future market recovery.
Market stabilization and positive sales trends are observed in both professional and consumer segments.
Financial highlights
Q2 2025 net sales: 45,559 tkr (Q2 2024: 40,276 tkr); H1 2025: 86,414 tkr (H1 2024: 75,293 tkr).
Q2 2025 net result after tax: -1,384 tkr (Q2 2024: -490 tkr); H1 2025: -1,773 tkr (H1 2024: -385 tkr).
Operating result Q2 2025: -1,165 tkr (Q2 2024: -253 tkr); margin -2.6% (Q2 2024: -0.6%).
Cash flow from operations Q2 2025: 3,548 tkr (Q2 2024: 2,643 tkr).
Net debt at period end: 14,208 tkr (Q2 2024: 7,239 tkr).
Outlook and guidance
Market shows signs of stabilization and potential for growth in the second half of 2025.
Renovation market expected to outperform new construction, benefiting the group.
Anticipation of improved results in H2 2025, supported by higher ROT tax deductions and macroeconomic factors.
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