Idun Industrier (IDUN) Q2 2025 earnings summary

Executive summary

• Net sales for Q2 2025 reached SEK 592.5m, up 2.6% year-over-year, with organic growth of 0.3%; EBITA was SEK 89.1m, down 2.2% (organic -6.2%).

• LTM net sales totaled SEK 2,228m, with an 18% EBITA margin and 3.2% sales growth.

• Rolling 12-month organic net sales growth was 2.4%, and EBITA grew 4.7% organically.

• Service & Maintenance accounted for 62% of sales and 58% of EBITA, while Manufacturing contributed 38% of sales and 42% of EBITA.

• Increased ownership in several subsidiaries, including 2B Best Business AB (to 98%) and Eugen Wiberger AB (to 86%).

Financial highlights

• Gross margin improved to 61.2% in Q2 2025 from 60.8% a year earlier.

• Operating cash flow for Q2 2025 was SEK 71.1m, up from SEK 54.1m in Q2 2024.

• Earnings per share adjusted for goodwill were SEK 4.2, compared to SEK 4.0 in the prior year.

• Net debt to EBITDA stood at 2.0x as of LTM Q2 2025.

• Solid equity ratio at 34.8%.

Outlook and guidance

• The group maintains a strong financial position and sees good opportunities for new acquisitions.

• Market conditions remain uncertain due to global trade conflicts and war, but the group is adapting well.

• EBITA from recent acquisition Interagro Skog expected to increase by SEK 7-8m in coming quarters.

• Focus remains on cost control, maintaining strong market positions, and pursuing further acquisitions.