JLT Mobile Computers (JLT) Q2 2025 earnings summary

Executive summary

• Order intake rose 48% year-over-year to MSEK 81.5, driven by strong US deals in Q1, but Q2 saw cautious customer behavior due to US tariff announcements.

• Net sales increased 9% year-over-year to MSEK 75.8 for H1 2025, with a 24% rise in Q2 compared to the same quarter last year.

• Operating profit for H1 was MSEK -0.4, down from MSEK 0.4 last year, mainly due to lower gross margin from currency effects.

• Cash flow was negative at MSEK -5.5 for H1, impacted by high delivery volume at quarter-end; liquidity improved post-period.

Financial highlights

• Gross margin declined to 35.0% (from 43.5% year-over-year) for H1, and to 32.2% in Q2 (from 42.8%), mainly due to USD weakness and inventory revaluation.

• EBITDA for H1 was MSEK 0.0, down from MSEK 1.3 last year.

• Profit after tax for H1 was MSEK -0.4, compared to MSEK 0.2 last year.

• Earnings per share for H1 was SEK -0.01, compared to SEK 0.01 last year.

• Equity at period-end was MSEK 44.6, with solidity at 50%.

Outlook and guidance

• Gross margin expected to recover in H2 if macroeconomic conditions remain stable.

• New US tariffs from August 7 may impact future deliveries; mitigation efforts include supply chain reviews and customer renegotiations.

• Focus remains on expanding in Europe and new industry segments, with continued investment in marketing and innovation.