Umida (UMIDA) Q3 2025 earnings summary

Executive summary

• Q3 2025 saw a 24.6% year-over-year decline in net sales (excl. excise taxes) to 19,011 KSEK, mainly due to prior year pipeline fill for Joluca and lower sales of Elin.

• Joluca's first year was a success, generating over 48 MSEK in sales and becoming the 7th largest brand in its category.

• Strategic investments focused on expanding Joluca, with new flavors and international launches in Spain and upcoming in Finland and Norway.

Financial highlights

• Net sales (excl. excise taxes) for Q3: 19,011 KSEK (down from 25,199 KSEK); for 9M 2025: 60,310 KSEK (up from 54,373 KSEK).

• Gross profit for Q3: 7,443 KSEK (down from 10,666 KSEK); gross margin: 39.2% (vs. 42.3%).

• EBITDA for Q3: -2,050 KSEK (down from 3,257 KSEK); for 9M: -730 KSEK (down from 1,717 KSEK).

• Net result after tax for Q3: -3,922 KSEK (vs. 1,499 KSEK); for 9M: -5,533 KSEK (vs. -1,302 KSEK).

• Cash flow from operations for Q3: 1,028 KSEK (down from 6,292 KSEK); for 9M: 2,632 KSEK (up from -911 KSEK).

Outlook and guidance

• Management expects a return to positive EBITDA in Q4 2025.

• Joluca's international expansion and new product launches are expected to drive significant sales growth in 2026.

• Ongoing evaluation of divestments to free up capital for further expansion and acquisitions.