High Coast Distillery (HIGHCO) Q3 2025 earnings summary

Executive summary

• Q3 2025 net sales were 15.2 MSEK, nearly flat year-over-year, with EBITDA at 4.8 MSEK and operating profit at 2.8 MSEK, both down from Q3 2024 due to lower bottled cask sales and ongoing market investments.

• Year-to-date net sales reached 41.1 MSEK, a decrease from 45.0 MSEK in the prior year, mainly impacted by reduced export orders despite continued export initiatives.

• The company remains focused on brand building and export growth, especially in Germany, and expects medium- to long-term benefits from these efforts.

Financial highlights

• Q3 2025 EBITDA was 4.8 MSEK (6.1 MSEK in Q3 2024); operating profit was 2.8 MSEK (4.3 MSEK); profit after financial items was 2.1 MSEK (3.5 MSEK).

• EPS before dilution was 0.30 SEK (0.49 SEK); cash flow was -2.8 MSEK (-2.2 MSEK).

• Year-to-date EBITDA was 10.9 MSEK (16.6 MSEK); operating profit 4.9 MSEK (11.3 MSEK); profit after financial items 2.4 MSEK (9.1 MSEK); EPS 0.33 SEK (1.26 SEK).

• Cash flow for the year was -2.9 MSEK (-2.1 MSEK).

Outlook and guidance

• The company anticipates a strong finish to 2025 with new product launches and continued export focus, particularly in Germany.

• Management remains optimistic about long-term growth despite current industry challenges.