SP Group (SPG) Q1 2025 earnings summary

Executive summary

• Achieved record Q1 revenue of DKK 786.3 million, EBITDA of DKK 166.3 million, and EBT margin expansion, driven by Healthcare and own products.

• New US factory operational, supporting Healthcare segment expansion.

• Launched DKK 40 million share buy-back programme to reduce share capital.

• Maintained 2025 guidance despite ongoing geopolitical and tariff-related uncertainties.

• Net profit grew 19.3% to DKK 79.3 million, and diluted EPS increased 19.0% to DKK 6.51.

Financial highlights

• Revenue rose 8.8% year-over-year to DKK 786.3m in Q1 2025.

• EBITDA increased 12.0% to DKK 166.3m; EBITDA margin improved to 21.1%.

• EBIT grew 18.8% to DKK 117.1m; EBIT margin reached 14.9%.

• EBT up 19.2% to DKK 101.0m; EBT margin at 12.8%.

• Operating cash flow was DKK 130.5m; net interest-bearing debt fell by DKK 57.4m to DKK 763.8m.

Outlook and guidance

• 2025 revenue growth expected at 3–10%.

• EBITDA margin guidance maintained at 19–21%.

• EBT margin guidance at 11–13%.

• Growth to be driven by new products, customers, and existing customer expansion.

• Management expects continued growth in Healthcare, Cleantech, and Foodtech, with focus on new products and investments.