APRIL - JUNE
- Revenue amounted to SEK 1,118 million (1,225 million April-June 2024), a decrease of 9%. Organically, revenue decreased by 8%.
- Adjusted EBITA amounted to SEK 37 million (41), and the corresponding margin was 3,3% (3.3).
- Operating profit amounted to SEK 36 million (30), including items affecting comparability of SEK 0 million (-8).
- Net income for the period amounted to SEK -10 million (-36).
- Earnings per share before and after dilution amounted to SEK 0.00 (-0.01).
- Cashflow from operating activities amounted to SEK 20 million (0).
JANUARY - JUNE
- Revenue amounted to SEK 2,234 million (2,512 million January-June 2024), a decrease of 11%. Organically, revenue decreased by 10%.
- Adjusted EBITA amounted to SEK 75 million (88), and the corresponding margin was 3.4% (3.5).
- Operating profit amounted to SEK 72 million (74), including items affecting comparability of SEK 1 million (-9).
- Net income for the period amounted to SEK -32 million (-62).
- Earnings per share before and after dilution amounted to SEK -0.01 (-0.01).
- Cash flow from operating activities amounted to SEK 14 million (-50).
Significant events during the reporting period
- Cabonline continues to provide school transport in Sigtuna in autumn term 2025.
- FixuTaxi - part of Cabonline - wins key contract for Helsinki Central Station.
- Cabonline deferred certain interest payments for April in accordance with the terms and conditions of its sustainability-linked notes.
- New partnership with Finnair - Cabonline customers can collect Avios points on every taxi ride.
Significant events after the end of the reporting period
- Cabonline defers certain interest payments for July in accordance with the terms and conditions of its sustainability-linked notes.
- Flygtaxi - part of Cabonline - selected as preferred partner in SAS Transfer.
- Cabonline to continue delivering trusted service trips in Örebro.
CEO's comment
Significant price pressure in public procurement
During the second quarter, competition in public procurement increased. In line with our strategy, we continue to prioritise quality and long-term sustainability.
We implemented our new communication platform, Hello, in the regions South, Stockholm and West to strengthen dialogue with drivers and transporters. Our new booking and dispatch system, iCabbi, was fine-tuned and we launched updated applications for drivers and passengers. Over time, the project is expected to deliver significant efficiency gains and an improved customer experience.
During the quarter, we also continued to streamline operations. These measures are expected to result in lower personnel costs and reduced external expenses, including consultancy costs, in the latter part of 2025 with further effects expected in 2026.
At Almedalen, we highlighted ways to improve the procurement of care-related travel - with a focus on quality, sustainability and secure working conditions. We emphasised that experience, accountability and delivery capacity should carry greater weight than price alone.
Results in brief
In the second quarter, Cabonline's revenue amounted to SEK 1,118 million compared with SEK 1,225 million in the same period last year, an organic decrease of 8%. Adjusted EBITDA totalled SEK 54 million, a decrease of 4% compared to last year. The EBITDA margin reached 4.8%, compared to 4.6% last year.
Performance by business segment
In the public segment (B2P), we signed an agreement to continue operating school transport in Sigtuna during the appeal period. It is also gratifying that customer satisfaction with drivers reached a new record high in ANBARO, the national survey of perceived quality in elderly and patient service trips.
Flygtaxi became Preferred Partner to SAS through a new Nordic agreement, further strengthening our offering in the air travel segment. Combined with the partnership with Finnair, launched in the second quarter, we now have a strong presence with the leading airlines in the Nordic region. The segment is still characterised by a high market share and stable margins. The number of trips declined by 3%, in line with the development in domestic travel.
Business travel (B2B) volumes decreased year-on-year overall, reflecting continued market oversupply and price pressure. However, Sweden's West region and Norway's West and North regions delivered strong growth.
Private travel (B2C) volumes also decreased year-on-year overall. However, we recorded growth in Norway as well as a positive effect in Helsinki following the implementation of the agreement with the central station. Several well-received collaborations were carried out, including Elitloppet at Solvalla, the National Day celebrations at the Royal Palace, and the Summer Club in Malmö. To stimulate demand and strengthen the brand, summer campaigns were launched at eleven strategically selected airports and central stations across the Nordic region.
Sustainability and responsibility
The targets linked to our sustainability-linked bonds were exceeded by a wide margin: 72% of passenger cars were powered by electricity or biogas, compared with the 2025 target of 50%. The share of electric vehicles reached 46% of the total fleet.
Looking ahead
We are confident in our ability to deliver further efficiencies as we continue our platform upgrades and streamlining our operations. In the next quarter, we will implement iCabbi in the regions North, Halmstad and Jönköping. In parallel, Hello will also be rolled out in the regions North and Central. Efficiency across all our operations remains a priority, while we intensify our efforts to increase travel through our commercial initiatives.
Our transformation journey has been marked by several significant advances. I look to the future with confidence and wish to express my gratitude to our employees, drivers and operators for your commitment, as well as to our customers and investors for your continued trust.
Stockholm August 2025
Charlotta Söderlund
CEO and President
