Online Brands Nordic (OBAB) Q2 2025 earnings summary

Executive summary

• Net sales for Q2 2025 reached 98.1 MSEK, up 25.9% year-over-year, with own e-commerce sales growing 39.7% to 85.9 MSEK.

• Integration of acquired companies Getcamping and Reforma contributed 20.6 MSEK in quarterly sales.

• Strategic efficiency measures and system upgrades temporarily impacted profitability, but position the group for future growth.

• After the quarter, Tanrevel was acquired, strengthening the position in the beauty segment.

Financial highlights

• Gross profit for Q2 was 51.7 MSEK (48.9 MSEK), with a gross margin of 52.8% (down from 62.6% last year) due to lower-margin acquisitions.

• Adjusted EBITDA was -0.9 MSEK (4.3 MSEK), with an adjusted EBITDA margin of -0.9% (5.5%).

• Total result for the quarter was -10.8 MSEK (-1.6 MSEK), and EPS was -0.58 SEK (-0.07 SEK).

• Cash flow from operating activities was -9.0 MSEK (3.0 MSEK).

• Net debt at period end was 36.6 MSEK (34.8 MSEK).

Outlook and guidance

• Entering the seasonally strongest quarters (Q3 and Q4), with expectations of improved profitability.

• Efficiency measures and acquisitions are expected to drive higher growth and profitability.

• No formal sales or earnings guidance provided for the full year 2025.