Umida (UMIDA) Q1 2025 earnings summary

Executive summary

• Net sales excluding excise taxes grew 37% year-over-year to 17,988 KSEK in Q1 2025, driven by strong performance in Joluca and Ekobryggeriet brands.

• Gross profit increased 80% to 7,124 KSEK, with gross margin improving to 39.6% from 30% last year, reflecting a favorable product mix.

• EBITDA rose to 1,299 KSEK (up 258%), and operating profit turned positive at 241 KSEK compared to -727 KSEK in Q1 2024.

• Result after tax was -603 KSEK, but would have been positive excluding currency effects from a strengthened SEK.

• Cash flow from operations improved to 3,181 KSEK from -1,567 KSEK year-over-year.

Financial highlights

• Joluca accounted for 43% of net sales (~8 MSEK), establishing itself as the 7th largest energy drink brand in Swedish retail and convenience.

• Ekobryggeriet products contributed 5,190 KSEK, up 27% year-over-year; own brands made up 94% of total net sales.

• Operating expenses (excl. depreciation) increased 42% due to sales and marketing investments in Joluca and Ekobryggeriet.

• Bank balances at quarter-end were 2,937 KSEK, and equity stood at 13,149 KSEK (up from 4,266 KSEK last year).

• Solidarity improved to 26% from 8% year-over-year.

Outlook and guidance

• Management expects continued growth, with focus on expanding Joluca and leveraging recent acquisitions for further market penetration.

• The acquisition of The Healthy Brand Company (THBC) is expected to provide a new growth platform and broaden the product portfolio.

• Future growth to be driven by both organic initiatives and additional strategic acquisitions.