Guideline Geo (GGEO) Q2 2025 earnings summary

Executive summary

• Q2 2025 net sales were SEK 44.4 million, with order intake of SEK 47.6 million; EBITDA was positive but EBIT remained negative, and net cash position was SEK 20.9 million.

• H1 2025 sales grew 8.8% and order intake 8.3% year-over-year, with positive operating cash flow of SEK 11.1 million.

• Strong sales trends in Asia-Pacific and Americas, with infrastructure and utility locating sectors rebounding, especially in the U.S. and UK.

• Acquisition of the MALÅ distributor in Australia in January 2024 contributed to sales growth and expanded product offerings in Oceania.

• Product innovation continued with new launches, including mobile solutions, real-time software, and accessories.

Financial highlights

• Q2 net sales: SEK 44.4 million; order intake: SEK 47.6 million; EBITDA: SEK 1.2 million (2.8% margin); EBIT: -SEK 3.0 million (-6.7% margin).

• Net cash at quarter-end: SEK 20.9 million, with SEK 10 million in unused credit facility.

• Operating cash flow for H1: SEK 11.1 million; Q2: SEK 0.6 million.

• Currency effects negatively impacted EBITDA by SEK 4.3 million in H1 2025.

• Depreciation increased due to the Australian acquisition and new product launches.

Outlook and guidance

• Seasonal effects expected to continue, with stronger sales and profitability in the second half of the year.

• Management highlights resilience despite import tariffs and currency headwinds; local US presence mitigates tariff impact.

• Large tenders (SEK 2–5 million) occur periodically, with potential for significant contracts.

• Long-term strategy focuses on raising profitability for stable positive EBIT.