TKM Grupp (TKM1T) Q3 2025 earnings summary

Executive summary

• Sales revenue for Q3 2025 grew 1.5% year-over-year to €232.7m, but 9M 2025 revenue declined 1.1% to €680.4m compared to 9M 2024.

• Net profit for Q3 2025 was €8.1m, down 5.7% year-over-year; 9M 2025 net profit fell 51.7% to €8.2m.

• All segments except security posted revenue growth in Q3; car trade and security segments saw notable declines over 9M.

• Share price decreased 2.5% over nine months, closing at €9.23 at end of September 2025.

• Dividend of €0.65 per share was paid in 2025.

Financial highlights

• Q3 2025 EBITDA was €21.5m, down 4.9% year-over-year; 9M EBITDA dropped 10.8% to €55.9m.

• Gross margin for 9M 2025 was 27.26%, slightly down from 27.36% in 9M 2024.

• Operating profit for 9M 2025 was €23.9m, a 22.8% decrease year-over-year.

• Earnings per share for 9M 2025 was €0.20, down from €0.42 in 9M 2024.

• Total assets as of 30 September 2025 were €664.0m, down 2.9% from year-end 2024.

Outlook and guidance

• Economic recovery in Estonia is expected to remain slow, with 2025 GDP growth forecast at 0.6%.

• Inflation is projected to ease to around 2% by the second half of 2026, supporting real wage growth.

• Consumer purchasing power is expected to improve as inflation recedes and net wages rise.