WS WeSports Group (WSG) Q2 2025 earnings summary

Executive summary

• Net sales grew by 28.1% year-over-year in Q2 2025, reaching SEK 761.4 million, with organic growth at 17.5%.

• Adjusted EBITA rose 35% to SEK 56.9 million, with a record adjusted EBITA margin of 7.5%.

• Four acquisitions were completed in the quarter, strengthening positions in cycling, hockey, and winter sports.

• The group continues to gain market share, especially in running and cycling, and delivered its strongest first half-year in sales and profit.

Financial highlights

• Adjusted gross profit increased to SEK 276.8 million, though the adjusted gross margin declined to 36.3% from 38.6% year-over-year.

• Adjusted EBIT increased 38% to SEK 53.3 million, with an adjusted EBIT margin of 7.0%.

• Profit for the period was SEK 22.5 million, up from SEK 19.5 million in Q2 2024.

• Cash flow from operating activities was SEK 97.2 million, up from SEK 88.0 million.

• Earnings per share were SEK 12.07, slightly down from SEK 12.33 year-over-year.

Outlook and guidance

• Management sees strong opportunities for continued organic growth and a focused M&A agenda.

• The sports and leisure retail market remains large and fragmented, supporting further expansion.

• Structural trends such as increased health awareness and sports participation are expected to drive demand.