Fable Media Group (FABLE) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue and EBITDA declined significantly year-over-year due to regulatory changes in Brazil and a strong prior-year period, but net sales excluding Brazil grew 15% year-over-year, reflecting underlying business strength.

• The company completed the earnout settlement for Fable Media ApS, repurchased bonds, and proposed a quarterly dividend, becoming the only listed peer to pay dividends.

• Referred First Time Depositors increased 23% in Q2, and revenue is now more diversified across markets.

Financial highlights

• Q2 2025 total revenue: SEK 16.9M, down 39% year-over-year; net sales: SEK 16.9M, down 39%.

• Net sales excluding Brazil: SEK 14.1M, up 15% year-over-year.

• EBITDA: SEK 11.1M, down 46% year-over-year; EBITDA margin: 66% (vs. 75%).

• Operating profit (EBIT): SEK 11.1M (vs. SEK 4.6M); profit after tax: SEK 8.8M (vs. SEK 0.2M).

• Basic/diluted EPS: SEK 0.26 (vs. SEK 0.01).

• H1 2025 total revenue: SEK 36.8M, down 26% year-over-year; EBITDA: SEK 21.6M, down 40%.

Outlook and guidance

• Full-year 2025 forecast: revenue SEK 76–86M, EBITDA SEK 50–60M.

• Quarterly dividend of up to SEK 0.10 per share (SEK 3.5M total) proposed, with intent to distribute up to 50% of net profit per quarter.