TapTravel Nordic (TAPTRAVEL) Q1 2025 earnings summary

Executive summary

• Achieved ongoing cost reductions and increased digital customer interaction, with over 85% of new customer implementations converted to digital platforms.

• Productivity gains and organizational streamlining continued, with further FTE and office cost reductions expected to be realized in Q2–Q3 2025.

• Business travel sales were slightly below budget due to lower demand for long-haul travel, especially to North America, while intra-European and domestic travel remained strong.

• The Carbon Removal/Credit product offering was well received, supporting customers' net zero CO2 goals.

Financial highlights

• Q1 2025 total revenue was KSEK 244,092, down from KSEK 247,959 in Q1 2024.

• EBITDA for Q1 2025 was KSEK 14,542, up from KSEK 8,965 in Q1 2024.

• Operating result improved to KSEK -3,513 from KSEK -10,279 year-over-year.

• Cash flow for the period was KSEK 6,889, compared to KSEK 7,752 in Q1 2024.

• Cash and cash equivalents at period end were KSEK 18,627, up from KSEK 8,155 a year earlier.

Outlook and guidance

• Lower demand for long-haul travel, particularly to North America, is expected to persist into Q2 2025.

• Additional cost savings from FTE and office space reductions will be fully realized in Q2–Q3 2025.