Eniro Group (ENRO) Q2 2025 earnings summary

Executive summary

• Strategic investments and restructuring aimed at growth and profitability, including acquisitions and efficiency programs.

• Achieved ARR of SEK 510 million, up 7% year-over-year, reflecting increased recurring revenue.

• Integration of Medialuotsi exceeded expectations; Qwamplify Nordics acquired post-period to strengthen digital marketing presence.

• Non-recurring costs for restructuring and strategic projects impacted results but are expected to yield future benefits.

Financial highlights

• Q2 net sales SEK 237 million (down 3% year-over-year); H1 net sales SEK 474 million (flat year-over-year).

• Q2 operating result SEK 7 million (12); H1 operating result SEK 20 million (16).

• Q2 EBITDA SEK 24 million (30); H1 EBITDA SEK 56 million (50); Q2 adjusted EBITDA SEK 31 million (30).

• Q2 net result SEK 1 million (5); H1 net result SEK 16 million (10).

• Cash flow from operations Q2 SEK 14 million (35); H1 SEK 33 million (47).

Outlook and guidance

• Efficiency program in Dynava expected to yield SEK 20 million in savings for 2025.

• Continued focus on innovation and digital transformation, especially in AI-driven solutions for SMEs.

• Ongoing monitoring of European AI regulation and readiness for CSRD reporting from January 2025.