IMHO Intermedia House (IMHO) Q3 2025 earnings summary

Executive summary

• Net sales decreased by 37% to 4,351 kSEK in Q3 2025 and by 16% to 9,203 kSEK for Jan–Sep 2025 compared to the same periods last year.

• EBITDA was -2,626 kSEK in Q3 and -5,431 kSEK for Jan–Sep, both significantly lower year-over-year.

• Operating result (EBIT) was -8,863 kSEK in Q3 and -13,126 kSEK for Jan–Sep, reflecting increased losses.

• Period result was -5,001 kSEK in Q3 and -9,652 kSEK for Jan–Sep, with negative cash flow from operations.

• Major restructuring in publishing, including layoffs and divestment of Danish subsidiaries and Lusthuset Förlag.

Financial highlights

• Q3 net sales: 4,351 kSEK (down 37% YoY); Jan–Sep: 9,203 kSEK (down 16% YoY).

• Q3 EBITDA: -2,626 kSEK (vs. -1,235 kSEK YoY); Jan–Sep: -5,431 kSEK (vs. -1,287 kSEK YoY).

• Q3 EBIT: -8,863 kSEK (vs. -3,347 kSEK YoY); Jan–Sep: -13,126 kSEK (vs. -4,935 kSEK YoY).

• Q3 period result: -5,001 kSEK (vs. -1,628 kSEK YoY); Jan–Sep: -9,652 kSEK (vs. -3,423 kSEK YoY).

• Cash flow from operations: -3,041 kSEK in Q3; -3,171 kSEK for Jan–Sep.

Outlook and guidance

• Cost reduction measures in publishing expected to lower expenses and potentially achieve positive cash flow within months if obligations are managed.

• Media division seen as having high potential, with key productions aiming for full financing in early 2026.

• Updated guidance delays revenue recognition for major productions but maintains overall revenue expectations.