TKM Grupp (TKM1T) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 8.2% YoY to €251.7m; 9M revenue increased 8.1% to €735.2m, led by car trade growth and acquisition integration.

• Q3 net profit fell 11.8% to €7.1m; 9M net profit advanced 4.8% to €8.6m, while 9M profit before tax declined 4.2% to €15.3m.

• The car segment expanded strongly, while supermarkets and department stores faced soft consumer demand, competition and higher costs.

Financial highlights

• Q3 gross profit margin was 26.15% versus 26.99% YoY; 9M margin was 26.21% versus 27.26%.

• Q3 operating profit was €10.3m, down 5.1% YoY; 9M operating profit was €24.0m, up 0.6%.

• Q3 EBITDA was €21.0m, down 2.0% YoY; 9M EBITDA was €56.1m, up 0.4%.

• Q3 net profit was €7.1m versus €8.1m; 9M net profit was €8.6m versus €8.2m. EPS was €0.18 in Q3 and €0.21 for 9M.

• 9M operating cash flow was €29.4m versus €38.7m; investing outflow was €30.0m and financing outflow €13.6m.

Outlook and guidance

• Bank of Estonia forecasts Estonian GDP growth of 2.6% in 2026 and 2.4% in both 2027 and 2028; consumer prices are forecast to rise 3.1% in 2026.

• Papiniidu Selver is scheduled to open in Pärnu in November; Mai Selver and Põlva Selver are scheduled to close in October.

• Wider impact from Škoda model updates is expected in Q4; new KIA electric and crossover models broaden the offering and support electric-vehicle sales ambitions.