Bokusgruppen (BOKUS) Q2 2025 earnings summary

Executive summary

• Achieved historic Q2 results with 16.4% revenue growth and 27.2% gross profit growth year-over-year, driven by acquisitions and organic growth, despite a cautious consumer market.

• EBITA improved by 14.6 MSEK in Q2 2025 versus Q2 2024, with net result after tax improving by 9.2 MSEK year-over-year.

• For H1 2025, revenue grew 12.2% to 914.0 MSEK, and EBITA turned positive at 4.8 MSEK compared to -12.7 MSEK in H1 2024.

• Gross margins strengthened across all channels, driven by price optimization, improved logistics, and positive channel mix.

• Continued positive reading trends among young consumers supported demand.

Financial highlights

• Q2 net sales: 407.8 MSEK (+16.4% YoY); H1 net sales: 914.0 MSEK (+12.2% YoY).

• Q2 gross profit increased by 27.2% year-over-year; gross margin improved by 4.0 percentage points to 46.8%.

• Q2 EBITA: -8.8 MSEK (improved from -23.4 MSEK); H1 EBITA: 4.8 MSEK (from -12.7 MSEK).

• Q2 net result: -22.3 MSEK (from -31.5 MSEK); H1 net result: -26.1 MSEK (from -35.0 MSEK).

• EPS Q2: -1.38 SEK (from -1.95); H1: -1.61 SEK (from -2.17).

Outlook and guidance

• Strong momentum expected for the remainder of 2025, with all business areas performing well and long-term EBITA margin target of 8% seen as achievable after IT transformation.

• Rollout of new e-commerce system in H2 2025 anticipated to further drive sales and cost efficiency.

• Management remains cautiously optimistic for H2 2025, monitoring geopolitical and economic risks.