Byggmax Group (BMAX) Q3 2025 earnings summary

Executive summary

• Profitability improved for the sixth consecutive quarter, with EBITA up to SEK 272 million (249 million) and margin rising to 14.0% (12.7%), despite a 0.8% decrease in net sales year-over-year.

• Operational excellence, cost control, and a focus on core categories and customer experience drove higher margins and satisfaction.

• Gross margin reached a record 37.4% (35.9%), supported by favorable product mix, e-commerce refinement, and low waste.

• Net debt reduced to SEK 196 million (488 million), with leverage ratio down to 0.4x from 1.3x last year.

• High store standards, efficient logistics, and digital enhancements such as AI-driven tools supported operational improvements.

Financial highlights

• Q3 2025 net sales: SEK 1,949 million (1,965 million), down 0.8% year-over-year; like-for-like sales down 0.2%.

• EBITA increased to SEK 272 million in Q3 2025 from SEK 249 million in Q3 2024; EBITA margin at 14.0% (12.7%).

• Gross margin improved to 37.4% (35.9%) in Q3.

• Cash flow from operating activities (R12): SEK 830 million.

• Net profit for Q3: SEK 191 million (169 million); EPS SEK 3.26 (2.88).

Outlook and guidance

• Market remains weak and volatile, with cautious consumers, especially for large renovation projects.

• Focus remains on core categories, operational efficiency, and customer experience to drive future growth.

• Positioned for growth when the market recovers, leveraging agile and cost-efficient operations.