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Guldbrev (GULD) investor relations material
Guldbrev Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
- Achieved strong growth and profitability in Q3 2025, reflecting a scalable digital business model and effective market expansion across the Nordics. 
- Customer volumes and received gold increased steadily, supported by successful marketing campaigns and improved operational efficiency. 
- Entered a new phase post-listing on Nasdaq First North, with a focus on further value creation and expansion, including ongoing testing in the German market. 
Financial highlights
- Q3 2025 net revenue rose 124% year-over-year to 103.5 MSEK; EBITDA up 148% to 28.0 MSEK. 
- Q3 operating margin reached 25.3% (up from 20.4%); net income after tax increased to 20.9 MSEK (from 7.5 MSEK). 
- YTD 2025 net revenue up 138% to 283.6 MSEK; EBITDA up 169% to 76.0 MSEK. 
- YTD net income after tax increased to 55.9 MSEK (from 17.6 MSEK); operating cash flow YTD at 50.5 MSEK (from 14.7 MSEK). 
- Maintained strong liquidity with 9.9 MSEK in cash at quarter-end. 
Outlook and guidance
- Focus remains on broadening marketing, developing digital platforms, and strengthening brands in core and new markets. 
- German market expansion continues on a small scale, with ongoing optimization and long-term evaluation. 
Next Guldbrev earnings date

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