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Stillfront Group (SF) investor relations material
Stillfront Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved margin expansion with adjusted EBITA/EBITDAC margin rising to 27% from 25% year-over-year, despite a 9.4% organic revenue decline in Q4 2025.
Strategic focus on cost savings, disciplined user acquisition, and DTC channel rollout drove profitability.
Significant non-cash goodwill and intangible asset impairment of just under SEK 2.3 billion, mainly in Europe and North America.
Divested non-core narrative portfolio in Europe and restructured segment reporting to focus on key franchises.
Free cash flow for Q4 was SEK 290 million, supporting debt repayment and share buybacks.
Financial highlights
Q4 net revenue was SEK 1,356 million, down 9.4% organically year-over-year.
Adjusted EBITA/EBITDAC for the quarter was SEK 368 million, with a margin of 27%.
Gross margin improved to 83%, up three percentage points year-over-year, driven by higher DTC share.
Free cash flow for Q4 was SEK 290 million; LTM free cash flow reached SEK 922 million.
User acquisition spend decreased to SEK 356 million (26% of revenue), down from SEK 504 million (30%) last year.
Outlook and guidance
Aiming to return to organic growth over time through incremental business improvements and disciplined investments.
2026 expected to be an investment year, with disciplined UA deployment to support growth in key franchises.
EBITDA margin may fluctuate quarter to quarter, but focus remains on long-term profitability.
Healthy cash flows expected to be maintained, with no debt maturities in 2026.
No dividend proposed for 2025.
- TimeTickerHeadlineOpen
- 6 FebSCW
73% revenue growth and record backlog driven by new space contracts and strategic investments. - 6 FebCDP
2025 FFO/share rose 5.8% with strong leasing and retention; 2026 guidance signals further growth. - 6 FebSCW
Revenue at 15.86 mln PLN, backlog 17.14 mln PLN, and major space contracts drive 2025 outlook. - 6 FebPENG
All proposals passed, with no questions raised during the Q&A session. - 6 FebSCW
Q2 2024 revenue up 115% y/y, backlog nearly doubled, Space segment leads growth. - 6 FebPECO
2026 FFO per share growth guided at 5.5% with record occupancy and strong acquisitions. - 6 FebISCTR
Net profit up 90% in 2025, with strong NIM, fee growth, and positive 2026 outlook. - 6 FebSCW
Q2 2025 revenue surged 120% y/y, driven by a record Asian contract and a tripled backlog. - 6 FebSCW
Q1 2025 revenue jumped 97% year-over-year, with strong backlog and major new contracts secured. - 6 FebSCW
Q3 revenue up 39% y/y, backlog at 58.3 mln PLN, Space leads growth with global contracts.
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