Binero Group (BINERO) H1 2025 earnings summary

Executive summary

• Net sales increased to 227.7 MSEK for H1 2025, up from 204.0 MSEK year-over-year.

• EBITDA rose to 11.3 MSEK (6.9 MSEK), while EBIT reached 2.1 MSEK (-0.3 MSEK), including restructuring costs.

• Period result was -13.6 MSEK (12.3 MSEK), impacted by a 12.8 MSEK write-down related to Sky Solutions.

• Annual recurring revenue (ARR) at June 30, 2025, was 315.8 MSEK (291.8 MSEK).

• Acquisition of IT Partner Tromsø AS completed in April, contributing to growth and future margin improvement.

Financial highlights

• Net sales for H1 2025: 227.7 MSEK (204.0 MSEK); total income: 228.9 MSEK (205.3 MSEK).

• EBITDA: 11.3 MSEK (6.9 MSEK); EBITDA margin: 5.0% (3.4%).

• EBIT: 2.1 MSEK (-0.3 MSEK); period result: -13.6 MSEK (12.3 MSEK).

• Cash flow from operations: 2.9 MSEK (2.0 MSEK); cash at period end: 38.2 MSEK (35.8 MSEK).

• Soliditet (equity ratio): 32% (39%).

Outlook and guidance

• New financial targets: 10% annual organic growth, EBITDA margin of 12-14% (pre-acquisition/integration costs), net debt not to exceed 3x EBITDA.

• Continued investment in marketing to drive brand awareness and sales pipeline.

• Focus on both organic growth and acquisitions for expansion.