Duroc (DURC) Q2 24/25 earnings summary

Executive summary

• Net sales for H1 2024/25 decreased by 5% to SEK 1,426.1m year-over-year; organic growth was -5%.

• EBITDA for H1 was SEK 36.0m (47.7), with adjusted EBIT at SEK -16.0m (-3.6); excluding IFG and Drake, adjusted EBIT was SEK 36.9m (29.3).

• Duroc's board decided to divest fiber businesses IFG and Drake, shifting focus to industrial and trading units.

• Acquisition of Broddson AB completed in January 2025, expanding into road maintenance.

• Strong balance sheet with equity at SEK 1,143.2m and soliditet at 62%.

Financial highlights

• Q2 net sales fell 6% to SEK 721.7m (769.4); organic growth -8%.

• Q2 EBITDA was SEK 9.5m (26.4); adjusted EBIT SEK -19.5m (2.1).

• Q2 net income per share was SEK -0.45 (0.05); H1 was SEK -0.50 (-0.02).

• Cash flow from operations in H1 was SEK 7.3m (25.8); liquidity at period end SEK 119.1m (21.1).

• Net debt (excl. lease liabilities) at SEK 54.9m (119.5); net debt/equity ratio improved.

Outlook and guidance

• Industrial and trading units expected to maintain investment pace barring major macro disruptions.

• Focus remains on divesting fiber units and investing in stable, high-return businesses.

• Strong financial position allows for value-maximizing divestments and further acquisitions.