Interim Report Q2: Consistent growth despite challenging comparables

April – June 2025

• Net sales increased by 17 per cent on a like-for-like (LFL*) basis in constant currency (-2.3 per cent reported) to SEK 921.5mn (942.8). In constant currency, net sales increased by 1 per cent. Sales in the quarter were affected by the timing of Easter and a tough comparison with the year ago period in the US. Haypp’s US sites in Q2 2024 had exceptional traffic due to a wide-spread market shortage of Zyn that led to a substantial rise in sales of non-Zyn products, +121% year-over-year.
• 23 per cent LFL* (3 per cent reported) volume growth in the nicotine pouch category during the quarter.
• The gross margin amounted to 19.2 per cent (14.3) a new high.
• Adjusted EBITDA amounted to SEK 60.3mn (51.5), corresponding to an adjusted EBITDA margin of 6.5 per cent (5.5).
• Adjusted EBIT amounted to SEK 38.3mn (34.4), corresponding to an adjusted EBIT margin of 4.2 per cent (3.7).
• Operating profit totaled SEK 10.4mn (9.6), including items affecting comparability of SEK -18.0mn (-14.8).
• Profit for the quarter amounted to SEK 8.6mn (0.0).
• Earnings per share before dilution amounted to SEK 0.28 (0.00).
• Number of orders decreased to 1,170 thousand (1,252) with an average order value of SEK 701 (699).
• Active consumers were 536 thousand (591) during the quarter.

*LFL measurement shows growth rates excluding the impact of the Zyn shortage, discontinuation of tobacco sales and state closures in the US

Net sales for the second quarter increased by 17 per cent on a LFL basis to SEK 922mn (943). In constant currency, net sales increased by 1 per cent. Gross Profit increased to SEK 177mn (135), corresponding to a gross margin of 19.2 per cent (14.3). Adjusted EBIT for the second quarter increased to SEK 38mn (34). The adjusted EBIT margin increased to 4.2 per cent (3.7).

“We enter the second half of the year with strong underlying momentum, as we continue to execute on the strategic priorities discussed at our April 2025 Capital Markets Day”, says Haypp Groups CEO Gavin O’Dowd.

The full Q2 report is attached in its entirety to this press release and on the company´s website: https://hayppgroup.com/investor-relations/reports-and-presentations/

Haypp Group will hold a webcast conference call in English at 09.00 am CEST today. Haypp Group will be represented by President and CEO Gavin O´Dowd and CFO Peter Deli, who will present the interim report and answer questions. To participate or for further information – https://haypp-group.events.inderes.com/q2-report-2025

For more information and contact
Markus Lindblad
Head of External Affairs:
+46(0)708153983
[email protected]

Erik Bloomquist
Head of Investor Relations:
+44(0)7525421916
[email protected]

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