CDON AB (CDOAF) Q3 2025 Earnings Call Transcript

Hjalmar Jernstrom
DNB Carnegie Commissioned research study

Excellent afternoon, and welcome to the CDON Third Quarter 2025 Profits Call. My name is Hjalmar, and I operate at the bank as an expert. We are signed up with today by CEO, Fredrik Norberg; and CFO, Carl Andersson. Welcome, gentlemen. And we have a lot to discuss, so let’s dive right in.

Fredrik Norberg
Ceo

All right. Yes, I’m extremely delighted to report another strong quarter. And initially, let’s dig in a bit about CDON Group. We include CDON and Fyndiq. We have about 100 million yearly gos to, and we are running a property light scalable company design with an extremely effective working capital structure. And we are running in an appealing market with big prospective where we see that the market is extremely underpenetrated in the Nordic market compared to the remainder of the world. Checking out this quarter and summarizing it, we now are extremely delighted to state that we have 7 successive months of GMV development and 5 successive months of gross earnings after marketing development.

We still have the favorable result from our European merchants that we have actually been speaking about yet ahead of us. And in the quarter, we have actually likewise protected a capital injection of SEK 45 million that I will dig a bit deeper in. Checking out the difficult numbers, we grew our leading line sales GMV with 8% for the group compared to in 2015. Our primary KPI, our gross earnings after marketing, we grew much more with 12% compared to in 2015. And our outcome, our EBITDA is now SEK 11.5 million compared