Stille (STIL) Q1 2025 earnings summary

Executive summary

• Q1 2025 saw net sales of MSEK 129.3, down 7.4% year-over-year, due to temporary delivery restrictions and the phase-out of non-strategic products, but demand and order intake remained strong.

• Gross margin improved to 51.1% from 48.6% year-over-year, driven by better pricing, favorable geographic mix, and portfolio rationalization.

• EBITDA before non-recurring items was MSEK 25.2 (margin 19.5%), down from MSEK 33.7 (24.1%) last year, mainly due to lower sales and higher sales costs.

• Cash flow from operating activities improved to MSEK 14.1 from -10.9, reflecting focus on profitability and efficiency.

• Earnings per share rose to SEK 1.63 from SEK 1.37 year-over-year.

Financial highlights

• Net sales: MSEK 129.3 (139.7), -7.4% year-over-year; organic growth -7.4%.

• Gross profit: MSEK 66.0 (67.9); gross margin 51.1% (48.6%).

• EBITDA before non-recurring items: MSEK 25.2 (33.7); margin 19.5% (24.1%).

• EBIT before non-recurring items: MSEK 17.9 (27.0); margin 13.8% (19.3%).

• Net profit: MSEK 14.6 (12.3); EPS SEK 1.63 (1.37).

Outlook and guidance

• Strong order intake and operational improvements support confidence in meeting financial targets for 2025.

• Full recovery and growth expected in the second half of 2025 as supply chain and capacity measures take effect.

• No internal limitations identified for achieving financial targets.