CDON Ab (CDON) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to the CDO on the third quarter 2025 earnings call. My name is Hjalmar and I work at the bank as an analyst. We are joined today by CEO Fredrik Norberg and CFO Karl Andersson. Welcome, gentlemen. Thank you. And we have a lot to talk about, so let's dive right in. All right. Yes, I'm very happy to report another strong quarter. First, let's dig in a little bit about Sirion Group. We consist of Sirion and Fyndik. We have about 100 million annual visits and we are operating an asset-light, scalable business model with a very efficient working capital structure. And we are operating in an attractive market with large potential, where we see that the marketplace is very underpenetrated in the Nordic market compared to the rest of the world. Looking into this quarter and summarizing it, we now are very happy to say that we have seven consecutive months of GMV growth and five consecutive months of gross profit after marketing growth. We still have the positive effect from our European merchants that we have been talking about yet ahead of us. And in the quarter, we have also secured a capital injection of 45 million SEK that I will dig a little bit deeper in. Looking into the hot numbers, we grew our top line sales, GMV, with 8% for the group compared to last year. Our main KPI, our gross profit after marketing, we grew even more with 12% compared to last year. And our result, our EBITDA, is now 11.5 million compared, more than doubling than last year. And worth noting is that it's even larger than the total Q4 EBITDA last year. Looking at left side, we can see the growth of GMV. We had a horrible start of the year, January and February, and then we have hit a more solid growth journey for the rest of the year so far. I'm happy to see also that bo...