TKM Grupp (TKM1T) investor relations material

Executive summary

• Sales revenue for 2025 was €919.6 million, down 2.6% year-over-year, with Q4 revenue at €239.2 million, a 6.8% decrease from Q4 2024.

• Net profit for 2025 was €17.5 million, a 36.2% decline year-over-year; Q4 net profit was €9.3 million, down 11.3% from Q4 2024.

• All business segments were profitable in Q4, but only the department stores segment posted a slight annual loss.

• The car segment was most affected by the new Estonian motor vehicle tax, with car sales in Estonia dropping 48.6% for the year.

• Cost control and internal efficiency measures helped maintain profitability despite declining sales volumes.

Financial highlights

• EBITDA for 2025 was €77.4 million, down 14.7% year-over-year; Q4 EBITDA was €21.6 million, a 23.3% decrease.

• Operating profit for 2025 was €34.9 million, down 26.6% year-over-year; Q4 operating profit was €11.0 million, down 33.6%.

• Earnings per share for 2025 were €0.43, compared to €0.67 in 2024.

• Gross profit margin for 2025 was 27.69%, up from 27.50% in 2024.

• Total assets at year-end were €698.0 million, a 1.3% decrease from 2024.

Outlook and guidance

• Economic growth in Estonia is expected to accelerate to 3.6% in 2026, with improved consumer purchasing power due to tax changes and lower inflation.

• The car market recovery is uncertain due to ongoing debate about the motor vehicle tax; postponement of purchases may continue in 2026.

• New store openings and expansions are planned for 2026, including a new Selver in Pärnu and Laulasmaa Selver expansion.