Garpco (GARPCO) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 increased by 11% year-over-year to 144,161 tkr, with organic growth of 6% excluding acquisitions.

• EBITDA rose 59% to 8,952 tkr compared to Q3 2024, despite 2 Mkr in restructuring-related one-time costs.

• Result after tax for Q3 was 73 tkr, a turnaround from -2,055 tkr in Q3 2024.

• Major contract secured for the Tranås unit, ensuring full capacity and two-shift production from Q4 2025.

• Swedex divested its Skogås operations to focus on core business.

Financial highlights

• Q3 2025 net sales: 144,161 tkr (up 11% YoY); EBITDA: 8,952 tkr (up 59% YoY); EBITA: 4,141 tkr.

• Result before tax: 1,064 tkr (Q3 2024: -2,125 tkr); EPS after tax: 0.07 kr (Q3 2024: -1.97 kr).

• Jan–Sep 2025 net sales: 496,616 tkr (up 6% YoY); EBITDA: 23,528 tkr (down 26% YoY).

• Result after tax Jan–Sep: -872 tkr (2024: 6,551 tkr); EPS: -0.83 kr (2024: 6.29 kr).

• Net debt increased to 72,329 tkr; cash and equivalents at period end: 15,375 tkr.

Outlook and guidance

• Improved order intake across all business areas, especially in Interiör och Design.

• Ongoing restructuring to focus on core, high-margin segments and phase out unprofitable lines.

• Management expresses increased confidence for year-end due to new contracts and market activity.