Lyckegård Group (LYGRD) Q1 2025 earnings summary

Executive summary

• Returned to profit in Q1 2025, with 15% organic growth for comparable units year-over-year.

• EBITA improved to 1,757 TSEK from -8,478 TSEK year-over-year; EBITA for comparable units was -5,824 TSEK in Q1 2024.

• Gross margin rose to 38% from 31% year-over-year, driven by product mix and cost control.

• Strong order backlog and no signs of demand slowdown; cost base reduced by over 10% for comparable units.

Financial highlights

• Net sales: 42,757 TSEK, up 3% reported and 15% organic for comparable units year-over-year.

• EBITA: 1,757 TSEK (vs. -8,478 TSEK); EBIT: -1,327 TSEK (vs. -11,563 TSEK); Net result: -2,610 TSEK (vs. -50,984 TSEK).

• Cash flow from operations: -1,858 TSEK (vs. 3,518 TSEK); total cash flow: 3,014 TSEK (vs. -1,899 TSEK).

• Equity at period end: 20,248 TSEK (vs. 5,994 TSEK); equity ratio: 16% (vs. 4%).

• Earnings per share: -0.03 SEK (vs. -1.17 SEK) before dilution.

Outlook and guidance

• Management remains optimistic, citing a strong order book and continued demand.

• Strategic focus on profitable growth, margin improvement, and cost discipline will continue.

• Financial targets: annual sales growth ≥10%, EBITA margin ≥8%, net debt/EBITA ≤2.5x long-term.