Unlimited Travel Group UTG (UTG) Q1 2025 earnings summary

Executive summary

• Revenue increased by 10.5% to SEK 173.7m in Q1 2025 compared to SEK 157.2m in Q1 2024, driven by strong demand in private travel and events.

• EBITA was SEK -6.1m (SEK -0.4m), impacted by unrealized currency effects; adjusted EBITA was SEK -3.2m (SEK -1.5m).

• Booking levels for 2025 as of April 30 were 11.6% higher year-over-year, with private travel up 21.3% and events up 23%.

• Net result per share was SEK -0.69 (SEK -0.29).

Financial highlights

• Gross margin was 18.0% (20.3%), adjusted for currency effects 19.6% (19.6%).

• Net cash position at period end was SEK 101.8m (SEK 62.7m at Dec 31, 2024).

• Cash flow from operations was SEK 41.8m (SEK 66.9m in Q1 2024).

• Equity attributable to parent company shareholders was SEK 35.4m (SEK 44.0m), with a group equity ratio of 12.2% (17.3%).

• Number of employees increased to 120 (106 in Q1 2024).

Outlook and guidance

• Management expects continued strong demand for quality travel and events, supported by a robust booking pipeline and increased purchasing power for Swedish travelers.

• Despite a weaker Q1 result, current conditions indicate good prospects for a successful 2025.