Generic Sweden (GENI) Q1 2025 earnings summary

Executive summary

• Revenue grew by 6% year-over-year to 44.83 MSEK, with EBITDA up 39% to 9.94 MSEK and EPS at 0.63 SEK (0.45 SEK prior year).

• SaaS products, especially DOCS, drove strong gross profit and margin expansion; DOCS now used by over 20% of Swedish municipalities.

• Growth in healthcare and e-health segments offset weaker performance in logistics and e-commerce.

• CEO transition announced: Jonas Jegerborn steps down after 7 years, succeeded by Helene Henriksson.

Financial highlights

• Net sales: 44.83 MSEK (42.17 MSEK), +6% year-over-year.

• EBITDA: 9.94 MSEK (7.14 MSEK), +39% year-over-year; EBITDA margin 22% (17%).

• Net income: 7.73 MSEK (5.58 MSEK), EPS: 0.63 SEK (0.45 SEK).

• Operating cash flow: 6.66 MSEK (10.11 MSEK); total cash flow: -2.76 MSEK (13.99 MSEK).

• Cash and equivalents: 37.85 MSEK (39.20 MSEK); equity: 62.96 MSEK (51.99 MSEK).

Outlook and guidance

• Demand for services remains strong, especially for SaaS offerings; DOCS product adoption expanding in public sector.

• Healthcare and e-health segments expected to continue positive momentum; logistics and e-commerce remain subdued.