Koskisen (KOSKI) Q2 2025 earnings summary

Executive summary

• Revenue grew 24.3% year-over-year to EUR 176.0 million for January–June 2025, driven by higher delivery volumes and improved prices in the Sawn Timber Industry segment.

• EBITDA increased 33.4% year-over-year to EUR 19.9 million, with an EBITDA margin of 11.3% (up from 10.5%).

• Profit for the period rose to EUR 9.2 million from EUR 7.2 million year-over-year; basic EPS was EUR 0.40 (up from EUR 0.31).

• The acquisition of lisveden Metsä was completed in June, expanding wood procurement and supporting organic growth.

• The operating environment remains uncertain due to weak construction demand and geopolitical factors, but direct US trade impacts are minor.

Financial highlights

• Q2 2025 revenue was EUR 89.7 million, up 15.3% year-over-year; EBITDA was EUR 10.5 million (up 11.8%).

• Adjusted EBITDA for Q2 was EUR 10.3 million, with a margin of 11.5%.

• Operating profit for H1 2025 was EUR 13.2 million (up 31.8% year-over-year); EBIT margin was 7.5%.

• Gross investments in H1 totaled EUR 26.4 million, mainly due to the lisveden Metsä acquisition.

• Equity ratio at period end was 55.6%; gearing was 23.7%.

Outlook and guidance

• 2025 revenue is expected to grow from 2024 levels; adjusted EBITDA margin guidance remains at 7–11%.

• Market outlook remains uncertain, especially in construction and consumer-driven demand.