Hedin Mobility (HEDIN) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 decreased by 2% year-over-year to MSEK 21,140; for Jan–Sep 2025, net sales decreased by 1% to MSEK 67,303.

• Operational earnings for Q3 fell to MSEK 66 (from 136), but for Jan–Sep rose to MSEK 339 (from 305), reflecting cost-saving effects.

• Operating profit for Q3 dropped to MSEK 14 (from 153); Jan–Sep operating profit improved to MSEK 179 (from -120), aided by fewer non-recurring costs.

• Net loss for Q3 widened to MSEK -232 (from -118); Jan–Sep net loss improved to MSEK -595 (from -888).

• Cash flow from operating activities was MSEK 444 in Q3 and MSEK 1,731 for Jan–Sep.

Financial highlights

• Retail net sales for Q3 decreased by 2% to MSEK 19,179; Distribution net sales fell 23% to MSEK 2,444.

• Operational earnings margin for Q3 was 0.3% (down from 0.6%); for Jan–Sep, 0.5% (up from 0.4%).

• Net financial items improved to MSEK -285 in Q3 (from -370) and to MSEK -887 for Jan–Sep (from -1,026), mainly due to lower interest expenses.

• Available liquidity at period end was MSEK 1,192.

Outlook and guidance

• Premium segment shows signs of recovery, especially for electric BMW and Mercedes models.

• Used car market in Europe remains strong, but Swedish margins are pressured by high EV supply; normalization expected in coming quarters.

• Further cost reductions and efficiency measures are planned to address weak market conditions and support cash flow.