MatvareExpressen (MVE) Q3 2025 earnings summary

Executive summary

• Achieved Q3 2025 operating revenues of NOK 110 million, up from NOK 91 million in Q3 2024, with strong customer growth and new contract wins in Agder, Drammen, and Arendal.

• Opened a new branch in Vestfold, aiming for increased sales in Vestfold/Telemark, and continued organic growth across all segments.

• Targeting nearly NOK 500 million in 2025 revenues, with Q3 results supporting a realistic path to this goal.

Financial highlights

• Total revenues for the first nine months of 2025 reached NOK 359.4 million, a 22% increase year-over-year.

• EBITDA for the period was NOK 20.4 million, up 117% from the same period in 2024.

• Pre-tax profit was NOK 5.4 million, a 1471% increase from the prior year period.

• Gross margin in Q3 2025 was 28.6%, slightly down from 29.4% in Q3 2024, with seasonal effects expected to reverse in Q4.

• Equity ratio increased to 27.2% as of Q3 2025, up from 26.4% at year-end 2024.

Outlook and guidance

• Expects continued revenue growth and a positive pre-tax result in Q4 2025.

• Preparing a new strategic plan for 2026–2028, with ambitions for further expansion.