Citira (CITRA) Q1 2025 earnings summary

Executive summary

• Total revenue for Q1 2025 rose 102% year-over-year to SEK 410.3 million, mainly driven by acquisitions.

• Like-for-like (LFL) revenue increased 3% to SEK 424.9 million, reflecting organic growth despite a cautious market.

• Adjusted EBITDA was SEK -33.2 million, down from SEK -2.9 million, impacted by seasonality and integration costs.

• Five acquisitions were completed in the quarter, expanding the service network and product range.

• Additional SEK 400 million in bonds issued to support growth and acquisitions.

Financial highlights

• Reported total revenue: SEK 410.3 million (Q1 2024: SEK 202.8 million).

• Adjusted EBITDA: SEK -33.2 million (Q1 2024: SEK -2.9 million).

• LFL adjusted EBITDA: SEK -27.9 million (Q1 2024: SEK -28.9 million).

• Profit before tax: SEK -96.5 million (Q1 2024: SEK -30.2 million).

• Net financial items: SEK -24.6 million, with interest expenses rising due to bond issuance.

• Cash flow for the period: SEK 330.0 million, supported by bond issuance and working capital changes.

Outlook and guidance

• Management expects a lagging effect from deferred customer spending, potentially boosting demand later in 2025.

• Focus remains on integrating acquisitions, investing in infrastructure, and maintaining commercial momentum.

• Market conditions remain uncertain, but confidence in long-term structural value is reiterated.