Elon (ELON) Q1 2025 earnings summary

Executive summary

• Net sales grew 3.3% year-over-year to 1,133 MSEK, driven by strong B2C and e-commerce performance, while Solutions segment declined due to logistics exit.

• Gross profit improved to 199 MSEK (17.6% margin), up from 138 MSEK (12.6%) last year, aided by product mix and currency effects.

• EBIT loss narrowed to -13 MSEK from -41 MSEK; net result improved to -9.1 MSEK from -32.9 MSEK year-over-year.

• CEO transition announced: Henrik Aronsson to take over in September 2025; ongoing focus on core appliance and electronics business.

• Acquisition of ND Norr AB in Skellefteå for 3.9 MSEK, adding 48 MSEK in annual sales.

Financial highlights

• Net sales: 1,133 MSEK (+3.3% year-over-year); organic growth 3.3%.

• Gross margin: 17.6% (up from 12.6%); adjusted for currency, 15.8%.

• EBIT: -13.4 MSEK (margin -1.2%), improved from -40.6 MSEK (-3.7%).

• Net result: -9.1 MSEK (EPS -0.61 SEK), improved from -32.9 MSEK (EPS -2.21 SEK).

• Operating cash flow: -134 MSEK, improved by 97 MSEK year-over-year, mainly due to better results and lower receivables.

Outlook and guidance

• B2C trend remains positive, B2B is stable, and Solutions segment is under restructuring with logistics exit to complete in 2025.

• Management confident in meeting 2025 targets, focusing on core business and digitalization.