Bokusgruppen (BOKUS) Q4 2025 earnings summary

Executive summary

• EBITA grew by 32% for 2025, driven by both organic growth in Akademibokhandeln and acquisitions in Bokus, with strong margin improvements and high customer satisfaction.

• Net sales increased by 8.3% year-over-year to 2,154.8 MSEK, with both segments contributing to growth.

• Net profit after tax more than doubled year-over-year, and EBITA margin made significant progress toward the 8% long-term goal.

• Online sales for Akademibokhandeln rose 14.4% in Q4, following the launch of a new e-commerce platform.

• Two of three long-term financial targets were exceeded: sales growth and ROCE.

Financial highlights

• Q4 2025 revenue increased by 5.4% year-over-year to 760.7 MSEK; full-year revenue up 8.3% to 2,154.8 MSEK.

• Q4 EBITA reached 117.9 MSEK (up 2.0%); full-year EBITA was 158.5 MSEK (up 31.8%).

• Q4 net profit after tax rose 31.1% year-over-year; full-year net profit after tax up 110% to 88.1 MSEK.

• Gross margin improved by 1.4 percentage points in Q4 and 2.8 points for the year.

• EBITA margin for 2025 reached 7.4%, up from 6.0% in 2024.

Outlook and guidance

• Strong momentum expected to continue into 2026, supported by a stronger economic outlook and ongoing rollout of the new e-commerce platform.

• Continued focus on cost efficiency and digital transformation, with Bokus to migrate to the new e-commerce platform in 2026.

• Board proposes a dividend of 4.00 SEK per share, a 10% increase from the previous year.

• Management remains cautious due to global economic uncertainty and geopolitical risks.

• Government support for physical books and school library legislation expected to benefit the business.