Citira (CITRA) Q2 2025 earnings summary

Executive summary

• Profitability improved significantly in H1 2025, driven by acquisitions and gross margin initiatives.

• Total reported revenues rose 129% in Q2 and 118% in H1, mainly due to acquisitions.

• Like-for-like (LFL) revenues declined slightly due to subdued demand, but LFL adjusted EBITDA increased.

• Seven acquisitions completed in H1, with further deals announced post-period.

Financial highlights

• Q2 reported revenue: SEK 663.0m (up 129% YoY); H1: SEK 1,073.4m (up 118% YoY).

• Q2 adjusted EBITDA: SEK 54.0m (up from SEK 12.7m); H1: SEK 20.9m (up from SEK 9.9m).

• LFL Q2 revenue: SEK 887.3m (down 4% YoY); LFL Q2 adjusted EBITDA: SEK 109.8m (up 10% YoY).

• H1 profit before tax: SEK -117.4m (vs. -46.4m YoY), impacted by higher interest expenses.

• Net debt at period end: SEK 1,407.8m.

Outlook and guidance

• Expecting gradual normalization of demand ahead of winter, driven by replacement needs.

• Focus remains on profitable organic growth and further business development.