MatvareExpressen (MVE) Q2 2025 earnings summary

Executive summary

• Achieved record pre-tax quarterly result, with strong organic growth and customer base expansion across all segments.

• Opened a new branch in Vestfold, aiming for increased sales in Vestfold/Telemark.

• Renewed a key contract in Agder and secured a major new contract with Drammen Kommune, starting autumn 2025.

• Targeting nearly NOK 500 million in revenue for 2025, with EBITDA for H1 2025 matching full-year 2024.

Financial highlights

• Q2 2025 revenue: NOK 121.9m, up 18% year-over-year; EBITDA: NOK 9.0m, up 107%; pre-tax profit: NOK 3.9m, up 155%.

• Bank deposits at NOK 25.8m; net interest-bearing debt at NOK 56.7m; equity ratio at 27.9%.

• H1 2025 net income: NOK 6.0m, up from NOK 1.6m in H1 2024.

Outlook and guidance

• Revenue goal for 2025 set at nearly NOK 500m, in line with strategic ambitions.

• Continued customer and sales growth expected across all regions.

• Anticipates negative pre-tax result in Q3 2025 due to seasonal activity drop, but overall 2025 pre-tax profit expected to improve over 2024.