Idun Industrier (IDUN) Q1 2025 earnings summary

Executive summary

• Organic net sales grew by 2.9% and EBITA by 8.1% in Q1 2025, with continued margin improvements and rising goodwill-adjusted EPS.

• Q1 marked the 21st consecutive quarter of higher EBITA versus the comparable period.

• Strategic refinancing and increased ownership in key subsidiaries were executed, expected to reduce annual interest costs by SEK 20m and enhance financial flexibility.

• Both Manufacturing and Service & Maintenance segments started the year with growth in sales and profit, despite a weak macro environment and aided by favorable weather.

• Increased ownership in group companies Eugen Wiberger AB (to 86%) and 2B Best Business AB (to 98%).

Financial highlights

• Net sales reached SEK 569.3m (549.0m), representing 2.9% organic growth year-over-year.

• EBITA was SEK 77.6m (73.5m), up 8.1% organically year-over-year, with EBITA margin at 13.6%.

• Gross profit increased to SEK 348.2m (322.2m), gross margin at 61.2%.

• Goodwill-adjusted EPS after dilution was SEK 3.2 (2.5).

• Operating cash flow was SEK 54.3m (73.5m/75.9m).

Outlook and guidance

• Management sees continued uncertainty due to geopolitical and macroeconomic risks but remains confident in the group’s resilience and acquisition opportunities.

• Focus remains on operations in Sweden and the Nordic region (92% of sales in 2024).

• Ongoing focus on acquiring new and add-on companies, with strong liquidity supporting further growth.