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Investor Relations14 Oct 2025
Boost Your Earnings Season Strategy With Real‑Time Alerts
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Pierce Group (PIERCE) investor relations material
Pierce Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary22 Aug, 2025
Executive summary
Achieved record Q2 2025 sales with net revenue of SEK 523 million, up 15% year-over-year (20% in local currency), driven by improved product availability and strong external brand sales.
Adjusted EBIT rose to SEK 32 million (6.2% margin), up from SEK 17 million (3.7%) last year, despite SEK 8 million in transformation costs and SEK 2 million in trademark amortization.
Gross margin slightly decreased to 43.7% due to obsolescence and higher external brand share, but variable costs declined.
Customer satisfaction and retention improved, with Trustpilot and Net Promoter Scores trending upward; active customer base and order volume increased.
Operational efficiency improved, with a 30% reduction in white-collar workforce since Q2 2023 and a 70% increase in sales per FTE.
Financial highlights
Q2 2025 net revenue: SEK 523 million (+15% YoY); gross profit: SEK 229 million; adjusted EBIT: SEK 32 million; adjusted EBITDA: SEK 46 million (margin 8.7%).
Gross margin: 43.7% (down from 44.1% last year); adjusted EBIT margin: 6.2% (up from 3.7%).
Cash position at quarter-end: SEK 188 million, down from SEK 350 million a year ago, reflecting inventory investments; positive cash flow of SEK 13 million for the period.
Inventory increased to SEK 522 million, supporting growth and customer satisfaction.
Net working capital at period end: SEK 210 million (12.1% of LTM revenue).
Outlook and guidance
Transformation costs from SaaS system rollout will taper off by Q2 2026, with full tech stack deployment expected by then and improved annualized EBIT by SEK 30–40 million.
Geographic expansion planned, with 12 new localized websites to be launched, targeting underpenetrated markets and adjacent verticals.
Focus remains on absolute gross profit growth, even if margin percentage is pressured by mix shift; private label expansion emphasized.
Medium to long-term targets: organic growth above the European online market, adjusted EBIT margin of 5–8%, and net debt/EBITDA ≤2.0x.
Quantify EBIT impact from tech stack completion
Inventory increase impact on cash flow & strategy
Growth strategy for 12 new local markets
Breakdown of SEK 30-40M EBIT improvement?
Mitigation for rising obsolescence risk?
Timeline and investment for new markets/verticals?
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Next Pierce Group earnings date
Q3 202514 Nov, 2025
Next Pierce Group earnings date
Q3 202514 Nov, 2025
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Frequently asked questions
Pierce Group AB engages in the sale of gears, parts, accessories and streetwear to riders through online stores in Sweden, other Nordic regions and internationally. The company also owns retailers for motorcycles, scooters and snowmobiles. It operates under the following brands: MotoAction.se, Bikester SE, OutNorth SE, Skoterdelen SE and MCdelen SE. The company was founded by Daniel Workén in 2002 and is headquartered in Malmo, Sweden.
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