Veteranpoolen (VPAB) Q1 2025 earnings summary

Executive summary

• Net sales grew 10.7% year-over-year to 111.5 MSEK in Q1 2025, with both private and corporate segments contributing, though private services outperformed corporate.

• Operating profit rose to 3.7 MSEK (1.5 MSEK), with margin improving to 3.3% (1.5%), driven by growth and stable cost base.

• Net income after tax increased to 2.9 MSEK (1.3 MSEK), and EPS before dilution was 0.15 SEK (0.06 SEK).

• Board proposes a dividend of 2.25 SEK per share.

Financial highlights

• Cash flow from operations after working capital was -5.2 MSEK (-5.8 MSEK) for the quarter.

• Liquidity improved, with cash and equivalents at 58.9 MSEK (47.2 MSEK) as of March 31, 2025.

• Equity at quarter-end was 65.8 MSEK (59.9 MSEK), with a solidity ratio of 48.3% (49.3%).

Outlook and guidance

• Continued focus on private customer growth and summer staffing for corporate clients.

• Ongoing investments in international expansion, especially in Denmark, expected to impact short-term results.