Trainimal (TRML) Q2 24/25 earnings summary

Executive summary

• Net sales for Q2 2024/2025 were 2,654 TSEK, nearly flat year-over-year, with operating loss narrowing to -40 TSEK from -115 TSEK.

• EBITDA improved to 574 TSEK from 344 TSEK, and cash flow from operations remained positive at 456 TSEK.

• The company continues to focus on cost control and product quality, with investments in app development and international expansion.

Financial highlights

• Q2 net sales: 2,654 TSEK (2,681 TSEK prior year); H1 net sales: 5,283 TSEK (5,384 TSEK prior year).

• Q2 operating result: -40 TSEK (-115 TSEK); Q2 EBITDA: 574 TSEK (344 TSEK).

• Q2 result before tax: -41 TSEK (-144 TSEK); EPS: -0.02 SEK (-0.06 SEK).

• Cash flow from operations Q2: 456 TSEK (433 TSEK); H1: 907 TSEK (394 TSEK).

• Bruttomarginal for subscriptions Q2: 72.7% (60.2%).

Outlook and guidance

• English-language app rollout to resume soon, with expanded food database for global reach.

• Expansion to focus on the Basic service, which shows high profitability and customer uptake.

• Market remains sluggish, with slow recovery in consumer spending expected.