Go North Group (GONORTH) Q3 2025 earnings summary

Executive summary

• Q3 2025 saw a significant reduction in business scope, focusing on brands with the most momentum and potential.

• Workforce was reduced by over 40 employees, and operational systems were streamlined for cost savings.

• The company faced out-of-stock issues due to inventory challenges, impacting results, but inventory is now secured for Q4 and 2026.

• The court approved the reconstruction plan in October, but an appeal by the Swedish tax authority is pending, extending the reconstruction process.

Financial highlights

• Net sales for Q3 2025 were KSEK 96,308, down from KSEK 131,320 in Q3 2024.

• Adjusted EBITDA was KSEK -14,276, compared to KSEK 3,858 in Q3 2024.

• EBITA was KSEK -15,817, versus KSEK 2,331 in the prior year quarter.

• Cash flow from operating activities improved to KSEK -1,915 from KSEK -31,426 year-over-year.

• ROCE was -1.4%, down from 3.7% in Q3 2024.

Outlook and guidance

• The company is positioned for a leaner future with secured inventory and reduced overhead.

• The outcome of the reconstruction appeal will be decisive for future operations, with a judgement expected by late December 2025 or early January 2026.