High Coast Distillery (HIGHCO) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were 10.2 MSEK, nearly unchanged year-over-year, with EBITDA at 1.7 MSEK, down from 3.5 MSEK.

• Operating result was -0.3 MSEK compared to 1.7 MSEK last year, mainly due to lower bottled cask sales, currency losses, and increased marketing costs.

• High Coast Distillery Exclusive 11 won World's Best Single Cask Single Malt Whisky at the World Whiskies Awards, supporting international expansion ambitions.

Financial highlights

• Net sales: 10.2 MSEK (Q1 2024: 10.4 MSEK).

• EBITDA: 1.7 MSEK (Q1 2024: 3.5 MSEK).

• Operating result: -0.3 MSEK (Q1 2024: 1.7 MSEK).

• Result after financial items: -1.2 MSEK (Q1 2024: 1.0 MSEK).

• Cash flow: -4.6 MSEK (Q1 2024: -0.3 MSEK), mainly due to investments in cask inventory.

Outlook and guidance

• Strategic focus on brand development and visibility, shifting from Sweden to Europe and Asia for international sales expansion.

• Planned investments in digital and physical presence expected to impact short-term results but are key for long-term growth.

• Management remains attentive to global economic uncertainties but maintains strong expansion ambitions.