Precio Fishbone (PRCO) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were SEK 43.6 million, down 7.6% year-over-year, with EBITA of SEK 1.9 million, a 61.2% decrease.

• EBITA margin fell to 4.3% from 10.1% in Q1 2024; net income after tax was SEK 0.4 million, down from SEK 4.0 million.

• Cash flow from operations was SEK 2.6 million, and the board proposes a dividend of SEK 0.45 per share for 2024.

• Market conditions remain challenging, especially for NGO Online due to the loss of USAID funding, while Digital Journey showed improved activity.

Financial highlights

• Revenue: SEK 43.6 million (Q1 2024: SEK 47.2 million); EBITA: SEK 1.9 million (Q1 2024: SEK 4.8 million).

• EBIT: SEK 1.8 million (Q1 2024: SEK 4.8 million); net income after tax: SEK 0.4 million (Q1 2024: SEK 4.0 million).

• Earnings per share: SEK 0.05 (Q1 2024: SEK 0.44); cash flow from operations per share: SEK 0.28 (Q1 2024: SEK 0.72).

• Total cash flow: SEK -2.0 million (Q1 2024: SEK -24.3 million); liquidity at period end: SEK 12.3 million.

• Equity at period end: SEK 160.1 million; equity ratio: 74.1% (Q1 2024: 77.3%).

Outlook and guidance

• Uncertainty in the global economy is expected to continue impacting customers and business.

• No new NGO Online customers in Q1; international expansion plans paused due to sector instability.

• Digital Journey segment expects continued consultant growth in Q2, especially in Stockholm and Gothenburg.

• Kaskelot/Valghalla platform recurring revenues expected to increase from Q2 as more municipalities join.