Second quarter (1 Apr-30 Jun 2025)
- Net sales increased by 92 percent to MSEK 3,242 (1,685).
Currency-adjusted sales rose by 96 percent compared to the preceding year, with organic growth accounting for -3 percent and the acquisition of HMY contributing +99 percent. - Operating profit before depreciation and amortisation (EBITDA) excluding non-recurring items of MSEK -39 (0) amounted to MSEK 291 (212). 2)
- Operating profit amounted to MSEK 120 (150) and the operating margin was 3.7 percent (8.9). Operating profit was charged with non-recurring items of MSEK -39 (0). 2)
- Profit after financial items totalled MSEK 48 (143). Profit was charged with non-recurring items of MSEK -39 (0). 2)
- Profit after tax amounted to MSEK 21 (97). 2)
- Earnings per share before and after dilution totalled SEK 0.06 (0.44). 2)
- Cash flow from operating activities amounted to MSEK -53 (77).
Reporting period (1 Jan-30 Jun 2025)
- Net sales increased by 86 percent to MSEK 6,061 (3,261).
Currency-adjusted sales rose by 89 percent compared to the preceding year, with organic growth accounting for +3 percent and the acquisition of HMY contributing +86 percent. 1) - Operating profit before depreciation and amortisation (EBITDA) excluding non-recurring items of MSEK -94 (0) amounted to MSEK 584 (435). 1, 2)
- Operating profit amounted to MSEK 246 (311) and the operating margin was 4.1 percent (9.5). Operating profit was charged with non-recurring items of MSEK -94 (0). 1, 2)
- Profit after financial items totalled MSEK 121 (284). Profit was charged with non-recurring items of MSEK -97 (0). 1, 2)
- Profit after tax amounted to MSEK 62 (200). 1, 2)
- Earnings per share before and after dilution totalled SEK 0.20 (0.90). 1, 2)
- Cash flow from operating activities amounted to MSEK -27 (141).
- The equity/assets ratio at the end of the period was 33 percent (55).
- Net debt excluding lease liabilities amounted to MSEK 2,977 (199).
Pro forma combined financial information for the ITAB Group 3)
Due to the acquisition of HMY, which was completed on 31 January 2025, the 2025 reporting period and the comparative figures per quarter and for full-year 2024 are also presented on a pro forma basis to illustrate the financial effects of the acquisition. See Note 8 in the Interim Report for more information.
Second quarter | Reporting period | |||||
Outcome | Pro forma | Pro forma | ||||
| Apr-Jun | Apr-Jun |
| Jan-Jun | Jan-Jun |
|
Net sales | 3,242 | 3,433 | -6% | 6,550 | 6,280 | +4% |
Adjusted EBIT excl. non-recurring items 2) and amortisation of acquisition-related intangible assets |
|
|
|
|
|
|
Adjusted EBIT margin, % | 5.5 | 8.7 | 5.9 | 7.7 | ||
1) HMY is consolidated in the ITAB Group as of 1 February 2025 and is therefore included for five months (February-June) in the 2025 reporting period.
2) EBITDA, operating profit and profit after financial items for the second quarter of 2025 were charged with non-recurring items of MSEK -39. EBITDA/operating profit and profit after financial items for the 2025 reporting period were charged with non-recurring items of MSEK -94 and MSEK -97, respectively. Non-recurring items pertain primarily to acquisition and integration costs in conjunction with the acquisition of HMY.
3) Summary pro forma combined financial information for the ITAB Group including HMY for the 2025 reporting period (as of January 2025) as well as per quarter and full-year 2024. See Note 8 in the Interim Report for more information.
Events during the reporting period
- The acquisition of HMY was completed on 31 January 2025, and the company is consolidated in the ITAB Group as of 1 February 2025.
- In early April, the ITAB Group entered into an agreement with one of the largest grocery chains in the UK for the roll-out of new smart gates in over 200 stores in the second quarter. The total value of the contract was estimated to be at least MEUR 8.
- In mid-April, the ITAB Group signed an agreement with one of Europe's largest DIY, home improvement and gardening chains for the delivery of solutions for the establishment of five new stores in Italy. The implementation began in June 2025 and is expected to be completed in the first quarter of 2026. The total value of the contract is estimated to be at least MEUR 8.
- In May, ITAB acquired the remaining 82 percent of the shares in the technology and retail AI startup Signatrix GmbH, which thereby became a wholly owned subsidiary.
- During the second quarter, ITAB concluded the long-term incentive program for key individuals that was introduced in 2022. As a result, 2,054,985 Class C shares were converted to ordinary shares, and 1,043,671 ordinary shares were thereafter conveyed to the participants and the remaining 1,011,314 ordinary shares were conveyed on Nasdaq Stockholm to cover costs for the program.
President's comments -
Earnings in line with the last two years except for the historically strong second quarter of 2024
"In terms of earnings, we faced historically strong comparative figures for both ITAB and HMY in the preceding year, but with the exception of that, the earnings development during the quarter is in line with the outcome for the last two years. Since HMY became part of the new larger ITAB Group, the integration between the operations has proceeded better than expected. Colleagues in all parts of the Group have begun working together to jointly realise identified synergies. At the same time, we have succeeded in remaining focused on our daily business and our customers. Pro forma for the combined Group, sales increased to MSEK 6,550 and adjusted EBIT amounted to MSEK 388 for the first six months of the year," concludes President & CEO Andréas Elgaard.
Please read the full President's comments in the Interim Report.
Jönköping, 16 July 2025
ITAB Shop Concept AB (publ)
Webcast presentation on 16 July 2025 at 10:30 a.m. CEST
ITAB arranges a webcast presentation today, 16 July 2025 at 10:30 a.m. CEST, in which Andréas Elgaard, President & CEO, and Andreas Helmersson, Acting CFO, will present the Interim Report for the second quarter 2025 and answer any subsequent questions.
To participate via webcast - please use the weblink below. Via the webcast you are able to ask questions in writing.
https://itab-shop-concept.events.inderes.com/q2-report-2025
To participate in the teleconference, please register via the weblink below. After registration you will be provided phone numbers and a conference ID to access the conference call. You can ask questions verbally via the teleconference.
https://events.inderes.com/itab-shop-concept/q2-report-2025/dial-in
The information in this report is such that ITAB Shop Concept AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact persons below, at 8:00 a.m. CEST on 16 July 2025.
This report is in all respects a translation of the Swedish original Interim Report. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.
For further information, please contact:
Andréas Elgaard, President & CEO
Telephone: +46-732 32 16 35
Mats Karlqvist, Head of Investor Relations
Telephone: +46-70 660 31 32
ITAB Shop Concept AB (publ), Box 9054, SE-550 09 Jönköping, Sweden
itab.com, itabgroup.com
At ITAB Group we help customers turn brand experience into physical reality through our know-how, solutions and eco-system of partners. By co-creating efficient retail solutions that deliver convenient and inspiring consumer experiences, we create value-based outcomes for our customers that help drive measurable results and drive returns and benefits in the short, mid and long-term. The complete offer includes consultative design services, custom-made interiors, solutions for self-service and -checkouts, smart gates and guidance solutions, traditional checkouts, professional lighting systems, and interactive digital solutions for the physical store. ITAB Group has annual sales of approximately SEK 13 billion and approximately 5,400 employees. The ITAB share is listed on Nasdaq Stockholm.
