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Northbaze Group (NBZ) investor relations material
Northbaze Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 marked a turnaround with all subsidiaries delivering positive EBITDA in September, reflecting successful cost reductions and operational improvements.
Strategic decision made to delist from Nasdaq First North Growth Market to focus on operational efficiency and reduce costs.
Financial highlights
Net sales for Q3 2025 reached 81.7 MSEK, up from 48.5 MSEK in Q3 2024; nine-month sales totaled 229.3 MSEK, up from 131.2 MSEK year-over-year.
EBITDA for Q3 2025 was 4.2 MSEK (2.1 MSEK in Q3 2024); EBIT was 0.1 MSEK (-2.4 MSEK in Q3 2024).
Net result for Q3 2025 was -1.0 MSEK, a significant improvement from -4.1 MSEK in Q3 2024.
Gross margin declined to 24% from 41% in Q3 2024, mainly due to a shift in sales mix toward lower-margin distribution and B2C segments.
Cash flow from operations for Q3 2025 was -3.2 MSEK (4.5 MSEK in Q3 2024), impacted by increased accounts receivable following strong September sales.
Outlook and guidance
Focus remains on sustainable profitability, cost control, and leveraging synergies across Nordic subsidiaries.
No detailed forecasts provided; operations are guided by long-term targets of 20% annual growth, 10% EBITDA margin, and >30% equity ratio.
- Q2 2025 revenue surged, but lower margins and restructuring led to a net loss.NBZ
Q2 2025 - Sales surged after the Enter acquisition, but margins fell; cost savings expected in 2025.NBZ
Q3 2024 - Record sales and improved EBIT in Q2, led by Copter, Adiantes, and Lowwi's strong contributions.NBZ
Q2 2024 - Sales up, margins down; restructuring and cost savings to drive recovery in H2 2025.NBZ
Q1 2025 - Revenue doubled and EBITDA improved, with cost savings and new customers driving 2025 outlook.NBZ
Q4 2024
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