Sweden Buyersclub (BUY) Q2 2025 earnings summary

Executive summary

• Net revenue increased by 26% year-over-year to 22.8 MSEK for Q2 2025, despite a challenging Swedish e-commerce market.

• EBITDA improved to 0.4 MSEK from 0.0 MSEK year-over-year, with an EBITDA margin of 2%.

• Net result after tax was -0.8 MSEK, an improvement from -1.0 MSEK in Q2 2024.

• Membership revenues declined by 3% to 4.9 MSEK, attributed to strategic choices and temporary effects.

• Storefront and external channel sales contributed 5.7 MSEK, up from 3.1 MSEK last year.

Financial highlights

• Net revenue: 22.8 MSEK (up 26% year-over-year).

• EBITDA: 0.4 MSEK (0.0 MSEK last year); EBITDA margin: 2% (0%).

• EBIT: -0.6 MSEK (-0.8 MSEK last year); EBIT margin: -2%.

• Net result after tax: -0.8 MSEK (-1.0 MSEK last year).

• Cash flow from operations: -1.0 MSEK (0.0 MSEK last year).

Outlook and guidance

• Management expects a return to membership revenue growth in H2 2025.

• Focus areas for H2: expanding supplier base, strengthening the technical platform, and improving warehouse and customer service efficiency.

• 2025 targets: revenue of 120–150 MSEK and EBITDA of 5–8 MSEK.