Go North Group (GONORTH) Q1 2025 earnings summary

Executive summary

• Net sales declined to KSEK 122,370 in Q1 2025 from KSEK 136,561 year-over-year, impacted by Amazon listing removals and supply chain disruptions.

• Adjusted EBITDA was negative at KSEK -1,157, further deteriorating from KSEK -696 in Q1 2024.

• Ongoing company reconstruction and complex entity structure continue to burden operations and leadership focus.

Financial highlights

• EBITA for Q1 2025 was KSEK -2,379, compared to KSEK -1,221 in Q1 2024.

• Cash flow from operating activities was KSEK -8,981, down from KSEK 8,413 in the prior year, mainly due to decreased current liabilities.

• ROCE improved to -0.4% from -16.5% year-over-year, reflecting prior year impairments.

• Earnings per share for Q1 2025 was 0.01, compared to -128.0 in Q1 2024.

Outlook and guidance

• Gross margin expected to face pressure from increased tariffs and currency headwinds, with some mitigation through cost and price adjustments.

• Weaker USD negatively affects revenue but may reduce costs over time; gross margin impact expected to be most severe in H1 2025.

• Reconstruction process remains critical for future operational and financial restructuring.