Mavshack (MAV) Q2 2025 earnings summary

Executive summary

• Completed divestment of all non-core businesses to focus on profitable streaming and IT services, especially in the Middle East and India.

• Leadership strengthened with the return of Freddie Matta as Chairman and a strategic focus on OFW markets and telecom partnerships.

• Significant macroeconomic growth in core markets (Philippines and India) supports expansion opportunities.

Financial highlights

• Q2 2025 net revenue: 0.09 MSEK (2.9 MSEK Q2 2024); H1 2025 net revenue: 0.8 MSEK (5.9 MSEK H1 2024).

• Q2 2025 EBITDA: -1.8 MSEK (-1.2 MSEK Q2 2024); EBIT: -3.2 MSEK (-2.4 MSEK Q2 2024).

• H1 2025 EBITDA: -3.3 MSEK (-10.4 MSEK H1 2024); EBIT: -6.3 MSEK (-7.1 MSEK H1 2024).

• Result after financial items improved to -0.5 MSEK in Q2 2025 from -4.8 MSEK in Q2 2024.

Outlook and guidance

• Preparing for a re-launch with Etisalat in the Middle East, targeting the OFW community with curated content.

• Strong macroeconomic tailwinds in the Philippines and India expected to drive future growth.

• Confident in sustainable growth and value creation as strategic focus sharpens.