Ekspress Grupp (EEG1T) Q2 2025 earnings summary

Executive summary

• Revenue grew 9% year-over-year in Q2 2025 to €21.4m and 7% for the first six months to €38.4m, driven by acquisitions in the conference business and growth in digital subscriptions, ticket sales, and digital outdoor screens.

• Digital subscriptions in the Baltics rose 10% year-over-year to 245,000, with strong growth in Latvia and Lithuania; digital revenue share decreased to 83% due to expansion in non-digital businesses.

• EBITDA declined 7% in Q2 and 12% for the first half, reflecting pressure from a weak advertising market and higher input costs; net profit for Q2 was €1.1m (+6%), but a net loss of €0.5m for the half-year.

• Liquidity remains strong with €7.2m in cash at period end; a dividend of €0.06 per share (€1.86m total) was paid in June 2025.

Financial highlights

• Q2 2025 sales revenue: €21.4m (+9% year-over-year); 6M 2025: €38.4m (+7%).

• Q2 EBITDA: €2.8m (-7%); 6M EBITDA: €3.1m (-12%).

• Q2 net profit: €1.1m (+6%); 6M net loss: €0.5m (vs. €0.2m loss prior year).

• Digital revenue share: 83% (Q2 2025), down from 87% (Q2 2024); on a comparable basis, 90% in Q2 and 88% in 6M 2025.

• Earnings per share: €0.0350 in Q2 (+5%); -€0.0167 for 6M.

Outlook and guidance

• Strategic goal to reach at least 340,000 digital subscribers in the Baltics by end of 2026.

• Focus remains on organic digital growth and further acquisitions to drive business volume and value.

• Management maintains a cautious approach to liquidity and capital allocation, preparing for potential economic cooling.