Umida (UMIDA) Q2 2025 earnings summary

Executive summary

• Achieved 45% sales growth in Q2 2025 year-over-year, with net sales ex. excise taxes at 23,311 KSEK, driven by strong demand in grocery retail and successful campaigns for Joluca and Ekobryggeriet.

• Gross profit more than doubled to 9,017 KSEK in Q2, with gross margin improving to 39% from 27% last year.

• EBITDA turned positive at 652 KSEK in Q2 and 1,320 KSEK for H1, reflecting higher sales volumes and improved margins.

• Operating loss narrowed to -404 KSEK in Q2 and -794 KSEK for H1, with net loss after tax at -1,023 KSEK in Q2 and -1,642 KSEK for H1.

• Cash flow from operations improved significantly, reaching -1,577 KSEK in Q2 and 1,604 KSEK for H1.

Financial highlights

• Net sales ex. excise taxes grew 45.3% in Q2 and 41.5% in H1 year-over-year.

• Gross margin reached 38.7% in Q2 and 39.1% in H1, the highest for the period.

• EBITDA improved from -1,903 KSEK to 652 KSEK in Q2 and from -1,540 KSEK to 1,320 KSEK in H1.

• Equity increased to 12,932 KSEK as of June 30, 2025, with a solid equity ratio of 23%.

• Cash and cash equivalents stood at 1,932 KSEK at period end.

Outlook and guidance

• Continued focus on expanding Joluca, including first international launch in Spain in Q3 2025 and planned launches in Norway and Finland in 2026.

• Ongoing investments in marketing and product development expected to drive further growth, with no immediate need for additional liquidity.

• New energy drinks under Joluca and further expansion of Ekobryggeriet and Systembolaget listings planned for H2 2025.