Q3 2025 Cdon AB Earnings Call Transcript

Oct 23, 2025 / 12:00 PM GMT

Release Date Price: €3.9

Transcript

Key Points

Positve

Cdon AB (OSTO:CDON) reported 7 consecutive months of GMV growth and 5 consecutive months of gross profit after marketing growth.
The company secured a capital injection of SEK45 million, which will support future growth initiatives.
Top-line sales GMV grew by 8% compared to last year, with gross profit after marketing increasing by 12%.
EBITA more than doubled to SEK11.5 million, surpassing last year's total.
Cdon AB (OSTO:CDON) is entering a new era focused on growth and innovation, with initiatives in Nordic expansion, tech resource boost, brand marketing, and retail media.

Negative

The company experienced a poor start to the year, with January and February showing weak performance.
Marketing costs remain high, and the company is still heavily dependent on paid traffic.
There was a decline in order volume, although this was intentional to focus on brand positioning.
The company has not yet realized the full potential of its supply base in markets outside of Sweden.
Operating cash flow was negative after changes in working capital, despite a positive operating cash flow before these changes.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CDONAB.ST - Cdon AB
Q3 2025 Cdon AB Earnings Call
Oct 23, 2025 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon and welcome to the Sidon third quarter 2025 earnings call. My name is Jamar and I work at the bank as an analyst. We are joined today by CEO Frerich Nourberry and CEO Carl Anderson. Welcome, gentlemen.

Thank you, and we have a lot to talk about, so let's dive right in.

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Unidentified_2 [2]
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All right.

Yes, I'm very happy to report another strong quarter.

And first, let's dig in a little bit about Citon Group. We consist of Siton and Finic. We have about 100 million annual visits and we are operating an asset light scalable business

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