Citira (CITRA) Q3 2025 earnings summary

Executive summary

• Revenue grew significantly year-over-year, driven by acquisitions and increased B2B activity, despite a generally cautious market environment.

• Profitability improved on a like-for-like basis, with a 10% increase in LFL adjusted EBITDA for the nine-month period, mainly due to gross margin improvements and cost efficiencies.

• Integration of Däckia and realization of planned synergies are progressing, with further initiatives to reduce fixed costs in Sweden.

• Leadership team strengthened with key appointments in Sweden and procurement.

• High acquisition activity continued, with eleven acquisitions completed in the period and additional deals announced post-period.

Financial highlights

• Reported total revenue for Q3 2025 was SEK 782.6 million, up 113% year-over-year; nine-month revenue was SEK 1,840.2 million, up 114%.

• LFL total revenue for Q3 increased 2% to SEK 786.4 million; nine-month LFL revenue was SEK 2,242.1 million.

• Reported adjusted EBITDA for Q3 was SEK -14.5 million (down from 21.7 million); nine-month adjusted EBITDA was SEK 4.3 million (down from 31.3 million).

• LFL adjusted EBITDA for Q3 was SEK 21.3 million (down 21%); nine-month LFL adjusted EBITDA was SEK 62.9 million (up 10%).

• Net loss before tax for Q3 was SEK -97.8 million; for the nine months, SEK -215.8 million.

• Cash flow for Q3 was SEK -175.2 million, impacted by seasonal working capital build-up and integration costs.

Outlook and guidance

• Focus remains on realizing synergies in Sweden, strengthening B2B customer position, and continuing the acquisition agenda.

• New B2B contracts and tenders are expected to positively impact future quarters.

• Net debt is expected to decrease as seasonal effects reverse and synergies are realized.