Bredband2 i Skandinavien (BRE2) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 reached SEK 456.2 million, up 10.1% year-over-year, driven by strong private customer intake and record sales on the business side.

• EBIT was SEK 32.0 million, down from SEK 35.0 million in Q1 2024, reflecting increased investments in marketing and sales.

• EBITDA amounted to SEK 66.7 million, compared to SEK 70.5 million the previous year.

• Net income was SEK 24.5 million, nearly unchanged from SEK 24.7 million in Q1 2024; EPS remained at SEK 0.026.

• Customer base grew to approximately 519,400, not including the acquisition of 7,000 Folke AB customers effective June 2025.

Financial highlights

• Net sales: SEK 456.2 million (SEK 414.8 million in Q1 2024), +10.1% year-over-year.

• EBIT: SEK 32.0 million (SEK 35.0 million), EBITDA: SEK 66.7 million (SEK 70.5 million), EBITA: SEK 37.6 million (SEK 43.2 million).

• Net income: SEK 24.5 million (SEK 24.7 million), EBT: SEK 29.2 million (SEK 32.3 million).

• Cash flow from operations after working capital: SEK 69.2 million (SEK 53.2 million).

• Dividend increased to SEK 0.10 per share, split between March and September.

Outlook and guidance

• Focus for H1 2025 is on organic growth through increased marketing and sales activities, with a shift to profitability and margin improvement in H2 2025.

• Continued investments in infrastructure, product portfolio, and AI-driven efficiency expected to support long-term growth.

• Company aims for improved margins and strengthened growth entering 2026.