Scandbook (SBOK) Q2 2025 earnings summary

Executive summary

• Net sales for Q2 2025 increased by 11.5% year-over-year to 109.4 MSEK, with EBIT at 5.2 MSEK and net income at 4.1 MSEK.

• H1 2025 net sales rose 15.3% to 226.0 MSEK, with EBIT at 13.8 MSEK and net income at 11.2 MSEK.

• Strong sales growth in the US and Germany; strategic entry into the French market.

• Continued focus on sustainability, including preparations for EU deforestation regulations and SBTi alignment.

Financial highlights

• Q2 EBITDA was 10.6 MSEK (down from 11.0 MSEK year-over-year); EBIT margin at 4.7%.

• H1 EBITDA reached 24.6 MSEK (up from 20.1 MSEK); EBIT margin at 6.1%.

• EPS for Q2 was 0.61 SEK (0.68 SEK prior year); H1 EPS was 1.66 SEK (1.10 SEK prior year).

• Cash flow for Q2 was -11.8 MSEK, impacted by a dividend of 18.6 MSEK.

• Net cash position (excluding lease liabilities) at period end was 29.4 MSEK.

Outlook and guidance

• Well positioned for continued value creation in 2025 despite a challenging market environment.

• Ongoing expansion in France and progress in sustainability initiatives expected to support long-term growth.