Citira (CITRA) Q2 2025 earnings summary

Executive summary

• Profitability improved significantly in H1 2025, driven by acquisitions and gross margin initiatives.

• Completed the acquisition of Däckia at the end of June, launching an integration plan to realize synergies.

• Q2 2025 saw improved profitability compared to Q1 2024, despite a cautious market and subdued demand.

• Finland delivered strong organic growth and results, supporting overall group performance.

• Seven acquisitions completed in H1, with further deals announced post-period.

Financial highlights

• Q2 2025 net sales were SEK 887.3 million, down 4% year-over-year; adjusted EBITDA rose to SEK 109.8 million from SEK 99.4 million.

• Q2 reported revenue: SEK 663.0m (up 129% YoY); H1: SEK 1,073.4m (up 118% YoY).

• Adjusted EBITDA margin expanded to 12.4% from 10.8% in Q2 2024.

• Gross profit margin improved to 50.9% from 46.8% year-over-year.

• Net debt at period end was SEK 1,407.8 million, 4.85/5.27x LFL adjusted EBITDA with/without synergies.

Outlook and guidance

• Acquisition of Däckia expected to create significant value; acquisition agenda remains active.

• Focus for H2 2025 is on profitable organic growth and continued execution of strategic initiatives.

• Expecting gradual normalization of demand ahead of winter, driven by replacement needs.