Condo Nordic (CONDO) Q1 2025 earnings summary

Executive summary

• Q1 2025 marked the first full fiscal year as a listed company, with improved sales margin, EBITDA, and operating profit despite a seasonal sales dip compared to Q1 2024.

• Expansion into the Swedish market is underway, expected to contribute positively to cash flow and profits.

Financial highlights

• Net sales decreased by 8% to SEK 4.2 million from SEK 4.6 million year-over-year.

• Gross profit increased to SEK 1.7 million from SEK 1.4 million year-over-year.

• EBITDA improved to SEK -0.3 million from SEK -1.2 million year-over-year.

• Adjusted operating profit after financial items was SEK -1.0 million, up from SEK -1.6 million year-over-year.

• Earnings per share remained negative.

Outlook and guidance

• Management focuses on strengthening liquidity, improving sales margins, and cost-cutting for a sustainable path forward.

• Swedish market entry is expected to drive future growth and profitability.