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Unlimited Travel Group UTG (UTG) investor relations material
Unlimited Travel Group UTG Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Revenue for Q3 2025 increased by 13.3% year-over-year to SEK 212.7 million, driven by strong performance in Event and Individual Business Travel segments.
Gross margin improved to 25.5% (22.3%), supported by price adjustments, strengthened pricing models, and a stronger SEK.
The acquisition of NEX Travel was completed on September 1, 2025, consolidating its results and strengthening the business travel offering.
Booking levels as of September 30, 2025, were 11% higher than the previous year, excluding NEX Travel.
Investments in sales organization and regional expansion, especially in West Sweden, are expected to yield full results from next year.
Financial highlights
Q3 2025 revenue: SEK 212.7m (SEK 188.0m in Q3 2024); organic growth 12.5%.
Gross margin: 25.5% (22.3%); adjusted for unrealized currency effects: 26.2%.
EBITA: SEK 7.6m (SEK 7.0m); organic EBITA decreased 28.3% to SEK 5.0m due to higher personnel costs.
EPS: SEK 0.57 (SEK 0.48) for the quarter.
Cash flow from operations for Jan–Sep: SEK 70.5m.
Outlook and guidance
Booking levels for 2025 are up 11% year-over-year, indicating continued strong demand.
The company aims to surpass SEK 1 billion in revenue in 2026, supported by organic growth and acquisitions.
Two new letters of intent signed post-period for acquisitions in Event and Active Travel, expected to close in Q4.
Sales investments: expected ROI timeline?
Impact of 8.5% solidity on operations?
NEX Travel: key synergies for 2026 revenue?
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Next Unlimited Travel Group UTG earnings date
Q4 20252 Feb, 2026
Next Unlimited Travel Group UTG earnings date
Q4 20252 Feb, 2026
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Frequently asked questions
Unlimited Travel Group UTG AB is a Sweden-based company engaged in the travel industry. The company focuses on owning, developing, and acquiring small to medium-sized travel companies. It operates in two main segments: group, conference, and business travel, and private travel. The company's portfolio includes various specialized travel agencies such as JB Travel for group and business travel, Eventyr for travel events, Ski Unlimited for alpine trips, Birdie Golf Tours for golf travel, and several others catering to niche markets like polar expeditions and volunteer travel. The company is headquartered in Stockholm, Sweden, and its shares are listed on the Nasdaq Stockholm.
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