Goodbye Kansas Group (GBK) Q4 2025 earnings summary

Executive summary

• Net sales for Q4 2025 were SEK 43.1 million, down 39% year-over-year due to project timing and a strong prior-year quarter.

• Full-year 2025 net sales increased 1% to SEK 175.0 million, with a 49% rise in order intake and a record order book at year-end.

• Strategic focus on sales and diversification led to a fivefold increase in the order book and entry into new markets.

• Operational momentum is supported by a new CEO appointment and a strengthened balance sheet.

Financial highlights

• Q4 EBITDA was SEK -7.4 million (8.1), EBIT SEK -7.9 million (7.8), and profit before tax SEK -8.4 million (7.0).

• Full-year EBITDA improved to SEK -28.6 million (-42.7), EBIT SEK -30.3 million (-49.9), and profit before tax SEK -35.1 million (-52.5).

• Earnings per share for Q4 were SEK -0.22 (0.35) and for the year SEK -0.94 (-2.28).

• Cash and cash equivalents at year-end were SEK 10.1 million (17.5).

• Net debt at year-end was SEK 4.9 million (8.5).

Outlook and guidance

• Record order book and strengthened balance sheet provide a solid foundation for profitable growth in 2026.

• Focus for 2026 is on execution, scalability, and capitalizing on a leading position in digital content.

• Management expects positive operating cash flow and results for 2026.