BTS Group AB (publ) Interim report January-June 2025

P R E S S R E L E A S E

Stockholm, August 22, 2025

New leadership for BTS North America - strong organic growth in BTS Europe and BTS Other markets

April 1 - June 30, 2025

• Net sales amounted to MSEK 721 (730). Currency adjusted growth was 7%, whereof 2% was organic.
• EBITA decreased 23% to MSEK 84 (110).
• EBITA margin was 11.7 (15.1) %.
• Profit after tax decreased 35% to MSEK 39 (60).
• Earnings per share decreased 35% to SEK 2.03 (3.11).

January 1 - June 30, 2025

• Net sales amounted to MSEK 1,368 (1,348). Currency adjusted growth was 5%, whereof 2% was organic.
• EBITA decreased 15% to MSEK 143 (169).
• EBITA margin was 10.5 (12.5) %.
• Profit after tax amounted to MSEK 65 (114). Excluding reversed provisions of earn-out 2024, the profit after tax decreased 24% to MSEK 65 (85). ¹⁾
• Earnings per share amounted to SEK 3.35 (5.86). Excluding reversed provision of earn-out 2024, earnings per share decreased 24% to SEK 3.35 (4.39).

"BTS North America implements a new profitability and growth strategy under new leadership - BTS Europe and BTS Other markets showed strong organic growth in the quarter."
Jessica Skon, CEO of BTS Group AB

Outlook 2025
As communicated in a separate press release on August 4, we estimate that the result (EBITA) for 2025 will be worse than in 2024.

FINANCIAL SUMMARY

MSEK	Apr-Jun 2025	Apr-Jun 2024	Jan-Jun 2025	Jan-Jun 2024	Jul-Jun 2024/2025	Jan-Dec 2024
Net sales	721	730	1,368	1,348	2,821	2,802
Currency adjusted growth	7%	3%	5%	5%	5%	5%
EBITA	84	110	143	169	339	365
EBITA margin	11.7%	15.1%	10.5%	12.5%	12.0%	13.0%
EBIT	65	95	106	138	266	298
EBIT margin	9.0%	13.0%	7.7%	10.2%	9.4%	10.6%
Profit after tax	39	60	65	114	338	387
Profit after tax, excl. reversed earn-out provision 1)	39	60	65	85	171	191
Cash flow from operating activities	-40	-10	-97	17	272	386
Earnings per share, SEK 2)	2.03	3.11	3.35	5.86	17.42	19.93
Earnings per share, SEK, excl. reversed earn-out provision 1) 2)	2.03	3.11	3.35	4.39	8.80	9.84
Net debt (+) / net cash (-)	123	-76	123	-76	123	-282
Number of employees (EOP)	1,1723)	1,099	1,1723)	1,099	1,1723)	1,172

1) During the first quarter 2024, a provision of earn-out related to the earlier acquisition of RLI was reversed, impacting the net financial items positively by MSEK 29 for the first half of the year. For increased comparability, the 2024 profit before and after tax in this interim report is presented, including and excluding this reversal.
2) Before and after dilution of shares.
3) Acquisitions since the end of the second quarter previous year, have brought in 103 new employees.

For more information, please contact:

Michael Wallin
Head of investor relations
BTS Group AB
[e-mail]
[phone]
[phone]

This information is information that BTS Group AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST on August 22, 2025.

About BTS Group

BTS is a global professional services firm headquartered in Stockholm, Sweden. BTS has about 1,200 professionals in 38 offices located on six continents. BTS competes in both talent and HR consulting as well as the traditional consulting markets. BTS's services support a broad range of client challenges including top-to-bottom and on-demand leadership development, talent selection and readiness, strategy creation and strategy implementation, as well as culture and broad-scale change. For over 35 years, BTS has been focused on the people-side of change and on powering better performance using proprietary simulation, learning, coaching, and assessment methodologies. We partner with nearly 1,200 organizations, including over 40 of the world's 100 largest global corporations.

BTS is a public company listed on the Nasdaq Stockholm exchange and trades under the symbol BTS B.

For more information, please visit www.bts.com.