Söder Sportfiske (SODER) Q4 2025 earnings summary

Executive summary

• Net sales increased by 14.8% to 60.8 MSEK in Q4 2025, with both Swedish and international markets contributing to growth.

• Full-year net sales rose 4.8% to 243.6 MSEK, with organic growth matching at 4.8%.

• Own brands grew over 50% in Q4, driven by new product launches and strong customer engagement.

• Cost control measures led to reduced freight and transaction costs relative to sales, and personnel costs grew slower than revenue.

• EBITDA for Q4 was 0.1 MSEK (0.2% margin), impacted by higher marketing and system investments.

Financial highlights

• Q4 gross margin was 37.4% (37.3% last year); full-year gross margin was 39.2% (39.7%).

• Q4 EBITDA was 0.1 MSEK (0.3 MSEK last year); full-year EBITDA was 13.2 MSEK (15.2 MSEK).

• Q4 EBIT was -1.4 MSEK; full-year EBIT was 7.3 MSEK (3.0% margin).

• Q4 net income was 1.5 MSEK (0.17 SEK/share); full-year net income was 7.8 MSEK (0.92 SEK/share).

• Cash flow from operations in Q4 was 4.0 MSEK; year-end cash position was 39.1 MSEK.

Outlook and guidance

• Continued focus on cost discipline, expansion of own brands, and leveraging a refreshed team for future growth.

• Board proposes a dividend of 0.80 SEK per share, totaling approximately 6.8 MSEK.