Ortelius International (ORTIN) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 was 60.1 MSEK, down from 80.6 MSEK year-over-year; H1 2025 revenue was 96.5 MSEK, down from 125.2 MSEK year-over-year.

• Q2 EBITDA was 0.9 MSEK (1.6 MSEK last year); H1 EBITDA was -1.5 MSEK (-0.3 MSEK last year).

• Q2 operating result was -0.9 MSEK (19.7 MSEK last year); H1 operating result was -5.8 MSEK (15.5 MSEK last year).

• Net result for Q2 was -11.0 MSEK (19.0 MSEK last year); H1 net result was -17.2 MSEK (13.6 MSEK last year).

• Major strategic shift: divestment of leisure vehicles business and reverse acquisition of Ortelius International AB.

Financial highlights

• Gross margin for Q2 was 10.0% (9.9% last year); H1 gross margin was 9.6% (9.7% last year).

• Cash flow from operations for H1 was -5.5 MSEK (0.3 MSEK last year).

• Cash and equivalents at period end were 2.4 MSEK (4.2 MSEK last year).

• Net debt at period end was 7.7 MSEK (35.5 MSEK last year).

Outlook and guidance

• Focus in Q3 is on completing the reverse acquisition and transitioning to a new business model in IT consulting.

• Ongoing review for continued listing on Nasdaq due to business transformation.