High Coast Distillery (HIGHCO) Q4 2025 earnings summary

Executive summary

• Revenue for Q4 2025 was 16.5 MSEK, nearly flat year-over-year, with full-year revenue at 57.6 MSEK, down from 61.1 MSEK in 2024.

• EBITDA for Q4 was 4.7 MSEK (down from 5.8 MSEK), and for the year 15.6 MSEK (down from 22.4 MSEK).

• Net income for the year was 0.86 MSEK, a decrease from 0.61 MSEK in 2024.

• The company maintained financial discipline and adjusted production to match a weaker market.

Financial highlights

• Operating income for Q4 was 2.6 MSEK (3.9 MSEK last year); full-year operating income was 7.5 MSEK (15.2 MSEK in 2024).

• Result after financial items for Q4 was 1.7 MSEK (2.8 MSEK); full-year result was 4.1 MSEK (11.8 MSEK).

• Cash flow for Q4 was -3.7 MSEK (3.4 MSEK); full-year cash flow was -6.6 MSEK (1.3 MSEK).

• Earnings per share before dilution for Q4 was -0.18 SEK (-1.15 SEK); for the year, 0.15 SEK (0.11 SEK).

Outlook and guidance

• The company expects a stable outlook, supported by a strong brand, significant mature inventory, and a long-term business model.

• Production was reduced to 200,000 LPA annually to optimize inventory and reduce capital binding.

• Increased focus on digital channels and event presence to strengthen customer relationships and attract new customers.