Lightning Group (LIGR) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 reached 14,095 kSEK, up 12.2% year-over-year, with improved gross margin at 49.7% versus 46.1% last year.

• EBITDA was 409 kSEK (up from -68 kSEK), and net result improved to -275 kSEK from -655 kSEK.

• Strategic focus on cost control, efficiency, and product development supported positive operational momentum.

• Acquisition of MaSeTek AB signed in May to broaden offerings and strengthen Nordic market position.

Financial highlights

• EBITDA margin improved to 2.9% (from -0.5%); operating margin at -0.7% (from -4.3%).

• Cash flow for the quarter was -26 kSEK (down from 1,840 kSEK year-over-year).

• Solid equity ratio at 46.3% (down from 60.0% last year).

• Earnings per share before dilution: -0.019 SEK (vs. -0.036 SEK).

• Cash and credit facilities at period end: 4.3 MSEK; interest-bearing debt: 9.4 MSEK.

Outlook and guidance

• Management maintains a positive outlook, citing a strong order book and pipeline.

• No formal forecast provided; focus remains on organic and acquisition-driven growth.

• EBITDA margin target of 13% on annual basis, with current margin impacted by new subsidiary startup costs.