Haypp Group AB (publ) (HAYPP) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you very much. Good morning everybody and welcome to our afternoon version of the Q2 2025 conference call. Today as opposed to this morning's version we're going to go for a slightly abbreviated version where we just focus on some key slides and the rest of the material is available within the deck and is available on recording on our platform as well. So going forward from here I'd like to start with slide number four and I'd like to focus on three key aspects of our operational highlights. Beginning first with our nicotine pouch Q2 volume which had -on-year growth of 23% on a -for-like basis and I would like to highlight that this doesn't reflect two key impacts on comparability which reduce the reported growth numbers. The first effect is the Easter effect and this particularly impacts our core markets. Easter in 2024 was in Q1 and it was in Q2 in 2025 which we highlighted in our Q1 presentation and this impacted growth by circa three percentage points. The second point I'd like to highlight is that in Q2 2024 it was an exceptional quarter driven by the initial Zin shortages in the US and much of the incremental traffic we received resulted in sales of non-Zin brands which grew over 50% quarter on quarter in Q2 24 versus Q1 24 and for more detail on that please refer to our Q2 24 presentation. So adjusting for these factors our nicotine pouch growth rates are revenue so revenue grew at roughly 20% so comparable to our Q1 and our last 12 months when we adjust for the Easter effect. And lastly I'd like to draw our attention to the material increase in our gross margin. Our business philosophy is built around sharing our economies of scale with our consumers in the form of superior convenience and the best value and despite aggressively moving forward on both o...