Tokmanni Group (TOKMAN) Q3 2025 earnings summary

Executive summary

• Group revenue grew 4.0% year-over-year to EUR 432.8 million in Q3 2025, with like-for-like revenue up 0.7%.

• Tokmanni Segment achieved record results and EBIT, rebounding after a difficult first half, while Dollarstore Segment's result declined due to increased expenses from new store openings and transition challenges.

• Integration of Dollarstore continues, with synergy benefits exceeding €20 million annually.

• Board decided not to pay a second dividend instalment for FY2024 to strengthen the balance sheet and support growth investments.

Financial highlights

• Comparable gross profit was EUR 150.4 million (34.7% margin), up from 148.3, but gross margin declined due to heavy discounting in summer clearance sales.

• Comparable EBIT fell to EUR 26.4 million (6.1% margin), down from EUR 29.5 million a year ago.

• Diluted EPS was EUR 0.24, down from EUR 0.28 year-over-year.

• Cash flow from operating activities improved to EUR 31.8 million, up from EUR 8.1 million.

• Capital expenditure for the quarter was EUR 6.6 million, mainly for store network expansion and digital services.

Outlook and guidance

• 2025 revenue is guided at EUR 1,710–1,750 million, with comparable EBIT expected between EUR 85–95 million.

• Focus for the new strategy period (starting 2026) will be on profitability, sales growth, gross margin optimization, and cost control.

• No second dividend installment for FY2024 to strengthen the balance sheet and support growth investments.